Traders Buy Large Volume of Hibbett Call Options (NASDAQ:HIBB)

Hibbett, Inc. (NASDAQ:HIBB) saw some unusual options trading on Tuesday. Stock traders acquired 2,754 call options on the stock. This represents an increase of 640% compared to the typical daily volume of 372 call options.

Hibbett Trading Up 19.1 %

Shares of NASDAQ HIBB traded up $13.86 during mid-day trading on Tuesday, hitting $86.35. The company had a trading volume of 2,281,789 shares, compared to its average volume of 267,888. Hibbett has a one year low of $34.86 and a one year high of $86.70. The company has a market capitalization of $1.02 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 1.16 and a beta of 1.75. The firm has a 50-day simple moving average of $74.11 and a two-hundred day simple moving average of $65.36.

Hibbett (NASDAQ:HIBB) last posted its quarterly earnings results on Friday, March 15th. The company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.01. Hibbett had a return on equity of 25.72% and a net margin of 5.97%. The business had revenue of $466.60 million during the quarter, compared to analysts’ expectations of $477.42 million. During the same quarter last year, the company posted $2.91 earnings per share. Hibbett’s quarterly revenue was up 1.8% on a year-over-year basis. Sell-side analysts expect that Hibbett will post 8.21 earnings per share for the current fiscal year.

Hibbett Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $1.00 annualized dividend and a yield of 1.16%. Hibbett’s dividend payout ratio (DPR) is presently 12.21%.

Analyst Upgrades and Downgrades

HIBB has been the topic of several analyst reports. Telsey Advisory Group upped their price objective on Hibbett from $74.00 to $87.50 and gave the company a “market perform” rating in a research note on Tuesday. Williams Trading restated a “hold” rating and set a $73.00 price target on shares of Hibbett in a research report on Monday, March 18th. B. Riley increased their price target on Hibbett from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Finally, Monness Crespi & Hardt increased their price target on Hibbett from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $69.79.

Institutional Investors Weigh In On Hibbett

Several hedge funds have recently bought and sold shares of HIBB. GAMMA Investing LLC acquired a new stake in shares of Hibbett in the fourth quarter valued at approximately $28,000. AJOVista LLC acquired a new stake in shares of Hibbett in the fourth quarter valued at approximately $75,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Hibbett by 80.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,699 shares of the company’s stock valued at $176,000 after buying an additional 1,654 shares in the last quarter. Kendall Capital Management acquired a new stake in shares of Hibbett in the third quarter valued at approximately $200,000. Finally, Virtu Financial LLC acquired a new stake in shares of Hibbett in the fourth quarter valued at approximately $201,000. 94.08% of the stock is currently owned by institutional investors and hedge funds.

Hibbett Company Profile

Hibbett, Inc together with its subsidiaries, engages in the retail of athletic-inspired fashion products in the United States. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, team sports equipment, and related accessories. The company operates Hibbett stores, City Gear stores, and Sports Additions athletic shoe stores.