Rutabaga Capital Managementma Lowers stake in Blue Nile Inc (NILE)

Blue Nile Inc (NILE) : Rutabaga Capital Managementma reduced its stake in Blue Nile Inc by 9.34% during the most recent quarter end. The investment management company now holds a total of 728,110 shares of Blue Nile Inc which is valued at $20,583,670 after selling 75,000 shares in Blue Nile Inc , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Blue Nile Inc makes up approximately 3.56% of Rutabaga Capital Managementma’s portfolio.

Other Hedge Funds, Including , California Public Employees Retirement System reduced its stake in NILE by selling 600 shares or 2.87% in the most recent quarter. The Hedge Fund company now holds 20,300 shares of NILE which is valued at $573,881. Quantbot Technologies Lp sold out all of its stake in NILE during the most recent quarter. The investment firm sold 200 shares of NILE which is valued $5,654.Mazama Capital Management Inc reduced its stake in NILE by selling 357 shares or 32.37% in the most recent quarter. The Hedge Fund company now holds 746 shares of NILE which is valued at $21,716.Bnp Paribas Arbitrage Sa boosted its stake in NILE in the latest quarter, The investment management firm added 1,912 additional shares and now holds a total of 3,689 shares of Blue Nile Inc which is valued at $107,387.

Blue Nile Inc closed down -0.42 points or -1.40% at $29.62 with 1,11,172 shares getting traded on Monday. Post opening the session at $30.02, the shares hit an intraday low of $29.39 and an intraday high of $30.24 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Blue Nile Inc reported $0.18 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $0.21. The company had revenue of $113.77 million for the quarter, compared to analysts expectations of $113.95 million. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Blue Nile Inc. (Blue Nile) is an online retailer of diamonds and jewelry. The Company offers its products for sale through the Blue Nile Website in around 40 countries and territories across the world. The Company’s wholly owned subsidiaries include Blue Nile LLC (LLC) which serves the Company’s customers in the United States Canada and Asia Pacific; Blue Nile Worldwide Inc. which serves the Company’s customers in Europe; Blue Nile (Shanghai) Trading Co. Ltd. which serves the Company’s customers in China and Blue Nile Jewellery Ltd (Jewellery) which operates a customer service and fulfillment center in Dublin Ireland. The Company’s domestic sales consist of products delivered to customers within the United States and the Company’s international sales consist of products delivered to customers outside the United States.

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