Ranger Investment Management L.P. has reduced its holdings in Boot Barn Holdings, Inc. (NYSE: BOOT) by 2.6% during the third quarter of 2023. According to a disclosure filed with the Securities and Exchange Commission (SEC), the institutional investor now owns 184,345 shares after selling 4,825 shares in that period. Boot Barn constitutes approximately 2.1% of Ranger’s investment portfolio, ranking as its 13th largest position. As of the latest reporting, these shares are valued at about $30.55 million.
Several other hedge funds have also adjusted their stakes in Boot Barn. ORG Partners LLC acquired a new position worth $25,000 in the third quarter, while Bessemer Group Inc. increased its stake by 134.2% during the second quarter, now holding 185 shares valued at $28,000 after purchasing an additional 106 shares. Meanwhile, Parkside Financial Bank & Trust raised its holdings by 164.4%, now owning 193 shares valued at $32,000 after acquiring 120 more shares. Additionally, Salomon & Ludwin LLC and Independence Bank of Kentucky both purchased new positions in Boot Barn, valued at approximately $42,000 and $46,000, respectively.
In related news, Director Gene Eddie Burt sold 1,200 shares of Boot Barn on December 1, 2023, at an average price of $191.41, resulting in a total transaction of $229,692. After this sale, Burt’s remaining shares are valued at approximately $638,926.58, reflecting a 26.44% decrease in his position. This transaction has been documented in filings available through the SEC.
Boot Barn’s stock performance has seen significant movement recently. On Friday, shares opened at $198.76, with a market capitalization of $6.06 billion. The company’s price-to-earnings (P/E) ratio stands at 27.36, while its beta is recorded at 1.67. Over the past year, Boot Barn’s stock has fluctuated between a low of $86.17 and a high of $210.25. The stock’s 50-day moving average is $190.56, and the 200-day moving average is $182.29.
Boot Barn recently announced its earnings results on February 4, 2023, reporting earnings per share (EPS) of $2.79, which met analysts’ consensus expectations. The company generated revenue of $705.64 million for the quarter, surpassing the projected $700.71 million. The return on equity was reported at 18.73% with a net margin of 10.10%. This performance indicates a year-over-year revenue increase of 16.0%. Last year, during the same quarter, Boot Barn reported an EPS of $2.43.
Looking forward, Boot Barn has provided guidance for the fiscal year 2026, projecting an EPS range of $7.250 to $7.350, with specific guidance for the fourth quarter set between $1.350 and $1.450 EPS. Analysts forecast that Boot Barn Holdings, Inc. will report an EPS of $5.82 for the current year.
Founded in 1978 in Southern California, Boot Barn has established itself as a leading specialty retailer focused on western and work-related footwear, apparel, and accessories. The company operates retail stores under the Boot Barn and BootBarn.com brands, providing a diverse selection of cowboy boots, work boots, casual footwear, and western apparel. In addition to its physical stores, Boot Barn offers an e-commerce platform to serve customers nationwide.
For those interested in tracking Boot Barn’s stock and insider activities, resources are available through financial news channels and market analysis platforms.
