Pivot Point Capital Partners buys $16 Million stake in Mattress Firm Holding Corp (MFRM)

Mattress Firm Holding Corp (MFRM) : Pivot Point Capital Partners scooped up 24,400 additional shares in Mattress Firm Holding Corp 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 482,387 shares of Mattress Firm Holding Corp which is valued at $16 Million.Mattress Firm Holding Corp makes up approximately 8.25% of Pivot Point Capital Partners’s portfolio.

Other Hedge Funds, Including , Quadrature Capital Ltd sold out all of its stake in MFRM during the most recent quarter. The investment firm sold 9,137 shares of MFRM which is valued $303,348. Lazard Asset Management sold out all of its stake in MFRM during the most recent quarter. The investment firm sold 312,855 shares of MFRM which is valued $10.4 Million.Condor Capital Management boosted its stake in MFRM in the latest quarter, The investment management firm added 1,388 additional shares and now holds a total of 12,262 shares of Mattress Firm Holding Corp which is valued at $407,098. Mattress Firm Holding Corp makes up approx 0.10% of Condor Capital Management’s portfolio.Schwab Charles Investment Management Inc boosted its stake in MFRM in the latest quarter, The investment management firm added 1,240 additional shares and now holds a total of 66,459 shares of Mattress Firm Holding Corp which is valued at $2.6 Million.Kornitzer Capital Management Inc Ks boosted its stake in MFRM in the latest quarter, The investment management firm added 93,735 additional shares and now holds a total of 245,010 shares of Mattress Firm Holding Corp which is valued at $9.5 Million. Mattress Firm Holding Corp makes up approx 0.17% of Kornitzer Capital Management Inc Ks’s portfolio.

Mattress Firm Holding Corp opened for trading at $32.4 and hit $33.51 on the upside on Wednesday, eventually ending the session at $33.34, with a gain of 3.03% or 0.98 points. The heightened volatility saw the trading volume jump to 2,58,143 shares. Company has a market cap of $1,236 M.

On the company’s financial health, Mattress Firm Holding Corp reported $0.53 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Mar 21, 2016. Analyst had a consensus of $0.56. The company had revenue of $618.50 million for the quarter, compared to analysts expectations of $622.35 million. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Many Wall Street Analysts have commented on Mattress Firm Holding Corp. Mattress Firm Holding Corp was Downgraded by Sun Trust Rbsn Humphrey to ” Neutral” on Mar 22, 2016. Mattress Firm Holding Corp was Initiated by Longbow to “Neutral” on Mar 15, 2016.

Mattress Firm Holding Corp. is a holding company. The Company through its direct and indirect subsidiaries is a retailer of mattresses and bedding-related products in various metropolitan markets in the United States through company-operated and franchise-owned mattress specialty stores that operate primarily under the name Mattress Firm. The Company operates through two reportable segments: retail operations and franchise operations. The Company-operated stores its e-commerce Website operations and multi-channel sales operations consisting primarily of special events comprise the Company’s retail operations segment. For its franchise operations segment franchise fees and royalty income received from its franchisees fully represent results of operations.

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