Mason Street Advisors LLC Buys New Stake in Barnes & Noble, Inc. (BKS)
Mason Street Advisors LLC bought a new position in shares of Barnes & Noble, Inc. (NYSE:BKS) during the second quarter, Holdings Channel reports. The institutional investor bought 11,827 shares of the company’s stock, valued at approximately $134,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of BKS. Vanguard Group Inc. increased its position in Barnes & Noble by 2.7% in the second quarter. Vanguard Group Inc. now owns 4,558,830 shares of the company’s stock worth $51,742,000 after buying an additional 121,648 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Barnes & Noble by 12.0% in the second quarter. BlackRock Fund Advisors now owns 3,993,681 shares of the company’s stock worth $45,328,000 after buying an additional 429,412 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Barnes & Noble by 5.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,493,500 shares of the company’s stock worth $16,951,000 after buying an additional 82,133 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Barnes & Noble by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 1,266,793 shares of the company’s stock worth $14,378,000 after buying an additional 25,990 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in shares of Barnes & Noble by 50.5% in the first quarter. Loomis Sayles & Co. L P now owns 722,692 shares of the company’s stock worth $8,932,000 after buying an additional 242,481 shares in the last quarter. 75.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Barnes & Noble, Inc. (NYSE:BKS) opened at 10.52 on Monday. The company’s 50-day moving average is $11.16 and its 200-day moving average is $11.76. Barnes & Noble, Inc. has a 52 week low of $7.25 and a 52 week high of $13.89. The firm’s market cap is $769.57 million.
Barnes & Noble (NYSE:BKS) last announced its quarterly earnings results on Thursday, September 8th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $913.90 million for the quarter, compared to analysts’ expectations of $959.65 million. Barnes & Noble had a negative net margin of 0.10% and a positive return on equity of 6.07%. Barnes & Noble’s revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.68) earnings per share. Analysts forecast that Barnes & Noble, Inc. will post $0.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.70%. Barnes & Noble’s payout ratio is currently -599.94%.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Barnes & Noble from a “hold” rating to a “sell” rating in a research note on Tuesday, October 11th. Sidoti assumed coverage on shares of Barnes & Noble in a research note on Thursday, August 18th. They set a “neutral” rating and a $13.00 price target for the company. Finally, Gabelli cut shares of Barnes & Noble from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of C$15.38.
In other news, VP David S. Deason sold 9,620 shares of the business’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of C$10.79, for a total transaction of C$103,799.80. Following the transaction, the vice president now directly owns 96,297 shares of the company’s stock, valued at C$1,039,044.63. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Frederic Argir sold 17,377 shares of the business’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of C$11.59, for a total transaction of C$201,399.43. Following the transaction, the insider now directly owns 73,154 shares in the company, valued at C$847,854.86. The disclosure for this sale can be found here. Insiders own 19.00% of the company’s stock.
Barnes & Noble Company Profile
Barnes & Noble, Inc is a bookseller. The Company is a content and commerce company, which provides access to trade books and other content across its multi-channel distribution platform. It operates in two segments: Barnes & Noble Retail (B&N Retail) and NOOK. The Company is engaged in the sale of trade books (generally hardcover and paperback consumer titles), mass market paperbacks (such as mystery, romance, science fiction and other fiction), children’s books, eBooks and other digital content, textbooks and course-related materials, NOOK and related accessories, bargain books, magazines, gifts, cafe products and services, educational toys and games, music and movies direct to customers through its bookstores or on www.barnesandnoble.com.
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