AQR Capital Management LLC Raises Stake in Black Box Corporation (NASDAQ:BBOX)

AQR Capital Management LLC increased its position in Black Box Corporation (NASDAQ:BBOX) by 9.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 327,850 shares of the technology company’s stock after buying an additional 27,074 shares during the period. AQR Capital Management LLC owned 2.16% of Black Box Corporation worth $2,934,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. KCG Holdings Inc. bought a new position in shares of Black Box Corporation during the first quarter worth $114,000. State of Tennessee Treasury Department boosted its position in Black Box Corporation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 14,595 shares of the technology company’s stock valued at $131,000 after buying an additional 2,203 shares during the period. Wells Fargo & Company MN boosted its position in Black Box Corporation by 41.3% in the first quarter. Wells Fargo & Company MN now owns 15,991 shares of the technology company’s stock valued at $143,000 after buying an additional 4,671 shares during the period. Tudor Investment Corp Et Al acquired a new position in Black Box Corporation during the fourth quarter valued at $155,000. Finally, Comerica Bank boosted its position in Black Box Corporation by 2.8% in the first quarter. Comerica Bank now owns 16,461 shares of the technology company’s stock valued at $167,000 after buying an additional 450 shares during the period. 94.35% of the stock is currently owned by hedge funds and other institutional investors.

Black Box Corporation (NASDAQ:BBOX) remained flat at $3.35 during midday trading on Friday. The company had a trading volume of 252,115 shares. The firm’s 50-day moving average price is $7.30 and its 200-day moving average price is $8.57. The stock’s market capitalization is $50.71 million. Black Box Corporation has a 1-year low of $3.25 and a 1-year high of $17.05.

Black Box Corporation (NASDAQ:BBOX) last issued its quarterly earnings results on Thursday, August 10th. The technology company reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.01 by $0.34. Black Box Corporation had a negative net margin of 1.97% and a positive return on equity of 3.05%. The company had revenue of $191.60 million for the quarter, compared to analyst estimates of $207.63 million. During the same period last year, the company posted $0.13 earnings per share. The business’s revenue for the quarter was down 12.3% on a year-over-year basis. Equities research analysts anticipate that Black Box Corporation will post ($0.69) earnings per share for the current fiscal year.

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Separately, Sidoti upgraded Black Box Corporation from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a report on Tuesday, June 27th.

In related news, Director John S. Heller purchased 10,000 shares of Black Box Corporation stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average cost of $4.35 per share, with a total value of $43,500.00. Following the completion of the transaction, the director now owns 52,320 shares of the company’s stock, valued at approximately $227,592. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

About Black Box Corporation

Black Box Corporation is a technology solutions provider. The Company is engaged in designing, building, managing and securing the information technology (IT) infrastructure. Offerings under the Company’s Products platform include IT infrastructure, specialty networking, multimedia and keyboard/video/mouse (KVM) switching.

Institutional Ownership by Quarter for Black Box Corporation (NASDAQ:BBOX)

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