Sat Sep 28 18:57:03 UTC 2024: ## Hedge Funds Bet Big on Nike: MBB Public Markets I LLC Increases Stake by Over 2,900%

**New York, NY (September 28, 2024)** – MBB Public Markets I LLC made a significant move in the second quarter, boosting its stake in Nike, Inc. (NYSE:NKE) by a whopping 2,986.8%. The firm now owns 84,640 shares of the sportswear giant, valued at $6,379,000.

This bold move by MBB Public Markets I LLC reflects a broader trend among hedge funds, with several other firms adjusting their positions in Nike during the quarter. Notably, Dark Forest Capital Management LP acquired a new stake valued at $333,000, while Daymark Wealth Partners LLC increased its holding by 1.7%, bringing its total stake to 111,561 shares worth $8,408,000.

Delta Investment Management LLC saw a particularly significant jump, raising its stake by 179.5% to 8,233 shares valued at $621,000. Other notable additions include DoubleLine ETF Adviser LP, which acquired a new position worth $2,454,000, and EDENTREE ASSET MANAGEMENT Ltd, which increased its holding by 7.6% to 132,074 shares valued at $9,953,000.

Overall, institutional investors and hedge funds now own 64.25% of Nike’s stock, signaling strong confidence in the company’s future prospects.

**Nike’s Stock Performance & Dividends**

Nike’s stock opened at $89.43 on Friday. While the stock has seen some fluctuations, its 50-day moving average of $79.67 and 200-day moving average of $86.77 indicate a positive trend.

The company continues to reward shareholders with a quarterly dividend of $0.37 per share, payable on Tuesday, October 1st. This equates to an annualized dividend of $1.48, yielding 1.65%.

**Insider Trading and Analyst Sentiment**

Nike’s Chairman Mark G. Parker recently sold a significant number of shares in a series of transactions. However, despite these sales, insiders still own 0.50% of the company’s stock.

Analysts remain optimistic about Nike’s future, with fifteen rating the stock as a “buy” and another fifteen assigning a “hold” rating. Based on MarketBeat.com data, the consensus price target for Nike is $96.52, suggesting potential upside for investors.

Overall, the recent surge in hedge fund interest and positive analyst sentiment points to a bright future for Nike. The company’s strong brand recognition, global reach, and commitment to innovation position it well for continued success in the athletic apparel and footwear market.

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