Arbiter Partners Capital Management adds Staples (SPLS) to its portfolio

Staples (SPLS) : Arbiter Partners Capital Management added new position in Staples during the most recent quarter end. The investment management firm now holds 323,000 shares of Staples which is valued at $2,968,370 , the company said in a statement filed on Aug 15, 2016 with the SEC.Staples makes up approximately 1.00% of Arbiter Partners Capital Management’s portfolio.

Other Hedge Funds, Including , Connor Clark Lunn Investment Management Ltd. reduced its stake in SPLS by selling 36,700 shares or 71.96% in the most recent quarter. The Hedge Fund company now holds 14,300 shares of SPLS which is valued at $131,417.Baird Financial Group boosted its stake in SPLS in the latest quarter, The investment management firm added 98,990 additional shares and now holds a total of 145,305 shares of Staples which is valued at $1,335,353. Staples makes up approx 0.01% of Baird Financial Group’s portfolio.Victory Capital Management Inc reduced its stake in SPLS by selling 197 shares or 2.33% in the most recent quarter. The Hedge Fund company now holds 8,249 shares of SPLS which is valued at $76,633. Proficio Capital Partners sold out all of its stake in SPLS during the most recent quarter. The investment firm sold 129 shares of SPLS which is valued $1,198.Hl Financial Services boosted its stake in SPLS in the latest quarter, The investment management firm added 20,692 additional shares and now holds a total of 2,465,849 shares of Staples which is valued at $22,809,103. Staples makes up approx 0.53% of Hl Financial Services’s portfolio.

Staples closed down -0.05 points or -0.58% at $8.51 with 47,73,661 shares getting traded on Thursday. Post opening the session at $8.59, the shares hit an intraday low of $8.43 and an intraday high of $8.635 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Staples reported $0.12 EPS for the quarter, based on the information available during the earnings call on Aug 17, 2016. Analyst had a consensus estimate of $0.12. The company had revenue of $4752.00 million for the quarter, compared to analysts expectations of $4762.00 million. The company’s revenue was down -3.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.12 EPS.

Many Wall Street Analysts have commented on Staples. Staples was Upgraded by BofA/Merrill to ” Buy” on May 23, 2016.

Staples Inc. is a provider of products and services that serve the needs of business customers and consumers. The Company offers a selection of products such as Websites and mobile platforms retail and online shopping and a range of copy and print and technology services. It operates in three business segments: North American Stores & Online North American Commercial and International Operations. The North American Stores & Online segment includes its retail stores and Staples.com businesses in the United States and Canada. The North American Commercial segment consists of the United States and Canadian businesses that sell and deliver products and services directly to businesses including Staples Advantage and Quill.com. The International Operations segment consists of businesses in around 23 countries in Europe Australia South America and Asia. It serves businesses in North America Europe Australia South America and Asia. Its delivery business offers online order placing.

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