Barnes & Noble Education Inc (BNED) Major Shareholder Abrams Capital Management, L.P Sells 354,451 Shares of Stock

Barnes & Noble Education Inc (NYSE:BNED) major shareholder Abrams Capital Management, L.P sold 354,451 shares of Barnes & Noble Education stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $8.45, for a total value of $2,995,110.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Abrams Capital Management, L.P also recently made the following trade(s):

  • On Thursday, December 28th, Abrams Capital Management, L.P sold 129,665 shares of Barnes & Noble Education stock. The shares were sold at an average price of $8.51, for a total value of $1,103,449.15.
  • On Monday, December 18th, Abrams Capital Management, L.P sold 239,742 shares of Barnes & Noble Education stock. The shares were sold at an average price of $8.41, for a total value of $2,016,230.22.
  • On Wednesday, December 13th, Abrams Capital Management, L.P sold 721,236 shares of Barnes & Noble Education stock. The shares were sold at an average price of $8.23, for a total value of $5,935,772.28.
  • On Thursday, December 7th, Abrams Capital Management, L.P sold 1,039,022 shares of Barnes & Noble Education stock. The shares were sold at an average price of $7.82, for a total value of $8,125,152.04.

Shares of Barnes & Noble Education Inc (BNED) traded down $0.13 during midday trading on Thursday, hitting $8.09. The stock had a trading volume of 53,362 shares, compared to its average volume of 671,150. Barnes & Noble Education Inc has a twelve month low of $4.99 and a twelve month high of $12.25. The stock has a market capitalization of $397.83, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 0.85 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.41 and a current ratio of 1.21.

Barnes & Noble Education (NYSE:BNED) last announced its earnings results on Tuesday, December 5th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.12. Barnes & Noble Education had a return on equity of 2.52% and a net margin of 0.84%. The business had revenue of $886.90 million for the quarter, compared to analyst estimates of $868.17 million. During the same period in the previous year, the company earned $0.64 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. research analysts expect that Barnes & Noble Education Inc will post 0.5 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. 683 Capital Management LLC bought a new stake in Barnes & Noble Education in the third quarter valued at about $3,398,000. Moors & Cabot Inc. acquired a new position in Barnes & Noble Education in the third quarter valued at approximately $298,000. California Public Employees Retirement System boosted its stake in Barnes & Noble Education by 23.7% in the third quarter. California Public Employees Retirement System now owns 231,332 shares of the specialty retailer’s stock valued at $1,506,000 after acquiring an additional 44,287 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Barnes & Noble Education in the third quarter valued at approximately $126,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in Barnes & Noble Education by 24.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 666,052 shares of the specialty retailer’s stock valued at $4,336,000 after acquiring an additional 131,962 shares during the period. 67.07% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have commented on BNED shares. Zacks Investment Research cut Barnes & Noble Education from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 31st. BidaskClub cut Barnes & Noble Education from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 12th. Finally, ValuEngine upgraded Barnes & Noble Education from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.92.

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About Barnes & Noble Education

Barnes & Noble Education, Inc is a contract operator of bookstores on college and university campuses across the United States and a provider of digital education services. The Company offers a support system, and a retail and digital learning experience for students. Through its subsidiary, Barnes & Noble College Booksellers, LLC, the Company operates approximately 750 campus bookstores and the school-branded e-commerce sites for each store, serving over five million college students and their faculty.

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