Granite Point Capital Management L.P. cut its position in Hostess Brands, Inc. (NASDAQ:TWNK) by 44.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,100 shares of the company’s stock after selling 44,900 shares during the quarter. Granite Point Capital Management L.P.’s holdings in Hostess Brands were worth $753,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC bought a new position in Hostess Brands during the second quarter worth $118,956,000. Franklin Resources Inc. bought a new position in Hostess Brands during the second quarter worth $87,922,000. Vanguard Group Inc. boosted its position in Hostess Brands by 56.9% during the second quarter. Vanguard Group Inc. now owns 6,695,119 shares of the company’s stock worth $107,791,000 after purchasing an additional 2,428,469 shares during the period. Victory Capital Management Inc. boosted its position in Hostess Brands by 61.8% during the second quarter. Victory Capital Management Inc. now owns 6,264,825 shares of the company’s stock worth $100,863,000 after purchasing an additional 2,393,253 shares during the period. Finally, Westwood Holdings Group Inc. bought a new position in Hostess Brands during the second quarter worth $27,074,000. 78.60% of the stock is owned by institutional investors and hedge funds.
In other news, CEO William Douglas Toler bought 50,000 shares of the company’s stock in a transaction dated Friday, November 24th. The stock was bought at an average price of $12.88 per share, with a total value of $644,000.00. Following the completion of the acquisition, the chief executive officer now owns 250,000 shares of the company’s stock, valued at $3,220,000. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Neil P. Defeo bought 10,000 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were purchased at an average cost of $12.96 per share, with a total value of $129,600.00. Following the acquisition, the director now directly owns 16,482 shares of the company’s stock, valued at approximately $213,606.72. The disclosure for this purchase can be found here. 25.50% of the stock is currently owned by company insiders.
Shares of Hostess Brands, Inc. (NASDAQ:TWNK) opened at $14.37 on Thursday. Hostess Brands, Inc. has a twelve month low of $11.00 and a twelve month high of $17.18. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 2.18.
Hostess Brands (NASDAQ:TWNK) last posted its earnings results on Wednesday, November 8th. The company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. Hostess Brands had a return on equity of 1.16% and a net margin of 2.58%. The company had revenue of $192.30 million during the quarter, compared to the consensus estimate of $198.42 million. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. sell-side analysts predict that Hostess Brands, Inc. will post 0.6 earnings per share for the current fiscal year.
A number of research firms have commented on TWNK. J P Morgan Chase & Co began coverage on shares of Hostess Brands in a research report on Wednesday, October 11th. They set a “neutral” rating and a $15.00 price objective for the company. Zacks Investment Research raised shares of Hostess Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Morgan Stanley began coverage on shares of Hostess Brands in a research report on Monday, September 25th. They set an “equal weight” rating and a $14.00 price objective for the company. UBS cut shares of Hostess Brands from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $16.00 to $11.00 in a research report on Friday, October 13th. Finally, Royal Bank Of Canada began coverage on shares of Hostess Brands in a research report on Monday, September 18th. They set an “outperform” rating and a $16.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Hostess Brands has an average rating of “Buy” and a consensus target price of $16.25.
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About Hostess Brands
Hostess Brands, Inc, a packaged food company, focuses on developing, manufacturing, marketing, selling, and distributing fresh sweet baked goods in the United States. The company operates in two segments, Sweet Baked Goods and Other. Its principal product lines include Twinkies, Zingers, Donettes, coffee cakes, cupcakes, cinnamon rolls, Ding Dongs, honey buns, fruit pies, Sno Balls, mini muffins, Chocodiles, Ho Hos, brownies, Suzy Qs, bread and buns, danishes, jumbo muffins, iced cookies, eclairs, and madeleines.
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