Jason Snagusky Sells 2,210 Shares of Barnes & Noble Education (NYSE:BNED) Stock

Barnes & Noble Education, Inc (NYSE:BNED) CFO Jason Snagusky sold 2,210 shares of Barnes & Noble Education stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $12.50, for a total value of $27,625.00. Following the completion of the transaction, the chief financial officer owned 78,999 shares in the company, valued at $987,487.50. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Barnes & Noble Education Stock Up 2.6%

Shares of Barnes & Noble Education stock opened at $11.67 on Thursday. Barnes & Noble Education, Inc has a 12-month low of $5.90 and a 12-month high of $14.75. The firm has a market capitalization of $400.14 million, a PE ratio of -36.46 and a beta of 1.29. The company has a quick ratio of 0.86, a current ratio of 1.42 and a debt-to-equity ratio of 0.48. The stock’s fifty day moving average is $10.71 and its 200-day moving average is $9.61.

Barnes & Noble Education Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 16th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $0.32 dividend on an annualized basis and a yield of 2.7%.

Institutional Investors Weigh In On Barnes & Noble Education

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in Barnes & Noble Education by 1,412.1% during the 4th quarter. Bank of America Corp DE now owns 6,139 shares of the specialty retailer’s stock valued at $62,000 after acquiring an additional 5,733 shares in the last quarter. Kanen Wealth Management LLC lifted its position in shares of Barnes & Noble Education by 30.6% in the first quarter. Kanen Wealth Management LLC now owns 3,090,043 shares of the specialty retailer’s stock worth $32,445,000 after purchasing an additional 724,683 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Barnes & Noble Education by 96.6% during the first quarter. Goldman Sachs Group Inc. now owns 104,205 shares of the specialty retailer’s stock worth $1,094,000 after purchasing an additional 51,190 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Barnes & Noble Education by 123.2% during the second quarter. Geode Capital Management LLC now owns 402,109 shares of the specialty retailer’s stock worth $4,734,000 after purchasing an additional 221,936 shares during the period. Finally, Cetera Investment Advisers purchased a new position in Barnes & Noble Education during the second quarter valued at approximately $344,000. 38.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on BNED. Needham & Company LLC raised shares of Barnes & Noble Education from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Friday, June 26th. Northland Securities set a $18.50 price target on shares of Barnes & Noble Education in a research report on Friday, June 26th. Zacks Research raised shares of Barnes & Noble Education to a “hold” rating in a research note on Thursday, June 11th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Barnes & Noble Education in a research report on Friday, April 10th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $17.25.

Barnes & Noble Education Company Profile

Barnes & Noble Education, Inc (NYSE: BNED) is a leading provider of educational products and services to the higher education community. The company operates retail campus bookstores under Barnes & Noble College, offering course materials, general merchandise, and digital content. In addition, Barnes & Noble Education delivers educational technology solutions through its digital learning platform and supplemental courseware.

Originally part of Barnes & Noble, Inc, the company completed its spin-off and initial public offering in February 2015 to focus exclusively on college retail and digital learning.