Abrams Capital Management buys $77.6 Million stake in Barnes & Noble Education Inc (BNED)

Barnes & Noble Education Inc (BNED) : Abrams Capital Management scooped up 541,156 additional shares in Barnes & Noble Education Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 8,761,948 shares of Barnes & Noble Education Inc which is valued at $77.6 Million.Barnes & Noble Education Inc makes up approximately 3.78% of Abrams Capital Management’s portfolio.

Other Hedge Funds, Including , Parametric Portfolio Associates boosted its stake in BNED in the latest quarter, The investment management firm added 27,796 additional shares and now holds a total of 83,001 shares of Barnes & Noble Education Inc which is valued at $735,389. Mark Sheptoff Financial Planning sold out all of its stake in BNED during the most recent quarter. The investment firm sold 5,372 shares of BNED which is valued $47,596.Municipal Employees’ Retirement System Of Michigan boosted its stake in BNED in the latest quarter, The investment management firm added 180 additional shares and now holds a total of 8,319 shares of Barnes & Noble Education Inc which is valued at $78,448. Barnes & Noble Education Inc makes up approx 0.01% of Municipal Employees’ Retirement System Of Michigan’s portfolio.

On the company’s financial health, Barnes & Noble Education Inc reported $0.10 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Mar 8, 2016. Analyst had a consensus of $0.11. The company had revenue of $518.40 million for the quarter, compared to analysts expectations of $534.42 million. The company’s revenue was down -.6 % compared to the same quarter last year.

Many Wall Street Analysts have commented on Barnes & Noble Education Inc. Barnes & Noble Education Inc was Initiated by Sidoti to “Neutral” on May 9, 2016.

Barnes & Noble Education Inc. is a contract operator of bookstores on college and university campuses in the United States. The Company creates and operates campus stores under multi-year management service agreements. Its products and services include Textbook and Course Material Sales Textbook and Course Material Rentals General Merchandise Trade Digital Education Platform (Yuzu) e-commerce Platform FacultyEnlight Campus Connect Technologies platform and Flexible Course Fee Solution. It operates approximately 724 stores across the nation. The Company’s stores are operated under 453 contracts some of which cover multiple store locations and 154 of its college and university affiliated bookstores are co-branded with the Barnes & Noble name. It also operates approximately 36 academic superstores at select campuses including the Harvard Coop University of Pennsylvania Yale University the College of William and Mary Vanderbilt University and Georgia Institute of Technology.

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