Alden Global Opportunities Master Fund, LP Maintains 9.5% Stake in Pier 1 Imports Inc. (PIR)
Alden Global Opportunities Master Fund, LP recently disclosed that they own a 9.5% stake in Pier 1 Imports Inc. (NYSE:PIR) in a Schedule 13D/A disclosure that was filed with the SEC on Tuesday, October 18th. The investor owns 7,913,500 shares of the stock worth about $32,920,160. The reporting parties listed on the disclosure included Alden Global Opportunities Master Fund, LP, Alden Global Capital LLC and Heath Freeman. The disclosure is available through the SEC website at this link.
Several other hedge funds have also made changes to their positions in the stock. TIAA CREF Investment Management LLC raised its position in Pier 1 Imports by 36.1% in the first quarter. TIAA CREF Investment Management LLC now owns 463,781 shares of the company’s stock worth $3,251,000 after buying an additional 123,047 shares in the last quarter. Bayesian Capital Management LP purchased a new position in Pier 1 Imports during the first quarter worth $118,000. Aristotle Capital Boston LLC raised its position in Pier 1 Imports by 3.0% in the second quarter. Aristotle Capital Boston LLC now owns 410,748 shares of the company’s stock worth $2,111,000 after buying an additional 12,139 shares in the last quarter. Mckinley Capital Management LLC Delaware purchased a new position in Pier 1 Imports during the second quarter worth $3,376,000. Finally, Skyline Asset Management LP raised its position in Pier 1 Imports by 3.9% in the first quarter. Skyline Asset Management LP now owns 2,360,400 shares of the company’s stock worth $16,546,000 after buying an additional 87,700 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors.
Pier 1 Imports Inc. (NYSE:PIR) traded up 1.44% on Tuesday, hitting $4.22. 513,537 shares of the stock were exchanged. The stock has a market cap of $339.44 million, a PE ratio of 17.73 and a beta of 1.82. Pier 1 Imports Inc. has a 1-year low of $3.73 and a 1-year high of $8.23. The company’s 50 day moving average is $4.31 and its 200 day moving average is $5.29.
Pier 1 Imports (NYSE:PIR) last released its quarterly earnings results on Wednesday, September 28th. The company reported ($0.05) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.05). Pier 1 Imports had a net margin of 1.06% and a return on equity of 7.20%. The company had revenue of $405.80 million for the quarter. During the same period in the prior year, the business earned $0.04 EPS. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, equities research analysts expect that Pier 1 Imports Inc. will post $0.24 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 6.73%. The ex-dividend date of this dividend is Monday, October 17th. Pier 1 Imports’s dividend payout ratio is 116.67%.
A number of equities analysts have recently weighed in on PIR shares. BTIG Research reissued a “sell” rating and issued a $3.50 price objective on shares of Pier 1 Imports in a research report on Thursday, September 22nd. Wedbush reaffirmed an “outperform” rating on shares of Pier 1 Imports in a research report on Wednesday, September 28th. Zacks Investment Research raised shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research report on Wednesday, August 31st. Jefferies Group reaffirmed a “hold” rating and set a $4.50 price target (up previously from $4.25) on shares of Pier 1 Imports in a research report on Thursday, September 29th. Finally, Bank of America Corp. reaffirmed a “sell” rating on shares of Pier 1 Imports in a research report on Thursday, June 30th. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. Pier 1 Imports has an average rating of “Hold” and a consensus price target of $6.30.
Pier 1 Imports Company Profile
Pier 1 Imports, Inc is an importer of home decor and furniture. The Company’s operations consist of retail stores and an e-commerce Website conducting business under the name Pier 1 Imports, which sells a range of decorative accessories, furniture, candles, housewares, gifts and seasonal products. The Company’s categories of merchandise include decorative accessories and furniture.
Want to see what other hedge funds are holding PIR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pier 1 Imports Inc. (NYSE:PIR).
Receive News & Ratings for Pier 1 Imports Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pier 1 Imports Inc. and related companies with MarketBeat.com's FREE daily email newsletter.