BNP Paribas Arbitrage SA Raises Stake in Blue Nile Inc. (NILE)
BNP Paribas Arbitrage SA boosted its stake in shares of Blue Nile Inc. (NASDAQ:NILE) by 107.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,689 shares of the company’s stock after buying an additional 1,912 shares during the period. BNP Paribas Arbitrage SA’s holdings in Blue Nile were worth $101,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. purchased a new position in Blue Nile during the first quarter valued at approximately $586,000. University of Notre Dame DU Lac increased its stake in Blue Nile by 73.0% in the first quarter. University of Notre Dame DU Lac now owns 49,996 shares of the company’s stock worth $1,285,000 after buying an additional 21,101 shares during the last quarter. Nisa Investment Advisors L.L.C. increased its stake in Blue Nile by 145.6% in the first quarter. Nisa Investment Advisors L.L.C. now owns 16,700 shares of the company’s stock worth $429,000 after buying an additional 9,900 shares during the last quarter. Springbok Capital Management LLC bought a new stake in Blue Nile during the first quarter worth $170,000. Finally, Royal Bank of Canada increased its stake in Blue Nile by 1,894.5% in the first quarter. Royal Bank of Canada now owns 3,989 shares of the company’s stock worth $103,000 after buying an additional 3,789 shares during the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.
Blue Nile Inc. (NASDAQ:NILE) traded up 0.82% during midday trading on Friday, reaching $34.42. 68,487 shares of the company traded hands. The stock’s 50 day moving average is $34.41 and its 200 day moving average is $28.69. Blue Nile Inc. has a one year low of $22.33 and a one year high of $39.00. The company has a market capitalization of $399.82 million, a price-to-earnings ratio of 39.47 and a beta of 0.54.
Blue Nile (NASDAQ:NILE) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.03. Blue Nile had a net margin of 2.14% and a return on equity of 71.40%. The company had revenue of $113.77 million for the quarter, compared to the consensus estimate of $113.95 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, equities analysts anticipate that Blue Nile Inc. will post $0.88 earnings per share for the current year.
A number of research firms have recently weighed in on NILE. William Blair began coverage on shares of Blue Nile in a research note on Friday, June 10th. They issued a “market perform” rating on the stock. Zacks Investment Research upgraded shares of Blue Nile from a “sell” rating to a “hold” rating in a research note on Friday, September 9th. Finally, TheStreet upgraded shares of Blue Nile from a “hold” rating to a “buy” rating in a research note on Monday, September 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Blue Nile currently has a consensus rating of “Hold” and a consensus target price of $25.67.
Blue Nile Company Profile
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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