First Quadrant L P CA Reduces Stake in Plantronics Inc (PLT)
First Quadrant L P CA trimmed its stake in shares of Plantronics Inc (NYSE:PLT) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,010 shares of the technology company’s stock after selling 1,350 shares during the quarter. First Quadrant L P CA owned about 0.05% of Plantronics worth $662,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Plantronics during the 2nd quarter worth approximately $212,000. Tower Research Capital LLC TRC raised its position in shares of Plantronics by 95.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,615 shares of the technology company’s stock worth $218,000 after purchasing an additional 1,761 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Plantronics during the 3rd quarter worth approximately $230,000. Signition LP acquired a new stake in shares of Plantronics during the 3rd quarter worth approximately $245,000. Finally, Capital Fund Management S.A. acquired a new stake in shares of Plantronics during the 3rd quarter worth approximately $253,000. Institutional investors and hedge funds own 97.52% of the company’s stock.
In related news, insider Jeff Loebbaka sold 4,614 shares of the stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $45.02, for a total value of $207,722.28. Following the completion of the transaction, the insider now directly owns 36,186 shares of the company’s stock, valued at approximately $1,629,093.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.
Shares of PLT stock opened at $37.10 on Friday. Plantronics Inc has a 12-month low of $30.90 and a 12-month high of $82.28. The company has a market capitalization of $1.40 billion, a P/E ratio of 13.69 and a beta of 1.32. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.57 and a quick ratio of 1.29.
Plantronics (NYSE:PLT) last issued its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($1.05). Plantronics had a positive return on equity of 20.46% and a negative net margin of 9.75%. The business had revenue of $483.07 million during the quarter, compared to the consensus estimate of $506.32 million. During the same period last year, the company earned $0.59 earnings per share. The business’s quarterly revenue was up 129.7% compared to the same quarter last year. Equities research analysts forecast that Plantronics Inc will post 1.87 EPS for the current fiscal year.
Plantronics declared that its Board of Directors has initiated a share repurchase program on Thursday, November 29th that allows the company to repurchase 1,000,000 shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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Plantronics Company Profile
Plantronics, Inc designs, manufactures, and markets lightweight communications headsets, telephone headset systems, other communication endpoints, and accessories for the business and consumer markets under the Plantronics brand worldwide. The company's enterprise products include headsets optimized for unified communications and collaboration, other corded and cordless communication headsets, audio processors, and telephone systems; and consumer products comprise Bluetooth and corded products for mobile device applications, personal computers, and gaming headsets.
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