Insider Buying: Barnes & Noble, Inc. (BKS) Chairman Purchases 1,000,000 Shares of Stock

Barnes & Noble, Inc. (NYSE:BKS) Chairman Leonard Riggio acquired 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was purchased at an average price of $6.80 per share, with a total value of $6,800,000.00. Following the completion of the acquisition, the chairman now owns 8,594,491 shares in the company, valued at $58,442,538.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Barnes & Noble, Inc. (NYSE BKS) traded down $0.20 during midday trading on Monday, reaching $6.70. 5,322,100 shares of the company were exchanged, compared to its average volume of 1,087,010. Barnes & Noble, Inc. has a 52 week low of $6.25 and a 52 week high of $13.20. The stock has a market cap of $487.67, a price-to-earnings ratio of 31.91, a P/E/G ratio of 1.31 and a beta of 2.56. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.18 and a current ratio of 1.11.

Barnes & Noble (NYSE:BKS) last announced its earnings results on Thursday, November 30th. The specialty retailer reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.15). The company had revenue of $791.12 million for the quarter, compared to analysts’ expectations of $812.20 million. Barnes & Noble had a net margin of 0.42% and a return on equity of 2.86%. Barnes & Noble’s quarterly revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.29) earnings per share. equities research analysts predict that Barnes & Noble, Inc. will post 0.51 earnings per share for the current year.

A number of equities analysts recently weighed in on BKS shares. Zacks Investment Research lowered shares of Barnes & Noble from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Craig Hallum lowered shares of Barnes & Noble from a “buy” rating to a “hold” rating in a report on Friday.

Institutional investors and hedge funds have recently made changes to their positions in the business. FNY Partners Fund LP purchased a new stake in Barnes & Noble during the 3rd quarter valued at $102,000. Petrus Trust Company LTA raised its stake in Barnes & Noble by 70.0% during the 2nd quarter. Petrus Trust Company LTA now owns 22,086 shares of the specialty retailer’s stock valued at $168,000 after buying an additional 9,097 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Barnes & Noble during the 3rd quarter valued at $171,000. Campbell & CO Investment Adviser LLC raised its stake in Barnes & Noble by 76.1% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 23,507 shares of the specialty retailer’s stock valued at $179,000 after buying an additional 10,158 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Barnes & Noble by 15.6% during the 1st quarter. JPMorgan Chase & Co. now owns 23,581 shares of the specialty retailer’s stock valued at $218,000 after buying an additional 3,191 shares during the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

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Barnes & Noble Company Profile

Barnes & Noble, Inc is a bookseller. The Company is a content and commerce company, which provides access to trade books and other content across its multi-channel distribution platform. It operates in two segments: Barnes & Noble Retail (B&N Retail) and NOOK. The Company is engaged in the sale of trade books (generally hardcover and paperback consumer titles), mass market paperbacks (such as mystery, romance, science fiction and other fiction), children’s books, eBooks and other digital content, textbooks and course-related materials, NOOK and related accessories, bargain books, magazines, gifts, cafe products and services, educational toys and games, music and movies direct to customers through its bookstores or on www.barnesandnoble.com.

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