GAMMA Investing LLC Expands Its Investment in Hasbro, Inc. (NASDAQ:HAS)

GAMMA Investing LLC has significantly increased its stake in Hasbro, Inc. (NASDAQ:HAS) during the third quarter of the year. According to their most recent 13F filing with the Securities and Exchange Commission, GAMMA Investing raised its holdings by an impressive 59.7%. At the end of the quarter, GAMMA owned 3,139 shares of Hasbro after acquiring an additional 1,173 shares, marking a notable expansion of their investment. The total value of GAMMA's holdings in Hasbro amounted to approximately $227,000.

Other institutional investors also took steps to alter their investments in Hasbro recently. For instance, Plato Investment Management Ltd initiated a new position in Hasbro during the second quarter, with a stake valued at around $27,000. Similarly, Asset Dedication LLC made a significant move by increasing its holdings by 290.1%, bringing their total to 472 shares worth approximately $28,000 after adding 351 shares during the same period. International Assets Investment Management LLC entered into a new stake, valued at about $46,000, while Summit Securities Group LLC made a newly established investment worth approximately $47,000. Additionally, Neo Ivy Capital Management also bought a new stake in Hasbro during the fourth quarter, valued at around $45,000. It is noteworthy that the majority of Hasbro's stock, approximately 91.83%, is held by institutional investors and hedge funds.

Recent Analyst Ratings Changes

Shares of Hasbro have been the subject of various analyst recommendations in recent months. Jefferies Financial Group raised their price target on Hasbro from $75.00 to $83.00 on October 1st, assigning the stock a “buy” rating. On the other hand, DA Davidson maintained a “neutral” rating, setting a target price of $59.00 in a research note published on July 26th. Morgan Stanley also increased their price target from $78.00 to $79.00 while giving Hasbro an “overweight” rating on the same day. Moreover, Stifel Nicolaus revised their price objective up from $78.00 to $82.00, continuing the trend of positive assessments for the stock. Bank of America further raised its target price from $85.00 to $90.00, maintaining a “buy” rating on September 16th. Overall, four analysts have issued ‘hold’ ratings, while eight have assigned ‘buy’ ratings, suggesting a consensus rating of “Moderate Buy” with an average price target of $72.73, as per MarketBeat.com data.

Hasbro Stock Overview

As of the latest trading session, Hasbro stock opened at $72.13. Over the past year, the company has reached a low of $42.66 and a high of $73.46. Hasbro boasts a market capitalization of $10.06 billion, with a PE ratio of -9.67 and a price-to-earnings-growth ratio of 0.54, along with a beta of 0.61. The company’s moving averages indicate a 50-day average of $68.40 and a 200-day average of $62.49. Regarding its financial health, Hasbro has a current ratio of 1.46, a quick ratio of 1.27, and a debt-to-equity ratio of 2.95.

In its latest quarterly earnings announcement on July 25th, Hasbro reported earnings per share (EPS) at $1.22, surpassing analysts’ expectations of $0.78 by $0.44. The company's revenue for the quarter was reported at $995.30 million, exceeding projected figures of $941.38 million. Although Hasbro's return on equity stands robust at 38.83%, the company reported a negative net margin of 22.78%. Year-over-year, the firm experienced a revenue decline of 17.7%, compared to the same quarter last year when it posted $0.49 EPS. Analysts anticipate that Hasbro, Inc. will report an EPS of 3.94 for the current year.

Dividend Declaration

Additionally, Hasbro has recently announced a quarterly dividend, which was distributed on September 4th. Shareholders on record as of August 21st received a dividend of $0.70 per share. The ex-dividend date was also August 21st, leading to an annualized dividend of $2.80, yielding 3.88%. Notably, Hasbro’s payout ratio is -37.53%.

Company Overview

Hasbro, Inc. operates globally as a toy and game company. Their services extend across the United States, Europe, Canada, Mexico, Latin America, Australia, China, and Hong Kong. The company comprises several segments, including Consumer Products, Wizards of the Coast and Digital Gaming, Entertainment, and Corporate and Other segments.

Investment, Hasbro, Stock