Wedge Capital Management L L P NC Cuts Stock Holdings in Barnes & Noble Education Inc (NYSE:BNED)

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Wedge Capital Management L L P NC decreased its stake in shares of Barnes & Noble Education Inc (NYSE:BNED) by 18.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,955 shares of the specialty retailer’s stock after selling 14,639 shares during the period. Wedge Capital Management L L P NC’s holdings in Barnes & Noble Education were worth $215,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its position in shares of Barnes & Noble Education by 108.5% during the first quarter. BNP Paribas Arbitrage SA now owns 9,317 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 4,848 shares during the last quarter. SG Americas Securities LLC boosted its position in Barnes & Noble Education by 40.2% in the first quarter. SG Americas Securities LLC now owns 25,159 shares of the specialty retailer’s stock worth $106,000 after purchasing an additional 7,210 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Barnes & Noble Education by 570.2% in the first quarter. Meeder Asset Management Inc. now owns 18,410 shares of the specialty retailer’s stock worth $78,000 after purchasing an additional 15,663 shares during the last quarter. Globeflex Capital L P boosted its position in Barnes & Noble Education by 17.8% in the first quarter. Globeflex Capital L P now owns 108,183 shares of the specialty retailer’s stock worth $454,000 after purchasing an additional 16,322 shares during the last quarter. Finally, Creative Planning purchased a new position in Barnes & Noble Education in the second quarter worth $73,000. 70.50% of the stock is currently owned by institutional investors.

In other news, Chairman Michael Huseby purchased 25,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were purchased at an average price of $3.60 per share, with a total value of $90,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 3.12% of the stock is currently owned by insiders.

BNED stock traded down $0.01 during midday trading on Tuesday, hitting $3.28. The company’s stock had a trading volume of 3,637 shares, compared to its average volume of 368,530. The stock’s 50-day moving average price is $3.44 and its 200 day moving average price is $4.26. The company has a quick ratio of 0.42, a current ratio of 1.45 and a debt-to-equity ratio of 0.07. Barnes & Noble Education Inc has a 1 year low of $2.89 and a 1 year high of $7.78. The stock has a market cap of $156.40 million, a price-to-earnings ratio of 6.15 and a beta of 1.83.

Barnes & Noble Education (NYSE:BNED) last posted its quarterly earnings data on Tuesday, June 25th. The specialty retailer reported ($0.97) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.94). Barnes & Noble Education had a positive return on equity of 5.36% and a negative net margin of 1.20%. The business had revenue of $334.40 million during the quarter, compared to analysts’ expectations of $340.58 million. During the same period in the prior year, the firm posted $0.36 EPS. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis.

Several research analysts have weighed in on the company. ValuEngine raised Barnes & Noble Education from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 6th. Sidoti raised Barnes & Noble Education from a “neutral” rating to a “buy” rating and set a $4.00 price objective on the stock in a research report on Wednesday, June 26th. Finally, TheStreet cut Barnes & Noble Education from a “c-” rating to a “d” rating in a research report on Wednesday, June 26th.

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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Institutional Ownership by Quarter for Barnes & Noble Education (NYSE:BNED)

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