Stadium Capital Management adds Plantronics Inc (PLT) to its portfolio

Plantronics Inc (PLT) : Stadium Capital Management added new position in Plantronics Inc during the most recent quarter end. The investment management firm now holds 572,711 shares of Plantronics Inc which is valued at $24.2 Million , the company said in a statement filed on May 12, 2016 with the SEC.Plantronics Inc makes up approximately 8.77% of Stadium Capital Management’s portfolio.

Other Hedge Funds, Including , Bahl Gaynor Inc boosted its stake in PLT in the latest quarter, The investment management firm added 65 additional shares and now holds a total of 13,591 shares of Plantronics Inc which is valued at $573,268. Plantronics Inc makes up approx 0.01% of Bahl Gaynor Inc’s portfolio.First Trust Advisors Lp reduced its stake in PLT by selling 22,509 shares or 48.7% in the most recent quarter. The Hedge Fund company now holds 23,715 shares of PLT which is valued at $1 Million.Schwab Charles Investment Management Inc boosted its stake in PLT in the latest quarter, The investment management firm added 8,718 additional shares and now holds a total of 157,162 shares of Plantronics Inc which is valued at $6.7 Million. Plantronics Inc makes up approx 0.01% of Schwab Charles Investment Management Inc’s portfolio.

Plantronics Inc opened for trading at $41.96 and hit $42.69 on the upside on Friday, eventually ending the session at $42.65, with a gain of 2.16% or 0.9 points. The heightened volatility saw the trading volume jump to 1,85,167 shares. Company has a market cap of $1,417 M.

On the company’s financial health, Plantronics Inc reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.55. The company had revenue of $209.80 million for the quarter, compared to analysts expectations of $205.07 million. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.

Many Wall Street Analysts have commented on Plantronics Inc. Plantronics Inc was Upgraded by Raymond James to ” Mkt Perform” on May 4, 2016.

Plantronics Inc. (Plantronics) is engaged in the design manufacture and distribution of headsets for business and consumer applications and other specialty products for the hearing impaired. The Company is a global designer manufacturer and marketer of lightweight communications headsets telephone headset systems other communication endpoints and accessories for the business and consumer markets under the Plantronics brand. Its headsets are used for applications such as Unified Communications (UC) in contact centers in the office and in the home with mobile phones and Internet telephony for gaming and for other specialty applications. Its product categories include Enterprise which includes corded and cordless communication headsets audio processors and telephone systems; and Consumer which includes Bluetooth and corded products for mobile phone applications personal computer (PC) and gaming headsets and specialty products marketed for hearing impaired individuals.

Leave a Reply

Plantronics Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Plantronics Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.