Blue Nile Inc. (NASDAQ:NILE) saw strong trading volume on Thursday . 131,900 shares traded hands 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.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Blue Nile from a “hold” rating to a “sell” rating in a research report on Thursday, April 28th. William Blair assumed coverage on shares of Blue Nile in a research report on Friday, June 10th. They issued a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $29.75.

The firm has a 50 day moving average of $27.04 and a 200-day moving average of $27.90. The company has a market cap of $347.43 million and a P/E ratio of 33.52.

Blue Nile (NASDAQ:NILE) last released its earnings results on Thursday, May 5th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The business earned $103.10 million during the quarter, compared to analyst estimates of $103.35 million. During the same period last year, the business posted $0.10 EPS. Blue Nile’s revenue was down 3.2% compared to the same quarter last year. On average, analysts expect that Blue Nile Inc. will post $0.89 earnings per share for the current year.

In other Blue Nile news, Director Michael J. Potter bought 4,000 shares of Blue Nile stock in a transaction on Wednesday, May 11th. The stock was bought at an average price of $25.55 per share, with a total value of $102,200.00. Following the completion of the acquisition, the director now owns 16,504 shares in the company, valued at $421,677.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. New Amsterdam Partners LLC NY increased 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 valued at $4,463,000 after buying an additional 31,666 shares during the period. Dimensional Fund Advisors LP increased 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 valued at $14,022,000 after buying an additional 23,714 shares during the period. Finally, Columbia Wanger Asset Management LLC increased 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 valued at $18,611,000 after buying an additional 48,663 shares during the period.

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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