Insider Buying: Barnes & Noble, Inc. (BKS) Chairman Purchases $6,800,000.00 in Stock

Barnes & Noble, Inc. (NYSE:BKS) Chairman Leonard Riggio bought 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was purchased at an average cost of $6.80 per share, with a total value of $6,800,000.00. Following the acquisition, the chairman now directly owns 8,594,491 shares in the company, valued at approximately $58,442,538.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Barnes & Noble, Inc. (BKS) opened at $6.60 on Thursday. Barnes & Noble, Inc. has a 1-year low of $6.25 and a 1-year high of $13.20. The company has a market cap of $473.11, a PE ratio of 31.43, a price-to-earnings-growth ratio of 1.29 and a beta of 2.65. The company has a current ratio of 1.11, a quick ratio of 0.18 and a debt-to-equity ratio of 0.47.

Barnes & Noble (NYSE:BKS) last released its quarterly earnings data on Thursday, November 30th. The specialty retailer reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.15). Barnes & Noble had a net margin of 0.42% and a return on equity of 2.86%. The company had revenue of $791.12 million for the quarter, compared to the consensus estimate of $812.20 million. During the same period last year, the company earned ($0.29) EPS. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. equities research analysts forecast that Barnes & Noble, Inc. will post 0.51 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 9.09%. Barnes & Noble’s dividend payout ratio (DPR) is presently 285.71%.

BKS has been the subject of several research reports. Craig Hallum downgraded shares of Barnes & Noble from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research downgraded shares of Barnes & Noble from a “buy” rating to a “hold” rating in a report on Thursday, August 10th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FNY Partners Fund LP purchased a new stake in shares of Barnes & Noble during the 3rd quarter valued at about $102,000. Petrus Trust Company LTA raised its position in shares of Barnes & Noble by 70.0% during the 2nd quarter. Petrus Trust Company LTA now owns 22,086 shares of the specialty retailer’s stock valued at $168,000 after buying an additional 9,097 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Barnes & Noble during the 3rd quarter valued at about $171,000. Campbell & CO Investment Adviser LLC raised its position in shares of Barnes & Noble by 76.1% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 23,507 shares of the specialty retailer’s stock valued at $179,000 after buying an additional 10,158 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Barnes & Noble during the 3rd quarter valued at about $189,000. 66.32% of the stock is 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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