Connor Clark & Lunn Investment Management Ltd. Grows Stake in The Hain Celestial Group, Inc. (NASDAQ:HAIN)

Connor Clark & Lunn Investment Management Ltd. raised its position in The Hain Celestial Group, Inc. (NASDAQ:HAIN) by 257.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 496,842 shares of the company’s stock after acquiring an additional 357,669 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in The Hain Celestial Group were worth $4,288,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP raised its position in The Hain Celestial Group by 433.5% in the third quarter. Allworth Financial LP now owns 2,982 shares of the company’s stock worth $26,000 after acquiring an additional 2,423 shares during the period. Signaturefd LLC raised its holdings in The Hain Celestial Group by 125.9% in the 2nd quarter. Signaturefd LLC now owns 3,994 shares of the company’s stock worth $28,000 after purchasing an additional 2,226 shares during the period. nVerses Capital LLC lifted its position in The Hain Celestial Group by 161.1% during the second quarter. nVerses Capital LLC now owns 4,700 shares of the company’s stock valued at $32,000 after purchasing an additional 2,900 shares in the last quarter. CWM LLC increased its position in The Hain Celestial Group by 357.8% in the second quarter. CWM LLC now owns 8,822 shares of the company’s stock worth $61,000 after buying an additional 6,895 shares in the last quarter. Finally, Choreo LLC purchased a new stake in The Hain Celestial Group in the second quarter worth about $71,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HAIN has been the subject of several analyst reports. DA Davidson reduced their target price on shares of The Hain Celestial Group from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Tuesday, November 12th. Barclays decreased their price objective on shares of The Hain Celestial Group from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Stifel Nicolaus upped their target price on shares of The Hain Celestial Group from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Piper Sandler reissued a “neutral” rating and set a $8.00 price target on shares of The Hain Celestial Group in a report on Thursday, September 19th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, The Hain Celestial Group has an average rating of “Hold” and an average price target of $9.43.

The Hain Celestial Group Stock Up 2.4 %

Shares of NASDAQ HAIN opened at $8.24 on Friday. The Hain Celestial Group, Inc. has a 1 year low of $5.68 and a 1 year high of $11.68. The firm has a 50-day simple moving average of $8.22 and a two-hundred day simple moving average of $7.62. The company has a market cap of $743.17 million, a P/E ratio of -8.77 and a beta of 0.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.01 and a quick ratio of 1.05.

The Hain Celestial Group (NASDAQ:HAIN) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The Hain Celestial Group had a positive return on equity of 3.13% and a negative net margin of 4.94%. The company had revenue of $394.60 million during the quarter, compared to the consensus estimate of $394.24 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. Research analysts anticipate that The Hain Celestial Group, Inc. will post 0.46 earnings per share for the current year.

Insider Activity

In other news, insider Chad D. Marquardt acquired 5,300 shares of The Hain Celestial Group stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $8.32 per share, for a total transaction of $44,096.00. Following the acquisition, the insider now directly owns 15,300 shares of the company’s stock, valued at $127,296. This trade represents a 53.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.83% of the company’s stock.

The Hain Celestial Group Profile

The Hain Celestial Group, Inc manufactures, markets, and sells organic and natural products in United States, United Kingdom, Europe, and internationally. It operates through two segments: North America and International. The company offers infant formula; infant, toddler, and kids' food; plant-based beverages and frozen desserts, such as soy, rice, oat, and spelt; and condiments.