Barnes & Noble Education (NYSE:BNED) CAO Sells $25,390.40 in Stock

Key Points

• Insider sale: CAO Gary Luster sold 2,267 BNED shares for $25,390.40 at an average price of $11.20, reducing his holdings by 7.1% to 29,667 shares.
• Operating results: Barnes & Noble Education reported quarterly revenue of $290.6 million and an EPS loss of $0.37, beating analysts’ expected loss of $0.48 but missing revenue estimates.
• Investor outlook: Shares recently traded at $11.36, while the company declared a quarterly dividend of $0.08 per share. Analysts have a consensus “Hold” rating and a $17.25 target price.

Barnes & Noble Education, Inc (NYSE:BNED - Get Free Report) CAO Gary Luster sold 2,267 shares of the business's stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $11.20, for a total transaction of $25,390.40. Following the transaction, the chief accounting officer owned 29,667 shares of the company's stock, valued at $332,270.40. This trade represents a 7.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Gary Luster also recently made the following trade(s):

• On Friday, July 10th, Gary Luster sold 1,066 shares of Barnes & Noble Education stock. The shares were sold at an average price of $11.61, for a total value of $12,376.26.

Barnes & Noble Education Stock Up 2.1%

Shares of NYSE:BNED traded up $0.23 on Friday, hitting $11.36. 138,764 shares of the company's stock were exchanged, compared to its average volume of 296,086. Barnes & Noble Education, Inc has a 1-year low of $5.90 and a 1-year high of $14.75. The company has a market capitalization of $393.85 million, a PE ratio of 17.75 and a beta of 1.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 1.66. The firm's 50-day moving average is $12.00 and its 200 day moving average is $10.93.

Barnes & Noble Education (NYSE:BNED - Get Free Report) last announced its quarterly earnings results on Tuesday, September 8th. The specialty retailer reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.11. Barnes & Noble Education had a net margin of 1.29% and a return on equity of 8.77%. The company had revenue of $290.60 million for the quarter, compared to analyst estimates of $306.66 million. Sell-side analysts predict that Barnes & Noble Education, Inc will post 0.79 EPS for the current year.

Barnes & Noble Education Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Wednesday, October 14th will be paid a dividend of $0.08 per share. The ex-dividend date is Wednesday, October 14th. This represents a $0.32 dividend on an annualized basis and a yield of 2.8%. Barnes & Noble Education's dividend payout ratio is currently 50.00%.

Wall Street Analysts Forecast Growth

BNED has been the subject of several recent research reports. Northland Securities set a $18.50 target price on shares of Barnes & Noble Education in a research note on Friday, June 26th. Zacks Research upgraded Barnes & Noble Education to a "hold" rating in a research report on Thursday, June 11th. Needham & Company LLC reaffirmed a "buy" rating and set a $16.00 price objective on shares of Barnes & Noble Education in a research report on Wednesday, September 9th. Wall Street Zen downgraded Barnes & Noble Education from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings raised Barnes & Noble Education from a "sell (e+)" rating to a "sell (d+)" rating in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $17.25.

Institutional Trading of Barnes & Noble Education

A number of institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its stake in Barnes & Noble Education by 119.6% in the first quarter. Bank of America Corp DE now owns 355,943 shares of the specialty retailer's stock valued at $3,143,000 after buying an additional 193,876 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Barnes & Noble Education in the second quarter valued at approximately $785,000. Bank of New York Mellon Corp acquired a new stake in shares of Barnes & Noble Education during the 2nd quarter worth about $510,000. Kanen Wealth Management LLC lifted its stake in shares of Barnes & Noble Education by 0.7% in the 1st quarter. Kanen Wealth Management LLC now owns 3,423,782 shares of the specialty retailer's stock valued at $30,232,000 after purchasing an additional 23,800 shares in the last quarter. Finally, AXQ Capital LP purchased a new stake in shares of Barnes & Noble Education during the fourth quarter valued at approximately $144,000. 38.51% of the stock is currently owned by hedge funds and other institutional investors.

Barnes & Noble Education Company Profile

Barnes & Noble Education, Inc NYSE: BNED is an education services company that supports colleges, universities and their students across the United States. Through institutional partnerships, the company provides retail, digital and operational solutions designed to support the delivery of course materials and campus-related products and services.

Its Barnes & Noble College business operates physical and online campus bookstores, offering new and used textbooks, textbook rentals, digital course materials, general merchandise, school apparel, supplies, technology products and convenience items.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.