Muhlenkamp Co Inc buys $10.8 Million stake in Hanesbrands (HBI)

Hanesbrands (HBI) : Muhlenkamp Co Inc scooped up 220 additional shares in Hanesbrands during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 401,470 shares of Hanesbrands which is valued at $10.8 Million.Hanesbrands makes up approximately 4.66% of Muhlenkamp Co Inc’s portfolio.

Other Hedge Funds, Including , Gerstein Fisher boosted its stake in HBI in the latest quarter, The investment management firm added 106 additional shares and now holds a total of 54,868 shares of Hanesbrands which is valued at $1.5 Million. Hanesbrands makes up approx 0.20% of Gerstein Fisher’s portfolio.Trexquant Investment Lp reduced its stake in HBI by selling 108,860 shares or 89.73% in the most recent quarter. The Hedge Fund company now holds 12,466 shares of HBI which is valued at $335,335. Hanesbrands makes up approx 0.04% of Trexquant Investment Lp’s portfolio.Gamco Investors Et Al reduced its stake in HBI by selling 400 shares or 0.2% in the most recent quarter. The Hedge Fund company now holds 202,200 shares of HBI which is valued at $5.6 Million. Hanesbrands makes up approx 0.04% of Gamco Investors Et Al’s portfolio.Tributary Capital Management reduced its stake in HBI by selling 3,800 shares or 8.46% in the most recent quarter. The Hedge Fund company now holds 41,100 shares of HBI which is valued at $1.1 Million. Hanesbrands makes up approx 0.18% of Tributary Capital Management’s portfolio.Mizuho Trust Banking Ltd. boosted its stake in HBI in the latest quarter, The investment management firm added 18,786 additional shares and now holds a total of 608,691 shares of Hanesbrands which is valued at $17.7 Million. Hanesbrands makes up approx 0.06% of Mizuho Trust Banking Ltd.’s portfolio.

Hanesbrands opened for trading at $27.09 and hit $27.605 on the upside on Friday, eventually ending the session at $27.52, with a gain of 1.96% or 0.53 points. The heightened volatility saw the trading volume jump to 28,74,500 shares. Company has a market cap of $10,389 M.

On the company’s financial health, Hanesbrands reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.22. The company had revenue of $1219.10 million for the quarter, compared to analysts expectations of $1211.98 million. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 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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