Muhlenkamp Co Inc Lowers stake in Hanesbrands (HBI)

Hanesbrands (HBI) : Muhlenkamp Co Inc reduced its stake in Hanesbrands by 0.58% during the most recent quarter end. The investment management company now holds a total of 399,155 shares of Hanesbrands which is valued at $10,194,419 after selling 2,315 shares in Hanesbrands , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Hanesbrands makes up approximately 3.82% of Muhlenkamp Co Inc’s portfolio.

Other Hedge Funds, Including , At Bancorp boosted its stake in HBI in the latest quarter, The investment management firm added 5,099 additional shares and now holds a total of 154,448 shares of Hanesbrands which is valued at $4,210,252. Hanesbrands makes up approx 0.59% of At Bancorp’s portfolio. Alambic Investment Management sold out all of its stake in HBI during the most recent quarter. The investment firm sold 10,800 shares of HBI which is valued $294,408.Quantbot Technologies Lp boosted its stake in HBI in the latest quarter, The investment management firm added 65,527 additional shares and now holds a total of 158,433 shares of Hanesbrands which is valued at $3,962,409. Hanesbrands makes up approx 0.41% of Quantbot Technologies Lp’s portfolio. Bbva Compass Bancshares Inc added HBI to its portfolio by purchasing 27,431 company shares during the most recent quarter which is valued at $731,310. Hanesbrands makes up approx 0.05% of Bbva Compass Bancshares Inc’s portfolio.Independent Portfolio Consultants reduced its stake in HBI by selling 12,870 shares or 19.86% in the most recent quarter. The Hedge Fund company now holds 51,930 shares of HBI which is valued at $1,377,184. Hanesbrands makes up approx 0.42% of Independent Portfolio Consultants’s portfolio.

Hanesbrands opened for trading at $27.16 and hit $27.38 on the upside on Wednesday, eventually ending the session at $27.32, with a gain of 0.59% or 0.16 points. The heightened volatility saw the trading volume jump to 39,17,037 shares. Company has a market cap of $10,321 M.

On the company’s financial health, Hanesbrands reported $0.51 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.52. The company had revenue of $1470.00 million for the quarter, compared to analysts expectations of $1530.65 million. The company’s revenue was down -3.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.50 EPS.

Hanesbrands Inc. is a manufacturer and marketer of apparel. The Company operates through four segments: Innerwear Activewear Direct to Consumer and International. The Company’s innerwear and activewear apparel brands include Hanes Champion Bali Playtex Maidenform JMS/Just My Size L’eggs Flexees barely there Wonderbra Gear for Sports and Lilyette. Its international brands also include DIM Nur Die/Nur Der Zorba Rinbros and Shock Absorber among others. The Company’s Innerwear segment focuses on apparel products such as intimate apparel men’s underwear children’s underwear and socks. In the activewear market it sells products such as T-shirts and fleece to both retailers and wholesalers. Its Direct to Consumer operations include its domestic Company-operated outlet stores catalogs and Website operations that sell its branded products to consumers in the United States. The Company’s international markets are Europe Canada Japan Mexico Brazil and Australia.

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