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Main » Barnes & Noble, Inc. (BKS) Shares Surge as Investor Pushes for Sale

Barnes & Noble, Inc. (BKS) Shares Surge as Investor Pushes for Sale

26 July 2017

As of quarter end Goldman Sachs Group Inc had disposed of a total of 1,453 shares trimming its stake by 1.2%. Nisa Investment Advisors, LLC claims 1,050 shares with a value of $11,000. Thompson Siegel & Walmsley LLC grew its ownership by buying 328,873 shares an increase of 13.6% as of 03/31/2017. Public Employees Retirement System of OH now owns 13,215 shares of the specialty retailer's stock valued at $127,000 after buying an additional 3,675 shares during the period.

Sidoti & Co. starting coverage on the stock with an initial rating of "Hold". The stock had previously closed at $8.89. Comerica Bank now owns 40,885 shares of the specialty retailer's stock valued at $458,000 after buying an additional 2,278 shares in the last quarter.

The investor - which has a "meaningful ownership stake" on the company - said that it believes it is a hard time for retail stocks as the stock's price does not accurately reflect the value of the bookseller if it remains a stand-alone company. Craig Hallum initiated it with "Buy" rating and $25 target in Monday, July 27 report. Though Sandell has declined to disclose the size of its investment, it would fall below the 5 percent threshold required by the Securities and Exchange Commission to file a 13D, making the investment less than $26 million. BidaskClub cut shares of Barnes & Noble Education from a "buy" rating to a "hold" rating in a report on Tuesday, July 11th.

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It is now trading at $7.10 which is just a bit below the 50 day moving average which is $7.16 and which is a tad under the 200 day moving average of $8.68.

Today's rally has BKS trading north of their 80-day moving average for the first time in six months, a trendline that kept a lid on the shares in January. The stock has a market cap of $334.45 million, a PE ratio of 65.36 and a beta of 1.02. On average, equities research analysts anticipate that Barnes & Noble Education, Inc will post $0.31 earnings per share for the current year. During the same quarter in the previous year, the company posted $0.07 EPS. "What makes the under-valuation of Barnes & Noble all the more shocking is that, as opposed to the numerous other national apparel, footwear, grocery and home furnishing chains abounding in this country, there is but one truly national bookstore chain". The Company is a content and commerce company, which provides access to trade books and other content across its multi-channel distribution platform. However, the investor does not believe Barnes & Noble can continue to operate effectively as a stand-alone public company. The Company offers its customers a suite of textbook options-new, used, digital and rental.

Barnes & Noble, Inc. (BKS) Shares Surge as Investor Pushes for Sale