Hillman Solutions (NASDAQ:HLMN) Shares Gap Down – Here’s Why

Shares of Hillman Solutions Corp (NASDAQ:HLMN) gapped down before the market opened on Thursday . The stock had previously closed at $9.74, but opened at $9.48. Hillman Solutions shares last traded at $9.64, with a volume of 90,041 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently issued reports on HLMN. Robert W. Baird increased their target price on Hillman Solutions from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Canaccord Genuity Group boosted their price target on shares of Hillman Solutions from $12.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Barclays boosted their target price on Hillman Solutions from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Benchmark increased their price objective on Hillman Solutions from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, William Blair cut shares of Hillman Solutions from an “outperform” rating to a “market perform” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.20.

Hillman Solutions Stock Down 1.5 %

The firm’s 50-day simple moving average is $10.77 and its 200-day simple moving average is $10.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 2.32. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 239.81 and a beta of 1.65.

Hillman Solutions (NASDAQ:HLMN) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $393.30 million during the quarter, compared to the consensus estimate of $389.50 million. Hillman Solutions had a return on equity of 8.81% and a net margin of 0.57%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.11 EPS. Sell-side analysts forecast that Hillman Solutions Corp will post 0.53 earnings per share for the current year.

Insider Activity

In other news, Director Philip Woodlief sold 19,779 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $11.18, for a total value of $221,129.22. Following the transaction, the director now directly owns 55,811 shares in the company, valued at $623,966.98. This trade represents a 26.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott Ride sold 72,523 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.66, for a total transaction of $773,095.18. Following the transaction, the insider now owns 70,369 shares of the company’s stock, valued at approximately $750,133.54. This represents a 50.75 % decrease in their position. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hillman Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. lifted its stake in Hillman Solutions by 231.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,317 shares of the company’s stock valued at $35,000 after purchasing an additional 2,317 shares during the last quarter. Quarry LP acquired a new stake in shares of Hillman Solutions during the 3rd quarter worth about $43,000. Canada Pension Plan Investment Board bought a new position in Hillman Solutions in the 2nd quarter valued at about $57,000. Benjamin F. Edwards & Company Inc. boosted its stake in Hillman Solutions by 103.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,779 shares of the company’s stock valued at $78,000 after purchasing an additional 4,473 shares during the period. Finally, Stratos Wealth Advisors LLC bought a new position in Hillman Solutions during the 3rd quarter worth $132,000. 98.11% of the stock is currently owned by institutional investors and hedge funds.

Hillman Solutions Company Profile

Founded in 1964 and headquartered in Cincinnati, Ohio, Hillman is a leading North American provider of complete hardware solutions, delivered with industry best customer service to over 40,000 locations. Hillman designs innovative product and merchandising solutions for complex categories that deliver an outstanding customer experience to home improvement centers, mass merchants, national and regional hardware stores, pet supply stores, and OEM & Industrial customers.