Hillsdale Investment Management Inc. Has $346,000 Stake in The Honest Company, Inc. (NASDAQ:HNST)

Hillsdale Investment Management Inc. reduced its holdings in The Honest Company, Inc. (NASDAQ:HNST) by 17.2% in the 4th quarter, Holdings Channel reports. The fund owned 50,000 shares of the company’s stock after selling 10,400 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Honest were worth $346,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Ieq Capital LLC increased its stake in Honest by 61.3% during the 4th quarter. Ieq Capital LLC now owns 130,651 shares of the company’s stock worth $905,000 after purchasing an additional 49,673 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Honest by 216.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,323 shares of the company’s stock worth $1,947,000 after acquiring an additional 372,749 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Honest during the third quarter worth $260,000. Los Angeles Capital Management LLC bought a new stake in Honest in the 4th quarter valued at $819,000. Finally, ArrowMark Colorado Holdings LLC boosted its stake in Honest by 6.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company’s stock worth $11,295,000 after purchasing an additional 191,547 shares during the period. Institutional investors and hedge funds own 45.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Telsey Advisory Group restated a “market perform” rating and issued a $7.00 price target on shares of Honest in a report on Thursday, February 27th. Loop Capital cut Honest from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a research note on Tuesday, December 17th. Finally, Northland Securities raised their price target on shares of Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $7.42.

Honest Stock Up 2.6 %

NASDAQ:HNST opened at $5.15 on Tuesday. The firm has a market capitalization of $560.89 million, a price-to-earnings ratio of -128.75 and a beta of 2.45. The Honest Company, Inc. has a twelve month low of $2.40 and a twelve month high of $8.97. The stock’s 50 day moving average price is $5.75 and its two-hundred day moving average price is $5.55.

Honest (NASDAQ:HNST) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $99.84 million for the quarter, compared to analyst estimates of $96.46 million. As a group, analysts anticipate that The Honest Company, Inc. will post -0.07 earnings per share for the current year.

Insider Buying and Selling

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

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.