Barnes & Noble Education Inc (NYSE:BNED) Sees Large Decline in Short Interest

Barnes & Noble Education Inc (NYSE:BNED) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 4,680,000 shares, a drop of 8.2% from the September 30th total of 5,100,000 shares. Approximately 17.1% of the shares of the stock are sold short. Based on an average daily volume of 497,800 shares, the short-interest ratio is presently 9.4 days.

In other news, major shareholder Master Fund Lp Outerbridge acquired 1,073,216 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were bought at an average price of $3.21 per share, with a total value of $3,445,023.36. Also, EVP Kanuj Malhotra sold 21,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $4.48, for a total value of $94,080.00. In the last quarter, insiders bought 1,718,757 shares of company stock worth $5,440,044. Corporate insiders own 3.12% of the company’s stock.

Several institutional investors have recently made changes to their positions in BNED. Northern Trust Corp lifted its stake in shares of Barnes & Noble Education by 1.0% during the second quarter. Northern Trust Corp now owns 470,789 shares of the specialty retailer’s stock valued at $1,581,000 after acquiring an additional 4,552 shares during the period. Point72 Hong Kong Ltd lifted its holdings in Barnes & Noble Education by 132.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 8,299 shares of the specialty retailer’s stock worth $28,000 after buying an additional 4,733 shares during the period. Pacer Advisors Inc. lifted its holdings in Barnes & Noble Education by 14.8% during the 2nd quarter. Pacer Advisors Inc. now owns 56,414 shares of the specialty retailer’s stock worth $190,000 after buying an additional 7,288 shares during the period. Zebra Capital Management LLC lifted its holdings in Barnes & Noble Education by 18.7% during the 2nd quarter. Zebra Capital Management LLC now owns 65,416 shares of the specialty retailer’s stock worth $220,000 after buying an additional 10,302 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Barnes & Noble Education by 9.7% during the 3rd quarter. Rhumbline Advisers now owns 125,328 shares of the specialty retailer’s stock worth $391,000 after buying an additional 11,064 shares during the period. Institutional investors and hedge funds own 72.94% of the company’s stock.

Several equities research analysts recently weighed in on the company. ValuEngine raised Barnes & Noble Education from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Sidoti downgraded Barnes & Noble Education from a “buy” rating to a “neutral” rating and set a $4.00 price objective on the stock. in a report on Tuesday, September 17th.

Shares of BNED opened at $4.65 on Monday. The company has a market capitalization of $208.04 million, a PE ratio of 6.24 and a beta of 1.78. Barnes & Noble Education has a 12 month low of $2.82 and a 12 month high of $7.78. The stock’s 50-day moving average price is $3.74 and its two-hundred day moving average price is $3.59. The company has a current ratio of 1.16, a quick ratio of 0.18 and a debt-to-equity ratio of 0.71.

Barnes & Noble Education (NYSE:BNED) last announced its earnings results on Tuesday, August 27th. The specialty retailer reported ($0.64) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.81) by $0.17. Barnes & Noble Education had a positive return on equity of 7.23% and a negative net margin of 0.89%. The firm had revenue of $319.70 million for the quarter, compared to the consensus estimate of $327.57 million. During the same period in the previous year, the business earned ($0.82) EPS. The business’s quarterly revenue was down 5.3% compared to the same quarter last year.

Barnes & Noble Education Company Profile

Barnes & Noble Education, Inc operates bookstores for college and university campuses, and K-12 institutions in the United States. It operates in three segments: Barnes & Noble College, MBS Textbook Exchange, and Digital Student Solutions. The Barnes & Noble College segment sells and rents course material; offers a suite of digital content, software, and services through its LoudCloud platform, as well as e-textbooks; and sells general merchandise, including collegiate and athletic apparel, other custom-branded school spirit products, technology, supplies, and convenience items.

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