Barnes & Noble Education, Inc. (NYSE:BNED) Short Interest Update

Barnes & Noble Education, Inc. (NYSE:BNED) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 787,000 shares, an increase of 21.4% from the February 13th total of 648,100 shares. Based on an average daily trading volume, of 510,300 shares, the days-to-cover ratio is presently 1.5 days. Approximately 7.2% of the company’s shares are short sold.

Hedge Funds Weigh In On Barnes & Noble Education

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Barnes & Noble Education by 104.0% in the third quarter. Geode Capital Management LLC now owns 152,839 shares of the specialty retailer’s stock worth $1,416,000 after buying an additional 77,932 shares during the period. AMH Equity Ltd bought a new stake in Barnes & Noble Education in the 4th quarter worth $803,000. Kanen Wealth Management LLC increased its position in shares of Barnes & Noble Education by 49.6% in the fourth quarter. Kanen Wealth Management LLC now owns 2,365,360 shares of the specialty retailer’s stock valued at $23,748,000 after acquiring an additional 784,576 shares during the period. State Street Corp raised its stake in shares of Barnes & Noble Education by 40.9% during the third quarter. State Street Corp now owns 35,463 shares of the specialty retailer’s stock valued at $328,000 after acquiring an additional 10,300 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. boosted its holdings in shares of Barnes & Noble Education by 383.3% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 290,000 shares of the specialty retailer’s stock worth $2,912,000 after purchasing an additional 230,000 shares during the period. 38.51% of the stock is owned by hedge funds and other institutional investors.

Barnes & Noble Education Stock Performance

NYSE:BNED traded down $0.03 during trading hours on Tuesday, reaching $9.70. The stock had a trading volume of 202,160 shares, compared to its average volume of 384,576. The stock has a market cap of $330.32 million, a P/E ratio of -0.29 and a beta of 2.23. Barnes & Noble Education has a 12-month low of $6.05 and a 12-month high of $135.00. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.71 and a current ratio of 1.31. The stock has a 50 day simple moving average of $10.38 and a 200 day simple moving average of $10.38.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Barnes & Noble Education from a “sell” rating to a “hold” rating in a report on Tuesday, January 21st.

About Barnes & Noble Education

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.