HBK Investments L P Purchases Shares of 250,000 Bob's Discount Furniture, Inc. $BOBS

Key Points

• HBK Investments L.P. purchased 250,000 shares of Bob’s Discount Furniture in the second quarter, valued at approximately $3.96 million and representing about 0.19% of the company.
• Analysts remain broadly positive, with 11 Buy ratings and four Holds; the stock has a “Moderate Buy” consensus rating and an average price target of $24.00.
• Bob’s shares recently traded at $14.66, while the company reported quarterly EPS of $0.20 on $619.57 million in revenue, matching earnings expectations.

HBK Investments L P purchased a new position in Bob's Discount Furniture, Inc. (NYSE:BOBS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 250,000 shares of the company's stock, valued at approximately $3,955,000. HBK Investments L P owned approximately 0.19% of Bob's Discount Furniture as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Alyeska Investment Group L.P. acquired a new position in shares of Bob's Discount Furniture during the second quarter valued at about $16,599,000. Bank of New York Mellon Corp acquired a new stake in Bob's Discount Furniture in the 2nd quarter worth approximately $700,000. Readystate Asset Management LP purchased a new stake in Bob's Discount Furniture during the 2nd quarter worth approximately $237,000. Finally, Penn Capital Management Company LLC acquired a new position in Bob's Discount Furniture during the 2nd quarter valued at approximately $423,000.

Analysts Set New Price Targets

BOBS has been the subject of several research reports. Robert W. Baird set a $19.00 price objective on shares of Bob's Discount Furniture in a research note on Friday, August 7th. Weiss Ratings raised Bob's Discount Furniture from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, August 17th. Evercore restated an "outperform" rating and issued a $20.00 target price on shares of Bob's Discount Furniture in a research note on Friday, August 7th. Finally, Royal Bank Of Canada lifted their price target on 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. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bob's Discount Furniture presently has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Bob's Discount Furniture Stock Performance

NYSE BOBS traded up $0.10 on Wednesday, reaching $14.66. 877,577 shares of the company's stock traded hands, compared to its average volume of 1,087,347. The firm has a market cap of $1.92 billion and a price-to-earnings ratio of 22.91. The stock has a 50 day moving average price of $16.90 and a 200-day moving average price of $14.67. Bob's Discount Furniture, Inc. has a fifty-two week low of $9.73 and a fifty-two week high of $23.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.28 and a current ratio of 0.90.

Bob's Discount Furniture (NYSE:BOBS - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20. The business had revenue of $619.57 million during the quarter. Equities research analysts predict that Bob's Discount Furniture, Inc. will post 0.93 EPS for the current fiscal year.

Bob's Discount Furniture Profile

Bob's Discount Furniture NYSE: BOBS is a furniture retailer that sells a broad selection of home furnishings through its retail stores and e-commerce platform. Its product offerings include living room, bedroom, dining room and home office furniture, as well as mattresses, rugs, lighting, home accessories and other household products.

The company was founded in 1991 by Bob Kaufman in Newington, Connecticut, with a focus on offering furniture at value-oriented prices. Bob's has since expanded beyond its New England roots and serves customers primarily across the eastern United States through a network of retail locations, delivery operations and online shopping services.

Bob's Discount Furniture also provides services such as furniture delivery, assembly and mattress-related support.

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