Bob's Discount Furniture, Inc. $BOBS Stock: Beaumont Financial Advisors LLC Trims Position

Key Points

• Beaumont Financial Advisors cut its Bob’s Discount Furniture position by 87.9% in the third quarter, selling 164,602 shares and retaining 22,638 shares valued at approximately $314,000.
• Several institutional investors established new positions in the company during the second quarter, including Alyeska Investment Group with an investment of roughly $16.6 million.
• BOBS shares opened at $16.19, while analysts maintain a “Moderate Buy” consensus with an average price target of $23.83. The company matched quarterly earnings expectations at $0.20 per share on revenue of $619.57 million.

Beaumont Financial Advisors LLC lessened its position in Bob's Discount Furniture, Inc. (NYSE:BOBS - Free Report) by 87.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,638 shares of the company's stock after selling 164,602 shares during the quarter. Beaumont Financial Advisors LLC's holdings in Bob's Discount Furniture were worth $314,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BOBS. Alyeska Investment Group L.P. purchased a new position in Bob's Discount Furniture during the 2nd quarter worth approximately $16,599,000. State Street Corp acquired a new position in Bob's Discount Furniture during the second quarter valued at $4,683,000. HBK Investments L P acquired a new position in Bob's Discount Furniture during the second quarter valued at $3,955,000. Bank of New York Mellon Corp purchased a new stake in Bob's Discount Furniture in the 2nd quarter worth about $700,000. Finally, Penn Capital Management Company LLC purchased a new stake in Bob's Discount Furniture in the 2nd quarter worth about $423,000.

Bob's Discount Furniture Stock Performance

Shares of BOBS stock opened at $16.19 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.28. Bob's Discount Furniture, Inc. has a fifty-two week low of $9.73 and a fifty-two week high of $23.49. The stock's 50-day moving average is $15.61 and its two-hundred day moving average is $14.57. The firm has a market cap of $2.12 billion and a P/E ratio of 25.30.

Bob's Discount Furniture (NYSE:BOBS - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.20 earnings per share for the quarter, hitting analysts' consensus estimates of $0.20. The firm had revenue of $619.57 million for the quarter. Analysts predict that Bob's Discount Furniture, Inc. will post 0.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on BOBS. Robert W. Baird set a $19.00 price objective on Bob's Discount Furniture in a research report on Friday, August 7th. Royal Bank Of Canada increased their price target on shares of Bob's Discount Furniture from $19.00 to $22.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of Bob's Discount Furniture from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, August 17th. Finally, Evercore set a $18.00 price objective on shares of Bob's Discount Furniture in a research report on Tuesday, October 13th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Bob's Discount Furniture presently has an average rating of "Moderate Buy" and an average target price of $23.83.

Bob's Discount Furniture Profile

Bob's Discount Furniture is a U.S. furniture retailer that sells a broad selection of furniture and home furnishings at value-oriented prices. Its merchandise includes living room, bedroom, dining room and home office furniture, as well as mattresses, rugs, lighting, décor and other household products.

The company was founded in 1991 by Robert “Bob” Kaufman in Newington, Connecticut. Bob's operates an omnichannel retail model that combines a network of showrooms with online shopping and related delivery and service capabilities.

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