Sei Investments Co. Invests $860,000 in The Honest Company, Inc. (NASDAQ:HNST)

Sei Investments Co. purchased a new position in shares of The Honest Company, Inc. (NASDAQ:HNST) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 53,247 shares of the company’s stock, valued at approximately $860,000. Sei Investments Co. owned 0.06% of The Honest as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in The Honest during the second quarter worth about $8,074,000. Aegon Asset Management UK PLC purchased a new stake in The Honest during the second quarter worth about $4,524,000. Alliancebernstein L.P. purchased a new stake in The Honest during the second quarter worth about $19,925,000. Advisor Group Holdings Inc. purchased a new stake in The Honest during the second quarter worth about $37,000. Finally, Rhumbline Advisers purchased a new stake in The Honest during the second quarter worth about $379,000. Institutional investors and hedge funds own 68.57% of the company’s stock.

NASDAQ:HNST opened at $10.73 on Wednesday. The firm has a 50 day moving average price of $11.99. The company has a quick ratio of 2.61, a current ratio of 4.22 and a debt-to-equity ratio of 0.21. The Honest Company, Inc. has a 1-year low of $9.05 and a 1-year high of $23.88.

The Honest (NASDAQ:HNST) last posted its quarterly earnings data on Thursday, August 12th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. The firm had revenue of $74.60 million during the quarter, compared to analyst estimates of $78.74 million. The Honest’s revenue was up 3.0% compared to the same quarter last year. Research analysts anticipate that The Honest Company, Inc. will post -0.3 earnings per share for the current fiscal year.

HNST has been the topic of a number of research analyst reports. Citigroup decreased their price objective on shares of The Honest from $20.00 to $14.50 and set a “buy” rating on the stock in a report on Monday, August 16th. Loop Capital raised shares of The Honest from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Friday, July 16th. Morgan Stanley downgraded shares of The Honest from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $17.50 to $11.00 in a report on Monday, August 16th. Jefferies Financial Group started coverage on shares of The Honest in a report on Tuesday, July 27th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, Bank of America reduced their price target on shares of The Honest from $18.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, August 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, The Honest has an average rating of “Buy” and an average target price of $15.95.

The Honest Profile

The Honest Company, Inc manufactures and sells baby, personal, and beauty care products. It offers products in the areas of diapers, bath, body, beauty, cleaning, gifts, kids, and clothing. The company serves customers through digital and retail sales channels, such as its website and third-party ecommerce sites, as well as brick and mortar retailers.

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Institutional Ownership by Quarter for The Honest (NASDAQ:HNST)

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