Towle Co buys $10,576,024 stake in Pier 1 Imports Inc (PIR)

Pier 1 Imports Inc (PIR) : Towle Co scooped up 19,250 additional shares in Pier 1 Imports Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 2,069,672 shares of Pier 1 Imports Inc which is valued at $10,576,024.Pier 1 Imports Inc makes up approximately 1.85% of Towle Co’s portfolio.

Other Hedge Funds, Including , California Public Employees Retirement System boosted its stake in PIR in the latest quarter, The investment management firm added 50,400 additional shares and now holds a total of 539,100 shares of Pier 1 Imports Inc which is valued at $2,754,801. Signaturefd sold out all of its stake in PIR during the most recent quarter. The investment firm sold 303 shares of PIR which is valued $1,551.Cwm boosted its stake in PIR in the latest quarter, The investment management firm added 14 additional shares and now holds a total of 614 shares of Pier 1 Imports Inc which is valued at $3,009.Cutler Group Lp reduced its stake in PIR by selling 18,379 shares or 52.18% in the most recent quarter. The Hedge Fund company now holds 16,840 shares of PIR which is valued at $88,410. Pier 1 Imports Inc makes up approx 0.01% of Cutler Group Lp’s portfolio.

Pier 1 Imports Inc closed down -0.05 points or -0.98% at $5.06 with 13,87,325 shares getting traded on Monday. Post opening the session at $5.12, the shares hit an intraday low of $5.04 and an intraday high of $5.22 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Pier 1 Imports Inc reported $-0.07 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jun 29, 2016. Analyst had a consensus of $-0.05. The company had revenue of $418.40 million for the quarter, compared to analysts expectations of $420.11 million. The company’s revenue was down -4.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.08 EPS.

Many Wall Street Analysts have commented on Pier 1 Imports Inc. Shares were Reiterated by Wedbush on Jun 30, 2016 to “Neutral” and Lowered the Price Target to $ 5 from a previous price target of $6 .Shares were Reiterated by Telsey Advisory Group on Jun 30, 2016 to “Market Perform” and Lowered the Price Target to $ 5 from a previous price target of $6 .Pier 1 Imports Inc was Upgraded by Wolfe Research to ” Peer Perform” on Jun 23, 2016.

Pier 1 Imports Inc. is a global importer of home decor and furniture. The Company’s operations consist of retail stores and an e-commerce Website conducting business under the name Pier 1 Imports which sells a range of furniture home furnishings dining and kitchen goods candles gifts and other specialty items for the home. The Company operates approximately 984 stores in the United States 81 stores in Canada and an e-commerce Website. Its stores in the United States and Canada average approximately 9900 gross square feet which includes an average of approximately 7900 square feet of retail selling space. The stores are located in freestanding units near shopping centers or malls and in-line positions in shopping centers. It operates in all United States and Canadian metropolitan areas and in primary smaller markets. The Company’s categories of merchandise include decorative accessories and furniture.

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