Clinton Group Inc. Has $453,000 Holdings in Blue Buffalo Pet Products, Inc. (BUFF)

Clinton Group Inc. reduced its position in shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 79.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,870 shares of the company’s stock after selling 76,781 shares during the period. Clinton Group Inc.’s holdings in Blue Buffalo Pet Products were worth $453,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Harris Associates L P acquired a new stake in shares of Blue Buffalo Pet Products during the 2nd quarter worth about $53,476,000. Tudor Investment Corp ET AL boosted its stake in shares of Blue Buffalo Pet Products by 275.3% during the 2nd quarter. Tudor Investment Corp ET AL now owns 33,642 shares of the company’s stock worth $767,000 after purchasing an additional 24,677 shares during the last quarter. PDT Partners LLC acquired a new stake in shares of Blue Buffalo Pet Products during the 2nd quarter worth about $9,941,000. Numeric Investors LLC boosted its stake in shares of Blue Buffalo Pet Products by 19.8% during the 2nd quarter. Numeric Investors LLC now owns 127,440 shares of the company’s stock worth $2,907,000 after purchasing an additional 21,040 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Blue Buffalo Pet Products by 23.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 973,046 shares of the company’s stock worth $22,195,000 after purchasing an additional 186,947 shares during the last quarter. 88.74% of the stock is currently owned by institutional investors.

Blue Buffalo Pet Products, Inc. (BUFF) opened at 29.02 on Friday. The company has a 50-day moving average of $27.39 and a 200 day moving average of $27.39. Blue Buffalo Pet Products, Inc. has a 12-month low of $21.60 and a 12-month high of $29.44. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 40.87 and a beta of 1.94.

Blue Buffalo Pet Products (NASDAQ:BUFF) last posted its earnings results on Tuesday, August 8th. The company reported $0.21 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.21. Blue Buffalo Pet Products had a return on equity of 98.02% and a net margin of 12.13%. The firm had revenue of $294.80 million during the quarter, compared to analyst estimates of $301.88 million. During the same period in the previous year, the company earned $0.19 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts anticipate that Blue Buffalo Pet Products, Inc. will post $0.92 earnings per share for the current year.

Blue Buffalo Pet Products announced that its board has authorized a stock buyback program on Tuesday, August 8th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 1.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Several equities research analysts recently issued reports on the stock. TheStreet raised shares of Blue Buffalo Pet Products from a “c” rating to a “b-” rating in a research report on Friday, August 11th. Susquehanna Bancshares Inc reissued a “buy” rating and issued a $30.00 target price (down from $32.00) on shares of Blue Buffalo Pet Products in a research report on Monday, August 7th. Barclays PLC reissued a “buy” rating and issued a $27.00 target price on shares of Blue Buffalo Pet Products in a research report on Friday, August 11th. Gabelli assumed coverage on shares of Blue Buffalo Pet Products in a research report on Wednesday, September 6th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $32.00 target price (up from $25.00) on shares of Blue Buffalo Pet Products in a research report on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $29.00.

In related news, CFO Michael Nathenson sold 37,072 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $25.58, for a total value of $948,301.76. Following the completion of the sale, the chief financial officer now directly owns 37,072 shares in the company, valued at approximately $948,301.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 187,072 shares of company stock valued at $4,736,802. Corporate insiders own 7.70% of the company’s stock.

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Blue Buffalo Pet Products Company Profile

Blue Buffalo Pet Products, Inc (BBPP) is a holding company. The Company operates as a pet food company. The Company, through its subsidiaries, develops, produces, markets and sells pet food under product lines, including BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Natural Veterinary Diet lines.

Institutional Ownership by Quarter for Blue Buffalo Pet Products (NASDAQ:BUFF)

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