As Blackhawk Network Hldgs INC (HAWK) Market Valuation Rose, Three Bays Capital LP Has Lifted Position

February 22, 2018 - By Jan Rainey

Three Bays Capital Lp increased its stake in Blackhawk Network Hldgs Inc (HAWK) by 207.68% based on its latest 2017Q3 regulatory filing with the SEC. Three Bays Capital Lp bought 1.02M shares as the company’s stock rose 16.53% with the market. The institutional investor held 1.51M shares of the finance company at the end of 2017Q3, valued at $66.17 million, up from 491,000 at the end of the previous reported quarter. Three Bays Capital Lp who had been investing in Blackhawk Network Hldgs Inc for a number of months, seems to be bullish on the $2.54 billion market cap company. The stock decreased 0.06% or $0.025 during the last trading session, reaching $44.675. About 847,087 shares traded. Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) has risen 34.41% since February 22, 2017 and is uptrending. It has outperformed by 17.71% the S&P500.

Three Bays Capital Lp, which manages about $1.36 billion and $1.34B US Long portfolio, decreased its stake in Intercontinental Exchange Inc (NYSE:ICE) by 89,100 shares to 969,730 shares, valued at $66.62 million in 2017Q3, according to the filing. It also reduced its holding in Churchill Downs Inc (NASDAQ:CHDN) by 287,543 shares in the quarter, leaving it with 1.00M shares, and cut its stake in Quintiles Ims Holdings Inc (NYSE:Q).

More news for Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) were recently published by: Seekingalpha.com, which released: “Blackhawk: Seller’s Remorse Or A Breach Of Fiduciary Duty?” on January 24, 2018. Prnewswire.com‘s article titled: “Blackhawk Network Partners with Casey’s General Stores to Enable ‘Cash …” and published on January 29, 2018 is yet another important article.

Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) Ratings Coverage

Among 14 analysts covering Blackhawk Network Holdings (NASDAQ:HAWK), 3 have Buy rating, 0 Sell and 11 Hold. Therefore 21% are positive. Blackhawk Network Holdings had 39 analyst reports since July 24, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Thursday, October 12 by Mizuho. The stock of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) earned “Outperform” rating by Credit Suisse on Friday, December 11. The firm has “Hold” rating given on Tuesday, January 16 by Craig Hallum. SunTrust downgraded Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) on Wednesday, January 31 to “Hold” rating. The stock of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) has “Buy” rating given on Friday, May 19 by Citigroup. On Tuesday, January 23 the stock rating was downgraded by First Analysis to “Hold”. On Wednesday, September 21 the stock rating was upgraded by CLSA to “Outperform”. The firm earned “Market Perform” rating on Tuesday, January 23 by BMO Capital Markets. Jefferies downgraded Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) rating on Monday, January 29. Jefferies has “Hold” rating and $45.0 target. The rating was maintained by Bank of America with “Neutral” on Thursday, July 20.

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