Insider Selling: Barnes & Noble Education Inc (BNED) Major Shareholder 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 that occurred on Wednesday, January 3rd. The stock was sold at an average price of $8.45, for a total transaction of $2,995,110.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares 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 stock was sold at an average price of $8.51, for a total transaction of $1,103,449.15.
  • On Monday, December 18th, Abrams Capital Management, L.P sold 239,742 shares of Barnes & Noble Education stock. The stock was sold at an average price of $8.41, for a total transaction of $2,016,230.22.
  • On Wednesday, December 13th, Abrams Capital Management, L.P sold 721,236 shares of Barnes & Noble Education stock. The stock was sold at an average price of $8.23, for a total transaction 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 stock was sold at an average price of $7.82, for a total transaction of $8,125,152.04.

Shares of Barnes & Noble Education Inc (NYSE BNED) traded down $0.26 on Wednesday, reaching $8.22. 445,265 shares of the company’s stock were exchanged, compared to its average volume of 671,150. 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 Inc has a 1 year low of $4.99 and a 1 year high of $12.25. The company has a market capitalization of $386.57, a price-to-earnings ratio of 22.83, a P/E/G ratio of 0.82 and a beta of 1.10.

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

Several equities research analysts have recently commented on BNED shares. Zacks Investment Research upgraded shares of Barnes & Noble Education from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 8th. ValuEngine upgraded shares of Barnes & Noble Education from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Finally, BidaskClub upgraded shares of Barnes & Noble Education from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 27th. 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. The company has a consensus rating of “Hold” and an average price target of $10.92.

A number of institutional investors and hedge funds have recently made changes to their positions in BNED. Aperio Group LLC lifted its position in shares of Barnes & Noble Education by 1.3% in the second quarter. Aperio Group LLC now owns 12,020 shares of the specialty retailer’s stock worth $128,000 after purchasing an additional 154 shares in the last quarter. Citigroup Inc. lifted its position in shares of Barnes & Noble Education by 1.3% in the second quarter. Citigroup Inc. now owns 44,055 shares of the specialty retailer’s stock worth $469,000 after purchasing an additional 560 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Barnes & Noble Education by 4.6% in the second quarter. Public Employees Retirement System of Ohio now owns 13,817 shares of the specialty retailer’s stock worth $147,000 after purchasing an additional 602 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Barnes & Noble Education by 1.5% in the second quarter. GSA Capital Partners LLP now owns 59,282 shares of the specialty retailer’s stock worth $630,000 after purchasing an additional 882 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Barnes & Noble Education by 21.3% in the second quarter. Russell Investments Group Ltd. now owns 11,296 shares of the specialty retailer’s stock worth $120,000 after purchasing an additional 1,980 shares in the last quarter. 67.07% of the stock is currently owned by hedge funds and other institutional investors.

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Barnes & Noble Education Company Profile

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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