The Bon-Ton Stores Inc. (BONT) Announces Quarterly Earnings Results, Misses Expectations By $0.22 EPS
The Bon-Ton Stores Inc. (NASDAQ:BONT) announced its quarterly earnings results on Thursday. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.36) by $0.22. The Bon-Ton Stores had a negative return on equity of 663.72% and a negative net margin of 2.19%. The company had revenue of $589.90 million for the quarter, compared to the consensus estimate of $623.40 million.
Shares of The Bon-Ton Stores (NASDAQ:BONT) opened at 1.60 on Friday. The company’s market cap is $34.42 million. The company’s 50-day moving average price is $1.60 and its 200 day moving average price is $1.62. The Bon-Ton Stores has a one year low of $1.25 and a one year high of $4.20.
In other news, major shareholder Donald E. Morgan III bought 53,897 shares of the stock in a transaction dated Tuesday, September 6th. The stock was bought at an average price of $1.69 per share, for a total transaction of $91,085.93. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Donald E. Morgan III bought 20,610 shares of the stock in a transaction dated Monday, August 29th. The stock was purchased at an average price of $1.70 per share, with a total value of $35,037.00. The disclosure for this purchase can be found here. 46.78% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Spark Investment Management LLC boosted its position in The Bon-Ton Stores by 28.1% in the second quarter. Spark Investment Management LLC now owns 81,100 shares of the company’s stock worth $114,000 after buying an additional 17,800 shares during the last quarter. Societe Generale purchased a new position in The Bon-Ton Stores during the second quarter worth approximately $211,000. Vanguard Group Inc. boosted its position in The Bon-Ton Stores by 1.1% in the second quarter. Vanguard Group Inc. now owns 543,204 shares of the company’s stock worth $766,000 after buying an additional 6,000 shares during the last quarter. Finally, Royce & Associates LP boosted its position in The Bon-Ton Stores by 72.4% in the second quarter. Royce & Associates LP now owns 587,596 shares of the company’s stock worth $829,000 after buying an additional 246,700 shares during the last quarter. Institutional investors own 29.20% of the company’s stock.
The Bon-Ton Stores Company Profile
The Bon-Ton Stores, Inc is a department store operator. The Company operates through two segments: stores and eCommerce (its Internet Websites). The Company offers a range of brand-name fashion apparel and accessories for women, men and children. It operates approximately 270 stores in over 26 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers nameplates, encompassing a total of approximately 25 million square feet.
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