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HAIN Celestial Group Inc. (NASDAQ:HAIN) Director Neil Campbell recently acquired 25,640 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The insider purchase comes as the stock has declined over 73% in the past year, trading near its 52-week lows. The shares were purchased at an average price of $1.9258 per share, totaling approximately $49,377.
Following this transaction, Campbell now directly owns 62,929 shares of HAIN Celestial Group. The purchase was filed under a Form 4 report, which is used to disclose changes in ownership of company insiders.
In other recent news, Hain Celestial reported disappointing fiscal third-quarter results, with earnings per share (EPS) of $0.07 falling short of the anticipated $0.1338. The company’s revenue also missed expectations, coming in at $390.35 million compared to the forecasted $416.21 million. This underperformance has led to a strategic review and a change in leadership, with Allison Lewis (JO:LEWJ) stepping in as interim CEO. Analyst firms have reacted to these developments, with Bernstein downgrading Hain Celestial’s stock from Outperform to Market Perform and cutting the price target from $8.00 to $1.50. Jefferies also adjusted its price target to $1.99 while maintaining a Hold rating. Both firms cited the company’s management changes and strategic uncertainties as reasons for their cautious outlooks. Hain Celestial’s challenges are compounded by a decline in North American sales, particularly in the snacks segment, despite slight growth in international markets. The company is focusing on brand innovation and cost reduction as part of its strategic initiatives to address these issues.
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