Hain Celestial Group Inc (NASDAQ:HAIN) Short Interest Up 20.6% in March

Hain Celestial Group Inc (NASDAQ:HAIN) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 12,333,966 shares, a growth of 20.6% from the February 28th total of 10,229,569 shares. Based on an average daily volume of 2,679,384 shares, the days-to-cover ratio is presently 4.6 days. Currently, 12.2% of the shares of the company are short sold.

Several research analysts have weighed in on the company. ValuEngine upgraded Hain Celestial Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 28th. BidaskClub upgraded Hain Celestial Group from a “strong sell” rating to a “sell” rating in a research note on Friday, January 4th. Sanford C. Bernstein downgraded Hain Celestial Group from an “outperform” rating to a “market perform” rating and set a $22.00 target price for the company. in a research report on Friday, March 1st. Zacks Investment Research upgraded Hain Celestial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Finally, Piper Jaffray Companies set a $17.00 target price on Hain Celestial Group and gave the company a “hold” rating in a research report on Friday, February 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $25.68.

In other Hain Celestial Group news, insider Engaged Capital Co-Invest Vi-D purchased 951,932 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was acquired at an average cost of $19.97 per share, for a total transaction of $19,010,082.04. Following the purchase, the insider now directly owns 21,577 shares of the company’s stock, valued at approximately $430,892.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Glenn W. Welling purchased 1,003,918 shares of the company’s stock in a transaction on Friday, March 1st. The stock was acquired at an average price of $19.30 per share, with a total value of $19,375,617.40. Following the completion of the purchase, the director now directly owns 21,577 shares in the company, valued at $416,436.10. The disclosure for this purchase can be found here. Insiders have bought a total of 4,978,829 shares of company stock valued at $101,772,309 in the last ninety days. Insiders own 13.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake in shares of Hain Celestial Group by 1,005.0% during the fourth quarter. Parallel Advisors LLC now owns 2,000 shares of the company’s stock valued at $31,000 after buying an additional 1,819 shares during the period. Northern Trust Corp boosted its position in Hain Celestial Group by 2.7% during the fourth quarter. Northern Trust Corp now owns 732,570 shares of the company’s stock valued at $11,620,000 after purchasing an additional 19,572 shares in the last quarter. Advisory Services Network LLC bought a new stake in Hain Celestial Group during the fourth quarter valued at about $44,000. Geode Capital Management LLC boosted its position in Hain Celestial Group by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 952,725 shares of the company’s stock valued at $15,109,000 after purchasing an additional 29,919 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new stake in Hain Celestial Group during the third quarter valued at about $4,010,000. Institutional investors and hedge funds own 96.38% of the company’s stock.

HAIN traded down $0.12 during trading on Friday, reaching $22.38. The company had a trading volume of 996,561 shares, compared to its average volume of 1,273,357. The company has a market cap of $2.33 billion, a PE ratio of 19.29, a P/E/G ratio of 5.69 and a beta of 1.47. Hain Celestial Group has a 52 week low of $14.45 and a 52 week high of $31.68. The company has a quick ratio of 1.25, a current ratio of 2.17 and a debt-to-equity ratio of 0.44.

Hain Celestial Group (NASDAQ:HAIN) last issued its quarterly earnings results on Thursday, February 7th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.12). Hain Celestial Group had a positive return on equity of 5.28% and a negative net margin of 6.72%. The company had revenue of $584.16 million during the quarter, compared to the consensus estimate of $611.18 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, research analysts anticipate that Hain Celestial Group will post 0.66 earnings per share for the current fiscal year.

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About Hain Celestial Group

The Hain Celestial Group, Inc manufactures, markets, distributes, and sells organic and natural products. The company operates in seven segments: the United States, United Kingdom, Tilda, Ella's Kitchen UK, Canada, Europe, and Cultivate. It offers infant formula; infant, toddler, and kids foods; diapers and wipes; rice and grain-based products; plant-based beverages and frozen desserts, such as soy, rice, oat, almond, and coconut; flour and baking mixes; breads, hot and cold cereals, pasta, condiments, cooking and culinary oils, granolas, and cereal bars; canned, chilled fresh, aseptic, and instant soups; yogurts; chilies; chocolates; and nut butters.

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