Wexford Capital LP Sells 108,547 Shares of The Honest Company, Inc. (NASDAQ:HNST)

Wexford Capital LP reduced its stake in The Honest Company, Inc. (NASDAQ:HNST) by 71.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 43,991 shares of the company’s stock after selling 108,547 shares during the quarter. Wexford Capital LP’s holdings in Honest were worth $305,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new position in shares of Honest during the fourth quarter valued at approximately $26,000. New York State Teachers Retirement System bought a new position in shares of Honest during the fourth quarter valued at approximately $52,000. Utah Retirement Systems bought a new position in shares of Honest during the fourth quarter valued at approximately $86,000. Fox Run Management L.L.C. bought a new position in shares of Honest during the fourth quarter valued at approximately $89,000. Finally, Walleye Trading LLC bought a new position in shares of Honest during the fourth quarter valued at approximately $109,000. 45.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reiterated a “market perform” rating and set a $7.00 price objective on shares of Honest in a research note on Thursday, May 8th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.70.

Insider Activity at Honest

In other Honest news, SVP Jonathan Mayle sold 37,481 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $4.87, for a total value of $182,532.47. Following the completion of the transaction, the senior vice president now owns 307,740 shares of the company’s stock, valued at approximately $1,498,693.80. This trade represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephen Winchell sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $4.98, for a total transaction of $99,600.00. Following the completion of the transaction, the insider now directly owns 431,844 shares of the company’s stock, valued at approximately $2,150,583.12. This represents a 4.43% decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by corporate insiders.

Honest Stock Down 0.9%

NASDAQ:HNST opened at $5.46 on Tuesday. The Honest Company, Inc. has a 52 week low of $2.40 and a 52 week high of $8.97. The firm has a 50 day moving average of $4.77 and a 200 day moving average of $5.82. The stock has a market capitalization of $601.89 million, a price-to-earnings ratio of -136.50 and a beta of 2.43.

Honest (NASDAQ:HNST) last posted its earnings results on Wednesday, May 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. The company had revenue of $97.25 million during the quarter, compared to analysts’ expectations of $92.46 million. As a group, analysts expect that The Honest Company, Inc. will post -0.07 EPS for the current year.

Honest Company Profile

The Honest Company, Inc manufactures and sells diapers and wipes, skin and personal care, and household and wellness products. The company also offers baby clothing and nursery bedding products. It sells its products through digital and retail sales channels, such as its website and third-party ecommerce sites, as well as brick and mortar retailers.