Barnes & Noble Education (NYSE:BNED) Stock Price Crosses Below 50-Day Moving Average – Here’s Why

Barnes & Noble Education, Inc (NYSE:BNED)’s share price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8.97 and traded as low as $8.86. Barnes & Noble Education shares last traded at $9.14, with a volume of 251,857 shares.

Barnes & Noble Education Stock Performance

The stock’s 50-day moving average price is $8.97 and its 200-day moving average price is $9.95. The company has a current ratio of 1.42, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $311.22 million, a P/E ratio of -0.59 and a beta of 1.69.

Hedge Funds Weigh In On Barnes & Noble Education

Large investors have recently made changes to their positions in the business. Kanen Wealth Management LLC boosted its holdings in shares of Barnes & Noble Education by 30.6% in the first quarter. Kanen Wealth Management LLC now owns 3,090,043 shares of the specialty retailer’s stock worth $32,445,000 after buying an additional 724,683 shares during the period. Greenhaven Road Investment Management L.P. raised its position in shares of Barnes & Noble Education by 105.6% in the first quarter. Greenhaven Road Investment Management L.P. now owns 1,069,162 shares of the specialty retailer’s stock valued at $11,226,000 after purchasing an additional 549,265 shares during the period. JPMorgan Chase & Co. increased its position in Barnes & Noble Education by 323.8% during the second quarter. JPMorgan Chase & Co. now owns 516,521 shares of the specialty retailer’s stock worth $6,079,000 after acquiring an additional 394,630 shares during the period. Geode Capital Management LLC increased its position in Barnes & Noble Education by 123.2% during the second quarter. Geode Capital Management LLC now owns 402,109 shares of the specialty retailer’s stock worth $4,734,000 after acquiring an additional 221,936 shares during the period. Finally, CenterBook Partners LP increased its position in Barnes & Noble Education by 143.0% during the first quarter. CenterBook Partners LP now owns 345,877 shares of the specialty retailer’s stock worth $3,632,000 after acquiring an additional 203,523 shares during the period. Institutional investors own 38.51% of the company’s stock.

About Barnes & Noble Education

Barnes and Noble Education, Inc engages in the management and operation of bookstore chains in universities. It operates through the Retail and Wholesale segments. The Retail segment operates college, university, and K-12 school bookstores, physical bookstores, and virtual bookstores. The Wholesale segment sells and distributes new and used textbooks to physical bookstores.