Dimensional Fund Advisors LP Raises Position in Barnes & Noble Education Inc. (BNED)
Dimensional Fund Advisors LP boosted its position in shares of Barnes & Noble Education Inc. (NYSE:BNED) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,890,408 shares of the company’s stock after buying an additional 32,818 shares during the period. Dimensional Fund Advisors LP owned approximately 8.40% of Barnes & Noble Education worth $39,487,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Barnes & Noble Education during the second quarter valued at $1,015,000. Emerald Acquisition Ltd. bought a new position in shares of Barnes & Noble Education during the second quarter worth approximately $154,000. California State Teachers Retirement System increased its position in shares of Barnes & Noble Education by 23.8% in the second quarter. California State Teachers Retirement System now owns 84,028 shares of the company’s stock worth $853,000 after buying an additional 16,131 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Barnes & Noble Education by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 420,823 shares of the company’s stock worth $4,272,000 after buying an additional 18,682 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in shares of Barnes & Noble Education by 86.4% in the second quarter. BNP Paribas Arbitrage SA now owns 12,362 shares of the company’s stock worth $125,000 after buying an additional 5,729 shares during the last quarter. 66.66% of the stock is currently owned by institutional investors and hedge funds.
Shares of Barnes & Noble Education Inc. (NYSE:BNED) opened at 9.35 on Tuesday. Barnes & Noble Education Inc. has a 1-year low of $8.15 and a 1-year high of $15.49. The firm’s 50-day moving average price is $10.05 and its 200 day moving average price is $10.20. The stock’s market capitalization is $430.77 million.
Barnes & Noble Education (NYSE:BNED) last announced its earnings results on Thursday, September 8th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.58) by $0.02. The business had revenue of $239.20 million for the quarter, compared to analyst estimates of $245.58 million. Barnes & Noble Education had a negative net margin of 0.05% and a positive return on equity of 2.22%. The firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.65) earnings per share. Analysts expect that Barnes & Noble Education Inc. will post $0.44 EPS for the current fiscal year.
A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Barnes & Noble Education from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Monday. BWS Financial started coverage on Barnes & Noble Education in a research note on Tuesday, October 11th. They issued a “strong-buy” rating and a $14.00 price objective for the company.
About Barnes & Noble Education
Barnes & Noble Education, Inc is a contract operator of bookstores on college and university campuses across the United States and a provider of digital education services. The Company offers a support system, and a retail and digital learning experience for students. Through its subsidiary, Barnes & Noble College Booksellers, LLC, the Company operates approximately 750 campus bookstores and the school-branded e-commerce sites for each store, serving over five million college students and their faculty.
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