Barnes & Noble losses: Blame it on Harry Potter

  • Barnes & Noble losses: Blame it on Harry Potter

Barnes & Noble losses: Blame it on Harry Potter

Shares in bookseller Barnes & Noble tumbled almost 12 percent Thursday after the company reported a sharp drop in quarterly sales. About 2.63M shares traded or 147.26% up from the average. The stock has "Buy" rating by Cantor Fitzgerald on Wednesday, October 7.

Comparable sales fell 6% during the quarter to miss the consensus estimate for a 4.5% drop.

At the moment 3 analysts are watching Barnes & Noble, Inc.

Barnes & Noble posted revenue of $791.1 million in the period, less than the $811 million two analysts surveyed had expected. During the same period in the previous year, the business earned ($0.29) EPS. Quinn Opportunity Partners LLC now owns 238,965 shares of the specialty retailer's stock worth $1,816,000 after purchasing an additional 177,965 shares during the last quarter. (NYSE:BKS). Blackrock reported 0% in Barnes & Noble, Inc.

Several institutional investors have recently modified their holdings of BKS. JPMorgan Chase & Co. raised its position in shares of Barnes & Noble by 15.6% during the 1st quarter. The institutional investor owned 96,004 shares of the specialty retailer's stock after acquiring an additional 25,016 shares during the quarter. Hutchin Hill Capital Lp invested 0.05% in Barnes & Noble, Inc. GSA Capital Partners LLP now owns 70,428 shares of the specialty retailer's stock valued at $535,000 after buying an additional 37,628 shares during the period.

Barnes & Noble lost $30 million in the three months to October 28 compared with $20 million in the same period a year ago. ((NYSE:BKS)) shares ended at $6.9 with 3.48 mln shares exchanging hands. The New York-based Sandell Asset Management has invested 0.37% in the stock. The company's P/E (price to earnings) ratio is 19.55 and Forward P/E ratio of 12.32. The biggest holder now is Mr. Leonard Riggio who owns 7,594,591 shares (10.46% of those outstanding), whilst Mr. William J. Lynch, Jr holds 846,811 (1.17% of shares outstanding) and Ronald D. Boire holds 511,638 (0.70% of shares outstanding).

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Barnes & Noble (NYSE:BKS) 52-week high price stands at $13.20 and low price stands at $6.25, its price distance from 52-week high is -47.73% while its distance from 52-week low price is 10.4%. It sells trade books, including hardcover and paperback titles; mass market paperbacks, such as mystery, romance, science fiction, and other fiction; and childrenÂ's books, eBooks and other digital content, NOOK and related accessories, bargain books, magazines, gifts, café services and products, educational toys and games, and music and movies.