William Blair Investment Management LLC Makes New $33.16 Million Investment in Bob's Discount Furniture, Inc. $BOBS

Key Points

• William Blair Investment Management acquired 2.39 million Bob’s Discount Furniture shares in the third quarter, valued at about $33.2 million and representing roughly 1.83% of the company.
• Analysts give the stock a consensus “Moderate Buy” rating, with an average price target of $23.67; 11 analysts rate it Buy and four rate it Hold.
• Quarterly earnings matched expectations at $0.28 per share, while revenue rose 10.3% year over year to $680.44 million.

William Blair Investment Management LLC acquired a new stake in shares of Bob's Discount Furniture, Inc. (NYSE:BOBS - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,392,830 shares of the company's stock, valued at approximately $33,165,000. William Blair Investment Management LLC owned approximately 1.83% of Bob's Discount Furniture as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. State of Alaska Department of Revenue purchased a new stake in shares of Bob's Discount Furniture during the third quarter worth about $93,000. Readystate Asset Management LP purchased a new position in Bob's Discount Furniture in the 2nd quarter valued at about $237,000. Penn Capital Management Company LLC acquired a new stake in Bob's Discount Furniture in the 2nd quarter worth about $423,000. Bank of New York Mellon Corp acquired a new stake in Bob's Discount Furniture in the 2nd quarter worth about $700,000. Finally, Russell Investments Group Ltd. increased its stake in Bob's Discount Furniture by 4,192.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 67,343 shares of the company's stock worth $933,000 after buying an additional 65,774 shares in the last quarter.

Analysts Set New Price Targets

BOBS has been the subject of a number of research analyst reports. Weiss Ratings raised Bob's Discount Furniture from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, August 17th. Royal Bank Of Canada lowered their price target on Bob's Discount Furniture from $22.00 to $21.00 and set an "outperform" rating on the stock in a research note on Friday, November 6th. Robert W. Baird set a $19.00 price target on Bob's Discount Furniture in a research report on Friday, August 7th. JPMorgan Chase & Co. increased their price objective on Bob's Discount Furniture from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, November 6th. Finally, Evercore set a $18.00 price objective on Bob's Discount Furniture in a research note 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. Based on data from MarketBeat.com, Bob's Discount Furniture currently has a consensus rating of "Moderate Buy" and an average target price of $23.67.

Bob's Discount Furniture Price Performance

BOBS traded down $0.12 on Friday, reaching $20.52. 707,929 shares of the company's stock were exchanged, compared to its average volume of 1,165,987. Bob's Discount Furniture, Inc. has a twelve month low of $9.73 and a twelve month high of $23.49. The stock has a market cap of $2.68 billion and a PE ratio of 18.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.28. The stock's fifty day moving average price is $15.92 and its 200-day moving average price is $15.21.

Bob's Discount Furniture (NYSE:BOBS - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.28 EPS for the quarter, meeting analysts' consensus estimates of $0.28. The company had revenue of $680.44 million during the quarter. Bob's Discount Furniture had a net margin of 5.66% and a return on equity of 26.85%. The firm's revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 EPS. Sell-side analysts expect that Bob's Discount Furniture, Inc. will post 0.93 EPS for the current year.

Bob's Discount Furniture Profile

Bob's Discount Furniture is a U.S. home furnishings retailer offering value-priced furniture, mattresses and related products. Its merchandise includes items for living rooms, bedrooms, dining rooms and home offices, along with rugs, lighting and home décor. The company sells through retail stores and its e-commerce platform, serving customers across the United States. Its stores provide an in-person way to browse furniture and mattresses, while the online channel allows customers to shop its assortment remotely.

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