Barnes & Noble Target of Unusually Large Options Trading (BKS)

Barnes & Noble, Inc. (NYSE:BKS) was the target of some unusual options trading on Thursday. Stock traders purchased 2,292 call options on the company. This is an increase of approximately Infinity compared to the typical daily volume of 0 call options.

BKS has been the subject of several recent research reports. Zacks Investment Research cut Barnes & Noble from a “hold” rating to a “sell” rating in a research note on Thursday, September 14th. Craig Hallum cut Barnes & Noble from a “buy” rating to a “hold” rating in a research note on Friday.

Barnes & Noble (BKS) traded down $0.10 during midday trading on Monday, reaching $6.60. The company had a trading volume of 3,965,629 shares, compared to its average volume of 1,099,364. The firm has a market capitalization of $487.67, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 1.31 and a beta of 2.56. Barnes & Noble has a 1-year low of $6.25 and a 1-year high of $13.20. The company has a quick ratio of 0.18, a current ratio of 1.11 and a debt-to-equity ratio of 0.47.

Barnes & Noble (NYSE:BKS) last issued its quarterly earnings results on Thursday, November 30th. The specialty retailer reported ($0.41) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.15). Barnes & Noble had a return on equity of 2.86% and a net margin of 0.42%. The business had revenue of $791.12 million for the quarter, compared to analyst estimates of $812.20 million. During the same quarter in the previous year, the business posted ($0.29) earnings per share. The business’s revenue was down 7.9% on a year-over-year basis. sell-side analysts anticipate that Barnes & Noble will post 0.51 earnings per share for the current year.

In other Barnes & Noble news, VP Frederic Argir sold 21,148 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $6.90, for a total transaction of $145,921.20. Following the transaction, the vice president now owns 70,213 shares of the company’s stock, valued at $484,469.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Leonard Riggio bought 1,000,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was purchased at an average cost of $6.80 per share, for a total transaction of $6,800,000.00. Following the transaction, the chairman now directly owns 8,594,491 shares of the company’s stock, valued at approximately $58,442,538.80. The disclosure for this purchase can be found here. 19.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System lifted its position in Barnes & Noble by 21.3% in the 3rd quarter. California Public Employees Retirement System now owns 343,925 shares of the specialty retailer’s stock valued at $2,614,000 after acquiring an additional 60,425 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Barnes & Noble in the 3rd quarter valued at about $171,000. Cornerstone Capital Management Holdings LLC. lifted its position in shares of Barnes & Noble by 1,639.4% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 436,600 shares of the specialty retailer’s stock worth $3,317,000 after buying an additional 411,500 shares in the last quarter. Royce & Associates LP lifted its position in shares of Barnes & Noble by 6.0% during the 3rd quarter. Royce & Associates LP now owns 954,503 shares of the specialty retailer’s stock worth $7,254,000 after buying an additional 53,879 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Barnes & Noble by 472.6% during the 3rd quarter. KBC Group NV now owns 143,207 shares of the specialty retailer’s stock worth $1,088,000 after buying an additional 118,199 shares in the last quarter. 66.32% of the stock is currently owned by institutional investors and hedge funds.

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About Barnes & Noble

Barnes & Noble, Inc is a bookseller. The Company is a content and commerce company, which provides access to trade books and other content across its multi-channel distribution platform. It operates in two segments: Barnes & Noble Retail (B&N Retail) and NOOK. The Company is engaged in the sale of trade books (generally hardcover and paperback consumer titles), mass market paperbacks (such as mystery, romance, science fiction and other fiction), children’s books, eBooks and other digital content, textbooks and course-related materials, NOOK and related accessories, bargain books, magazines, gifts, cafe products and services, educational toys and games, music and movies direct to customers through its bookstores or on www.barnesandnoble.com.

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