BNP Paribas Arbitrage SA lowered its position in shares of Barnes & Noble Inc. (NYSE:BKS) by 56.2% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 11,015 shares of the company’s stock after selling 14,161 shares during the period. BNP Paribas Arbitrage SA’s holdings in Barnes & Noble were worth $124,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Suntrust Banks Inc. purchased a new stake in Barnes & Noble during the second quarter worth about $116,000. Emerald Acquisition Ltd. bought a new stake in shares of Barnes & Noble during the second quarter worth $117,000. Rational Advisors LLC bought a new stake in shares of Barnes & Noble during the second quarter worth $126,000. Mason Street Advisors LLC bought a new stake in shares of Barnes & Noble during the second quarter worth $134,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Barnes & Noble by 17.0% in the second quarter. Public Employees Retirement System of Ohio now owns 13,163 shares of the company’s stock worth $149,000 after buying an additional 1,911 shares in the last quarter. 75.59% of the stock is owned by hedge funds and other institutional investors.
Barnes & Noble Inc. (NYSE:BKS) opened at 10.55 on Friday. The firm’s market cap is $771.76 million. Barnes & Noble Inc. has a 52-week low of $7.25 and a 52-week high of $13.89. The company’s 50 day moving average price is $11.19 and its 200 day moving average price is $11.77.
Barnes & Noble (NYSE:BKS) last released its quarterly earnings data on Thursday, September 8th. The company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.02. Barnes & Noble had a negative net margin of 0.10% and a positive return on equity of 6.07%. The business earned $913.90 million during the quarter, compared to analysts’ expectations of $959.65 million. During the same quarter in the prior year, the company earned ($0.68) EPS. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. Analysts predict that Barnes & Noble Inc. will post $0.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date is Wednesday, October 5th. Barnes & Noble’s dividend payout ratio is currently -599.94%.
A number of brokerages have weighed in on BKS. Gabelli cut Barnes & Noble from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Zacks Investment Research raised Barnes & Noble from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Tuesday, July 19th. Finally, Sidoti began coverage on Barnes & Noble in a research report on Thursday, August 18th. They issued a “neutral” rating and a $13.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of C$15.38.
In other Barnes & Noble news, insider Frederic Argir sold 17,377 shares of the stock in a transaction dated Friday, September 9th. The stock was sold at an average price of C$11.59, for a total transaction of C$201,399.43. Following the completion of the transaction, the insider now owns 73,154 shares in the company, valued at approximately C$847,854.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David S. Deason sold 9,620 shares of the stock in a transaction dated Monday, October 10th. The stock was sold at an average price of C$10.79, for a total value of C$103,799.80. Following the transaction, the vice president now owns 96,297 shares of the company’s stock, valued at approximately C$1,039,044.63. The disclosure for this sale can be found here. 19.00% of the stock is currently owned by corporate insiders.
About Barnes & Noble
Barnes & Noble, Inc is a bookseller. The Company is a content and commerce company, which provides access to trade books and other content across its multi-channel distribution platform. It operates in two segments: Barnes & Noble Retail (B&N Retail) and NOOK. The Company is engaged in the sale of trade books (generally hardcover and paperback consumer titles), mass market paperbacks (such as mystery, romance, science fiction and other fiction), children’s books, eBooks and other digital content, textbooks and course-related materials, NOOK and related accessories, bargain books, magazines, gifts, cafe products and services, educational toys and games, music and movies direct to customers through its bookstores or on www.barnesandnoble.com.
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