Simplex Trading buys $576,507 stake in Hibbett Sports (HIBB)

Hibbett Sports (HIBB) : Simplex Trading scooped up 11,999 additional shares in Hibbett Sports during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 13,855 shares of Hibbett Sports which is valued at $576,507.Hibbett Sports makes up approximately 0.08% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , First Mercantile Trust Co reduced its stake in HIBB by selling 978 shares or 10.72% in the most recent quarter. The Hedge Fund company now holds 8,147 shares of HIBB which is valued at $338,997. Hibbett Sports makes up approx 0.05% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in HIBB by selling 3,524 shares or 45.58% in the most recent quarter. The Hedge Fund company now holds 4,207 shares of HIBB which is valued at $169,921.

Hibbett Sports opened for trading at $41.4 and hit $41.79 on the upside on Friday, eventually ending the session at $41.61, with a gain of 1.09% or 0.45 points. The heightened volatility saw the trading volume jump to 2,30,987 shares. Company has a market cap of $915 M.

On the company’s financial health, Hibbett Sports reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 19, 2016. Analyst had a consensus of $0.28. The company had revenue of $206.90 million for the quarter, compared to analysts expectations of $209.39 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Many Wall Street Analysts have commented on Hibbett Sports. Susquehanna Initiated Hibbett Sports on Aug 12, 2016 to “Positive”, Price Target of the shares are set at $45.

Hibbett Sports Inc. operates sporting goods stores in small to mid-sized markets predominantly in the South Southwest Mid-Atlantic and Midwest regions of the United States. The Company operates around 988 retail stores in 31 states consisting of approximately 969 Hibbett Sports stores and around 19 Sports Additions athletic shoe stores. The Company’s primary retail format is Hibbett Sports an approximately 5000-square-foot store located primarily in strip centers. The Company sells merchandise of various brands such as Nike Under Armour Reebok adidas Easton and The North Face. The Company’s Hibbett Sports stores offer a range of brand name merchandise and its Sports Additions stores offer a range of fashion-based merchandise. Hibbett Team Sales Inc. a wholly owned subsidiary of the Company is a supplier of customized athletic apparel equipment and footwear primarily to school athletic programs in Alabama and parts of Georgia Florida and Mississippi.

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