Abrams Capital Management buys $110.5 Million stake in Barnes & Noble (BKS)

Barnes & Noble (BKS) : Abrams Capital Management scooped up 3,000,000 additional shares in Barnes & Noble 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 10,418,774 shares of Barnes & Noble which is valued at $110.5 Million.Barnes & Noble makes up approximately 5.39% of Abrams Capital Management’s portfolio.

Other Hedge Funds, Including , Bogle Investment Management L P De sold out all of its stake in BKS during the most recent quarter. The investment firm sold 387,536 shares of BKS which is valued $4.1 Million.New York State Common Retirement Fund reduced its stake in BKS by selling 302,160 shares or 80.3% in the most recent quarter. The Hedge Fund company now holds 74,120 shares of BKS which is valued at $842,003.Teachers Advisors Inc boosted its stake in BKS in the latest quarter, The investment management firm added 2,653 additional shares and now holds a total of 77,429 shares of Barnes & Noble which is valued at $879,593.

Barnes & Noble opened for trading at $11.56 and hit $11.82 on the upside on Wednesday, eventually ending the session at $11.77, with a gain of 1.38% or 0.16 points. The heightened volatility saw the trading volume jump to 4,58,093 shares. Company has a market cap of $879 M.

On the company’s financial health, Barnes & Noble reported $1.04 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Mar 3, 2016. Analyst had a consensus of $1.06. The company had revenue of $1413.95 million for the quarter, compared to analysts expectations of $1409.47 million. The company’s revenue was down -1.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.93 EPS.

Barnes & Noble Inc. is a retailer of content digital media and educational products. The Company’s segments include Barnes & Noble Retail (B&N Retail) and NOOK. The Company is a content commerce and technology company which provides access to trade books textbooks magazines newspapers and other content across its multi-channel distribution platform. The Company’s principal business is 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 emblematic apparel and gifts school and dorm supplies cafe products and services educational toys and games music and movies direct to customers through its bookstores or on barnesandnoble.com. The Company operates approximately 648 bookstores in around 50 states.

Leave a Reply

Barnes & Noble - Is it time to Sell?

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