First Mercantile Trust Co Lowers stake in Plantronics Inc (PLT)

Plantronics Inc (PLT) : First Mercantile Trust Co reduced its stake in Plantronics Inc by 10.57% during the most recent quarter end. The investment management company now holds a total of 15,660 shares of Plantronics Inc which is valued at $809,779 after selling 1,850 shares in Plantronics Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Plantronics Inc makes up approximately 0.11% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading sold out all of its stake in PLT during the most recent quarter. The investment firm sold 131 shares of PLT which is valued $6,774.Bnp Paribas Arbitrage Sa reduced its stake in PLT by selling 8,992 shares or 57.08% in the most recent quarter. The Hedge Fund company now holds 6,761 shares of PLT which is valued at $354,344.Eqis Capital Management boosted its stake in PLT in the latest quarter, The investment management firm added 14,649 additional shares and now holds a total of 29,988 shares of Plantronics Inc which is valued at $1,571,671. Plantronics Inc makes up approx 0.10% of Eqis Capital Management’s portfolio. Washington Trust Bank sold out all of its stake in PLT during the most recent quarter. The investment firm sold 37 shares of PLT which is valued $1,939. Beacon Financial Group added PLT to its portfolio by purchasing 6,549 company shares during the most recent quarter which is valued at $343,233. Plantronics Inc makes up approx 0.07% of Beacon Financial Group’s portfolio.

Plantronics Inc closed down -0.66 points or -1.26% at $51.71 with 86,923 shares getting traded on Friday. Post opening the session at $52.49, the shares hit an intraday low of $51.23 and an intraday high of $52.51 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Plantronics Inc reported $0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.71. The company had revenue of $223.10 million for the quarter, compared to analysts expectations of $218.52 million. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS.

Plantronics Inc. (Plantronics) is engaged in the design manufacture and distribution of headsets for business and consumer applications and other specialty products for the hearing impaired. The Company is a global designer manufacturer and marketer of lightweight communications headsets telephone headset systems other communication endpoints and accessories for the business and consumer markets under the Plantronics brand. Its headsets are used for applications such as Unified Communications (UC) in contact centers in the office and in the home with mobile phones and Internet telephony for gaming and for other specialty applications. Its product categories include Enterprise which includes corded and cordless communication headsets audio processors and telephone systems; and Consumer which includes Bluetooth and corded products for mobile phone applications personal computer (PC) and gaming headsets and specialty products marketed for hearing impaired individuals.

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