Blue Clay Capital Management Lowers stake in Hibbett Sports (HIBB)

Hibbett Sports (HIBB) : Blue Clay Capital Management reduced its stake in Hibbett Sports by 24.87% during the most recent quarter end. The investment management company now holds a total of 28,681 shares of Hibbett Sports which is valued at $1,102,498 after selling 9,495 shares in Hibbett Sports , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Hibbett Sports makes up approximately 1.44% of Blue Clay Capital Management’s portfolio.

Other Hedge Funds, Including , Landscape Capital Management L.l.c. sold out all of its stake in HIBB during the most recent quarter. The investment firm sold 111,651 shares of HIBB which is valued $4,291,864.Aperio Group reduced its stake in HIBB by selling 545 shares or 5.45% in the most recent quarter. The Hedge Fund company now holds 9,458 shares of HIBB which is valued at $363,566.Tiaa Cref Investment Management reduced its stake in HIBB by selling 6,279 shares or 8.41% in the most recent quarter. The Hedge Fund company now holds 68,388 shares of HIBB which is valued at $2,628,835.Victory Capital Management Inc boosted its stake in HIBB in the latest quarter, The investment management firm added 870 additional shares and now holds a total of 1,998 shares of Hibbett Sports which is valued at $73,147.

Hibbett Sports opened for trading at $38.78 and hit $39.52 on the upside on Wednesday, eventually ending the session at $39.43, with a gain of 1.36% or 0.53 points. The heightened volatility saw the trading volume jump to 307,730 shares. Company has a market cap of $882 M.

On the company’s financial health, Hibbett Sports reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 19, 2016. Analyst had a consensus of $0.28. The company had revenue of $206.90 million for the quarter, compared to analysts expectations of $209.39 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Many Wall Street Analysts have commented on Hibbett Sports. Susquehanna Initiated Hibbett Sports on Aug 12, 2016 to “Positive”, Price Target of the shares are set at $45.Hibbett Sports was Resumed by Stifel to “Hold” on Jun 24, 2016.

Hibbett Sports Inc. operates sporting goods stores in small to mid-sized markets predominantly in the South Southwest Mid-Atlantic and Midwest regions of the United States. The Company operates around 988 retail stores in 31 states consisting of approximately 969 Hibbett Sports stores and around 19 Sports Additions athletic shoe stores. The Company’s primary retail format is Hibbett Sports an approximately 5000-square-foot store located primarily in strip centers. The Company sells merchandise of various brands such as Nike Under Armour Reebok adidas Easton and The North Face. The Company’s Hibbett Sports stores offer a range of brand name merchandise and its Sports Additions stores offer a range of fashion-based merchandise. Hibbett Team Sales Inc. a wholly owned subsidiary of the Company is a supplier of customized athletic apparel equipment and footwear primarily to school athletic programs in Alabama and parts of Georgia Florida and Mississippi.

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