Trade Report: The Finish Line Inc. Declares Quarterly Dividend of $0.10 (FINL)

The Finish Line Inc. Declares Quarterly Dividend of $0.10 (FINL)

The Finish Line Inc. (NASDAQ:FINL) declared a quarterly dividend on Thursday, October 13th. Shareholders of record on Friday, November 25th will be paid a dividend of 0.10 per share on Monday, December 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.84%.

The Finish Line (NASDAQ:FINL) opened at 21.71 on Friday. The firm’s 50-day moving average price is $23.14 and its 200-day moving average price is $20.88. The firm has a market cap of $880.60 million, a price-to-earnings ratio of 68.70 and a beta of 0.99. The Finish Line has a 12 month low of $15.37 and a 12 month high of $24.52.

The Finish Line (NASDAQ:FINL) last posted its quarterly earnings results on Friday, September 23rd. The company reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. The firm earned $509.40 million during the quarter. The Finish Line had a return on equity of 8.83% and a net margin of 0.72%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the company earned $0.57 EPS. Equities research analysts predict that The Finish Line will post $1.54 earnings per share for the current year.

FINL has been the subject of several recent research reports. Piper Jaffray Cos. set a $18.00 price target on The Finish Line and gave the company a “hold” rating in a report on Wednesday, September 21st. Bank of America Corp. reaffirmed a “buy” rating and issued a $26.00 price target on shares of The Finish Line in a report on Monday, September 26th. Brean Capital reaffirmed a “buy” rating and issued a $24.00 price target on shares of The Finish Line in a report on Monday, October 3rd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $24.00 price target (up previously from $23.40) on shares of The Finish Line in a report on Monday, September 12th. Finally, Zacks Investment Research cut The Finish Line from a “buy” rating to a “hold” rating in a report on Monday, September 12th. Thirteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The Finish Line has an average rating of “Hold” and an average target price of $22.75.

In related news, insider Glenn S. Lyon sold 38,523 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $23.19, for a total value of $893,348.37. Following the completion of the transaction, the insider now directly owns 192,088 shares of the company’s stock, valued at approximately $4,454,520.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Norman H. Gurwitz sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $22.41, for a total transaction of $67,230.00. Following the completion of the transaction, the director now directly owns 5,518 shares of the company’s stock, valued at $123,658.38. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FINL. Vanguard Group Inc. increased its position in The Finish Line by 0.7% in the second quarter. Vanguard Group Inc. now owns 3,414,977 shares of the company’s stock valued at $68,948,000 after buying an additional 23,710 shares during the period. BlackRock Inc. increased its position in The Finish Line by 263.2% in the second quarter. BlackRock Inc. now owns 15,074 shares of the company’s stock valued at $305,000 after buying an additional 10,924 shares during the period. BlackRock Group LTD increased its position in The Finish Line by 7.8% in the second quarter. BlackRock Group LTD now owns 78,281 shares of the company’s stock valued at $1,580,000 after buying an additional 5,654 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in The Finish Line by 1.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,155,221 shares of the company’s stock valued at $23,324,000 after buying an additional 12,005 shares during the period. Finally, Trexquant Investment LP increased its position in The Finish Line by 31.2% in the second quarter. Trexquant Investment LP now owns 42,100 shares of the company’s stock valued at $850,000 after buying an additional 10,000 shares during the period.

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