Tricadia Capital Management Lowers stake in Blackhawk Network Holdings Inc (HAWK)

Blackhawk Network Holdings Inc (HAWK) : Tricadia Capital Management reduced its stake in Blackhawk Network Holdings Inc by 4.28% during the most recent quarter end. The investment management company now holds a total of 323,990 shares of Blackhawk Network Holdings Inc which is valued at $10,843,945 after selling 14,500 shares in Blackhawk Network Holdings Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Blackhawk Network Holdings Inc makes up approximately 3.45% of Tricadia Capital Management’s portfolio.

Other Hedge Funds, Including , Ancora Advisors reduced its stake in HAWK by selling 110 shares or 0.29% in the most recent quarter. The Hedge Fund company now holds 37,304 shares of HAWK which is valued at $1,248,565. Blackhawk Network Holdings Inc makes up approx 0.14% of Ancora Advisors’s portfolio.Rice Hall James Associates reduced its stake in HAWK by selling 139,474 shares or 22.33% in the most recent quarter. The Hedge Fund company now holds 485,220 shares of HAWK which is valued at $17,463,068. Blackhawk Network Holdings Inc makes up approx 0.96% of Rice Hall James Associates’s portfolio.

Blackhawk Network Holdings Inc opened for trading at $32.8 and hit $33.45 on the upside on Tuesday, eventually ending the session at $32.62, with a gain of 0.06% or 0.02 points. The heightened volatility saw the trading volume jump to 5,43,632 shares. Company has a market cap of $1,837 M.

On the company’s financial health, Blackhawk Network Holdings Inc reported $0.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $0.29. The company had revenue of $391.20 million for the quarter, compared to analysts expectations of $390.24 million. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.

Many Wall Street Analysts have commented on Blackhawk Network Holdings Inc. Blackhawk Network Holdings Inc was Upgraded by BofA/Merrill to ” Buy” on Jul 22, 2016.

Blackhawk Network Holdings Inc. (Blackhawk) is a prepaid payment network. The Company offers a range of prepaid gift telecom and debit cards in physical and electronic forms and related prepaid products and payment services in the United States and 21 other countries. It operates in two segments: US Retail and Incentives & Rewards and International Retail. US Retail and Incentives & Rewards segment consists of the various operating segments of its United States retail products online channel secondary card market and incentive and reward solutions and derives revenues from sales of prepaid products to consumers at its United States retail distribution partners online and through its card exchange and prepaid products to consumers through business clients. Its International Retail segment consists of the various operating segments of its geographic regions and derives revenues from sales of prepaid products to consumers at its international retail distribution partners.

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