Mainstream Capital Management LLC Buys Shares of 236,061 The Honest Company, Inc. (NASDAQ:HNST)

Mainstream Capital Management LLC bought a new stake in The Honest Company, Inc. (NASDAQ:HNST) during the third quarter, Holdings Channel.com reports. The institutional investor bought 236,061 shares of the company’s stock, valued at approximately $843,000.

A number of other large investors also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. lifted its position in shares of Honest by 122.5% during the third quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company’s stock worth $784,000 after purchasing an additional 120,937 shares in the last quarter. US Bancorp DE acquired a new stake in shares of Honest during the third quarter worth about $78,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Honest during the third quarter worth about $40,000. Castleview Partners LLC acquired a new stake in shares of Honest during the third quarter worth about $71,000. Finally, Creative Planning acquired a new stake in shares of Honest during the third quarter worth about $39,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

Honest Stock Up 1.9 %

Shares of NASDAQ:HNST opened at $4.22 on Friday. The stock has a market cap of $422.35 million, a price-to-earnings ratio of -32.62 and a beta of 1.85. The Honest Company, Inc. has a fifty-two week low of $1.20 and a fifty-two week high of $4.89. The firm’s 50 day moving average price is $3.82 and its 200 day moving average price is $3.41.

Honest (NASDAQ:HNST) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $93.05 million for the quarter, compared to analyst estimates of $87.63 million. Honest had a negative net margin of 3.50% and a negative return on equity of 10.00%. During the same period in the prior year, the firm posted ($0.14) earnings per share. On average, equities analysts anticipate that The Honest Company, Inc. will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Northland Capmk raised shares of Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. B. Riley assumed coverage on shares of Honest in a report on Tuesday, September 10th. They issued a “buy” rating and a $6.50 target price on the stock. Finally, Northland Securities assumed coverage on shares of Honest in a report on Tuesday, August 6th. They issued an “outperform” rating and a $6.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $5.04.

Insider Buying and Selling at Honest

In other Honest news, Director James D. White sold 70,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $3.98, for a total value of $278,600.00. Following the transaction, the director now directly owns 309,244 shares in the company, valued at $1,230,791.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Honest news, Director James D. White sold 70,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $3.98, for a total value of $278,600.00. Following the transaction, the director now directly owns 309,244 shares in the company, valued at $1,230,791.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the completion of the transaction, the insider now owns 9,869,803 shares in the company, valued at $34,544,310.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,531,187 shares of company stock worth $9,018,480 over the last three months. Insiders own 8.60% of the company’s stock.

Honest 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.