Blue Nile Inc. (NILE) Sees Strong Trading Volume
Blue Nile Inc. (NASDAQ:NILE) saw unusually-strong trading volume on Thursday . Approximately 131,900 shares were traded during mid-day trading, an increase of 48% from the previous session’s volume of 89,224 shares.The stock last traded at $30.13 and had previously closed at $29.92.
Several equities research analysts recently issued reports on NILE shares. Zacks Investment Research raised shares of Blue Nile from a “sell” rating to a “hold” rating in a report on Wednesday, April 20th. William Blair started coverage on shares of Blue Nile in a report on Friday, June 10th. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $29.75.
The stock’s 50 day moving average price is $26.92 and its 200 day moving average price is $27.95. The company has a market capitalization of $349.75 million and a price-to-earnings ratio of 33.74.
Blue Nile (NASDAQ:NILE) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. During the same quarter in the prior year, the company posted $0.10 earnings per share. The business had revenue of $103.10 million for the quarter, compared to analysts’ expectations of $103.35 million. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Blue Nile Inc. will post $0.89 earnings per share for the current year.
In other Blue Nile news, Director Michael J. Potter purchased 4,000 shares of the stock in a transaction dated Wednesday, May 11th. The stock was acquired at an average cost of $25.55 per share, for a total transaction of $102,200.00. Following the acquisition, the director now owns 16,504 shares in the company, valued at approximately $421,677.20. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
Other institutional investors have added to or reduced their stakes in the company. Columbia Wanger Asset Management LLC boosted its position in Blue Nile by 10.8% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 501,252 shares of the company’s stock worth $18,611,000 after buying an additional 48,663 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Blue Nile by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 377,634 shares of the company’s stock worth $14,022,000 after buying an additional 23,714 shares in the last quarter. Finally, New Amsterdam Partners LLC NY boosted its position in Blue Nile by 35.8% in the fourth quarter. New Amsterdam Partners LLC NY now owns 120,189 shares of the company’s stock worth $4,463,000 after buying an additional 31,666 shares in the last quarter.
Blue Nile, Inc is an online retailer of diamonds and fine jewelry. The Company operates through the online retail jewelry segment. It sells its products through the Blue Nile Website in over 40 countries and territories across the world. Its domestic sales consist of products delivered to customers within the United States and its international sales consist of products delivered to customers outside the United States.
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