Short Interest in Hain Celestial Group Inc (NASDAQ:HAIN) Drops By 5.3%

Hain Celestial Group Inc (NASDAQ:HAIN) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 11,397,000 shares, a drop of 5.3% from the May 15th total of 12,032,300 shares. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is presently 8.6 days. Currently, 11.2% of the shares of the stock are sold short.

NASDAQ:HAIN traded down $0.25 during midday trading on Friday, hitting $20.77. The stock had a trading volume of 532,041 shares, compared to its average volume of 815,070. The company has a quick ratio of 1.22, a current ratio of 2.16 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $2.16 billion, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 12.71 and a beta of 1.37. The company’s 50-day simple moving average is $21.12. Hain Celestial Group has a one year low of $14.45 and a one year high of $30.42.

Hain Celestial Group (NASDAQ:HAIN) last announced its earnings results on Thursday, May 9th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The business had revenue of $599.80 million for the quarter, compared to analysts’ expectations of $597.75 million. Hain Celestial Group had a positive return on equity of 4.51% and a negative net margin of 10.14%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 EPS. As a group, research analysts predict that Hain Celestial Group will post 0.66 EPS for the current year.

Several equities analysts recently issued reports on HAIN shares. SunTrust Banks set a $37.00 price target on Yelp and gave the stock a “hold” rating in a research report on Friday, May 10th. Buckingham Research set a $23.00 price objective on Hain Celestial Group and gave the stock a “hold” rating in a research report on Friday, May 10th. Zacks Investment Research lowered W. R. Grace & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Stratasys in a research report on Monday, April 1st. Finally, Maxim Group set a $7.00 price target on Net 1 UEPS Technologies and gave the company a “buy” rating in a research report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $23.75.

In other Hain Celestial Group news, insider Engaged Capital Co-Invest Vi-D purchased 712,165 shares of the stock in a transaction on Monday, May 20th. The shares were purchased at an average price of $23.27 per share, with a total value of $16,572,079.55. Following the acquisition, the insider now directly owns 21,577 shares in the company, valued at approximately $502,096.79. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Glenn W. Welling purchased 908,118 shares of the stock in a transaction on Tuesday, May 14th. The stock was acquired at an average cost of $23.49 per share, for a total transaction of $21,331,691.82. Following the acquisition, the director now owns 21,577 shares in the company, valued at $506,843.73. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 6,871,608 shares of company stock valued at $161,995,807. 13.50% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Rhumbline Advisers increased its stake in shares of Hain Celestial Group by 39.0% in the 4th quarter. Rhumbline Advisers now owns 225,502 shares of the company’s stock valued at $3,576,000 after purchasing an additional 63,213 shares in the last quarter. Comerica Bank increased its stake in shares of Hain Celestial Group by 1.4% in the 4th quarter. Comerica Bank now owns 58,277 shares of the company’s stock valued at $1,052,000 after purchasing an additional 785 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Hain Celestial Group by 1.8% in the 4th quarter. California Public Employees Retirement System now owns 183,201 shares of the company’s stock valued at $2,906,000 after purchasing an additional 3,311 shares in the last quarter. BlackRock Inc. increased its stake in shares of Hain Celestial Group by 1.2% in the 4th quarter. BlackRock Inc. now owns 8,063,817 shares of the company’s stock valued at $127,891,000 after purchasing an additional 92,065 shares in the last quarter. Finally, Texas Permanent School Fund increased its stake in shares of Hain Celestial Group by 4.1% in the 4th quarter. Texas Permanent School Fund now owns 58,564 shares of the company’s stock valued at $929,000 after purchasing an additional 2,314 shares in the last quarter. 96.43% of the stock is owned by hedge funds and other institutional investors.

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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