Emerald Acquisition Ltd. Acquires Shares of 58,806 West Marine Inc. (WMAR)
Emerald Acquisition Ltd. acquired a new stake in West Marine Inc. (NASDAQ:WMAR) during the second quarter, Holdings Channel reports. The institutional investor acquired 58,806 shares of the company’s stock, valued at approximately $492,000. Emerald Acquisition Ltd. owned 0.24% of West Marine at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. increased its stake in shares of West Marine by 84.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 23,200 shares of the company’s stock valued at $211,000 after buying an additional 10,600 shares during the period. AXA increased its stake in West Marine by 118.6% in the first quarter. AXA now owns 26,910 shares of the company’s stock valued at $245,000 after buying an additional 14,600 shares during the last quarter. Bank of New York Mellon Corp increased its stake in West Marine by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 118,295 shares of the company’s stock valued at $993,000 after buying an additional 1,654 shares during the last quarter. Renaissance Technologies LLC increased its stake in West Marine by 36.6% in the first quarter. Renaissance Technologies LLC now owns 132,526 shares of the company’s stock valued at $1,205,000 after buying an additional 35,526 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in West Marine by 3.6% in the first quarter. Geode Capital Management LLC now owns 102,941 shares of the company’s stock valued at $935,000 after buying an additional 3,590 shares during the last quarter. 61.41% of the stock is owned by institutional investors.
Shares of West Marine Inc. (NASDAQ:WMAR) traded down 0.896% during trading on Wednesday, reaching $8.295. The company’s stock had a trading volume of 9,600 shares. The firm has a market cap of $206.87 million, a P/E ratio of 32.787 and a beta of 1.38. The stock’s 50 day moving average is $8.79 and its 200 day moving average is $9.07. West Marine Inc. has a one year low of $7.70 and a one year high of $10.39.
West Marine (NASDAQ:WMAR) last issued its earnings results on Thursday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by $0.06. The business had revenue of $251.60 million for the quarter, compared to the consensus estimate of $254.39 million. West Marine had a net margin of 0.89% and a return on equity of 2.08%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the business posted $0.85 EPS. On average, equities analysts forecast that West Marine Inc. will post $0.24 EPS for the current fiscal year.
Several analysts recently issued reports on the stock. B. Riley downgraded shares of West Marine from a “buy” rating to a “neutral” rating and reduced their price target for the company from $12.00 to $10.00 in a research report on Tuesday, June 21st. Zacks Investment Research raised shares of West Marine from a “sell” rating to a “hold” rating in a research report on Wednesday, August 24th. Finally, Forward View reissued a “hold” rating on shares of West Marine in a research report on Friday, July 22nd.
West Marine Company Profile
West Marine, Inc is a waterlife outfitter for cruisers, sailors, anglers and paddlesports enthusiasts. The Company offers a selection of core boating and water recreation products, primarily serving the needs of boat owners and professionals providing services to them. It services its customers through physical stores and two e-commerce Websites.
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