BNP Paribas Arbitrage SA Reduces Position in HSN, Inc. (HSNI)

BNP Paribas Arbitrage SA cut its stake in shares of HSN, Inc. (NASDAQ:HSNI) by 21.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,392 shares of the specialty retailer’s stock after selling 3,077 shares during the period. BNP Paribas Arbitrage SA’s holdings in HSN were worth $423,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Capstone Investment Advisors LLC purchased a new stake in HSN during the fourth quarter valued at $279,000. New York State Teachers Retirement System increased its position in shares of HSN by 5.7% in the fourth quarter. New York State Teachers Retirement System now owns 57,062 shares of the specialty retailer’s stock worth $1,957,000 after buying an additional 3,100 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of HSN by 4.1% in the fourth quarter. Renaissance Technologies LLC now owns 175,200 shares of the specialty retailer’s stock worth $6,009,000 after buying an additional 6,900 shares in the last quarter. Pacad Investment Ltd. increased its position in shares of HSN by 61.8% in the fourth quarter. Pacad Investment Ltd. now owns 6,309 shares of the specialty retailer’s stock worth $216,000 after buying an additional 2,409 shares in the last quarter. Finally, Credit Agricole S A purchased a new position in shares of HSN during the fourth quarter worth approximately $286,000. Hedge funds and other institutional investors own 60.09% of the company’s stock.

Institutional Ownership by Quarter for HSN (NASDAQ:HSNI)

Shares of HSN, Inc. (NASDAQ:HSNI) opened at 32.15 on Friday. HSN, Inc. has a 12 month low of $30.75 and a 12 month high of $54.03. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 15.24 and a beta of 1.29. The company has a 50-day moving average price of $34.31 and a 200-day moving average price of $35.57.

HSN (NASDAQ:HSNI) last posted its earnings results on Wednesday, May 3rd. The specialty retailer reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. HSN had a return on equity of 72.70% and a net margin of 3.15%. The firm had revenue of $785.40 million for the quarter, compared to analysts’ expectations of $785.22 million. During the same period last year, the firm earned $0.54 EPS. The firm’s revenue was down 3.8% compared to the same quarter last year. On average, analysts expect that HSN, Inc. will post $2.42 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date is Monday, June 5th. HSN’s payout ratio is currently 66.67%.

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A number of equities analysts have commented on HSNI shares. Craig Hallum set a $45.00 target price on shares of HSN and gave the stock a “hold” rating in a report on Thursday, February 23rd. Zacks Investment Research upgraded shares of HSN from a “strong sell” rating to a “hold” rating in a report on Monday, February 27th. Aegis began coverage on shares of HSN in a report on Tuesday, April 11th. They set a “hold” rating and a $41.00 price objective on the stock. Maxim Group set a $46.00 price objective on shares of HSN and gave the company a “buy” rating in a report on Thursday, May 4th. Finally, ValuEngine downgraded shares of HSN from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $45.13.

About HSN

HSN, Inc is an interactive multi-channel retailer. The Company markets and sells a range of third party and merchandise directly to consumers through various platforms, including television home shopping programing broadcast on the HSN television networks and other direct-response television marketing; catalogs, consisting of the Cornerstone portfolio of print catalogs, which includes, Ballard Designs, Frontgate, Garnet Hill, Grandin Road and Improvements; Websites, which consist primarily of HSN.com, joymangano.com and the five branded Websites operated by Cornerstone; mobile devices; retail and outlet stores, and wholesale distribution of certain products to other retailers.

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