Barnes & Noble Education, Inc $BNED Shares Purchased by Immersion Corp

Key Points

• Immersion Corp increased its position in Barnes & Noble Education, Inc by 1.8% in the first quarter, owning over 11 million shares valued at around $117.69 million, making it the largest holding in its investment portfolio.
• Other institutional investors have also ramped up their stakes, with significant increases from Greenhaven Road Investment Management L.P. and CenterBook Partners LP during the same period.
• Wall Street analysts have downgraded Barnes & Noble Education from a "hold" rating to a "sell" rating, indicating a bearish outlook on the stock following recent performance metrics.

Immersion Corp raised its position in Barnes & Noble Education, Inc (NYSE:BNED - Free Report) by 1.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 11,208,746 shares of the specialty retailer's stock after purchasing an additional 202,044 shares during the period. Barnes & Noble Education accounts for approximately 72.3% of Immersion Corp's portfolio, making the stock its largest position. Immersion Corp owned 32.91% of Barnes & Noble Education worth $117,692,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cloud Capital Management LLC bought a new position in shares of Barnes & Noble Education in the first quarter valued at approximately $60,000. Bank of America Corp DE boosted its holdings in Barnes & Noble Education by 1,412.1% in the fourth quarter. Bank of America Corp DE now owns 6,139 shares of the specialty retailer's stock valued at $62,000 after acquiring an additional 5,733 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Barnes & Noble Education during the 1st quarter valued at $94,000. Tower Research Capital LLC TRC boosted its stake in Barnes & Noble Education by 362.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,328 shares of the specialty retailer's stock worth $94,000 after purchasing an additional 7,310 shares in the last quarter. Finally, Caption Management LLC increased its position in shares of Barnes & Noble Education by 363.2% during the 1st quarter. Caption Management LLC now owns 10,723 shares of the specialty retailer's stock valued at $113,000 after purchasing an additional 8,408 shares during the last quarter. Hedge funds and other institutional investors own 38.51% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Barnes & Noble Education from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st.

Barnes & Noble Education Trading Down 5.1%

NYSE:BNED traded down $0.45 during trading hours on Wednesday, hitting $8.34. The company had a trading volume of 315,724 shares, compared to its average volume of 291,686. Barnes & Noble Education, Inc has a 1 year low of $7.90 and a 1 year high of $14.40. The company has a 50-day moving average of $9.64 and a 200 day moving average of $10.08. The company has a market cap of $284.05 million, a P/E ratio of -0.54 and a beta of 1.69. The company has a current ratio of 1.42, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50.

Barnes & Noble Education Company Profile

Barnes and Noble Education, Inc engages in the management and operation of bookstore chains in universities. It operates through the Retail and Wholesale segments. The Retail segment operates college, university, and K-12 school bookstores, physical bookstores, and virtual bookstores. The Wholesale segment sells and distributes new and used textbooks to physical bookstores.