Barnes & Noble Inc. (NYSE:BKS) traded up 10.5% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $12.95 and last traded at $12.65, with a volume of 2,285,455 shares. The stock had previously closed at $11.45.

The company reported ($0.29) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.05. Barnes & Noble had a positive return on equity of 6.07% and a negative net margin of 0.10%. The firm earned $858.50 million during the quarter, compared to the consensus estimate of $859.78 million. During the same period last year, the business posted ($0.28) EPS. The business’s revenue was down 4.0% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Friday, October 7th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, October 5th. This represents a $0.60 dividend on an annualized basis and a yield of 4.63%. Barnes & Noble’s payout ratio is currently -599.94%.

BKS has been the topic of a number of research analyst reports. Gabelli cut shares of Barnes & Noble from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Sidoti initiated coverage on shares of Barnes & Noble in a research report on Thursday, August 18th. They set a “neutral” rating and a $13.00 price objective on the stock. Zacks Investment Research cut shares of Barnes & Noble from a “buy” rating to a “hold” rating in a research report on Tuesday, August 23rd. Finally, Consumer Edge cut shares of Barnes & Noble from an “outperform” rating to an “equal weight” rating in a research report on Wednesday, November 16th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $15.38.

In related news, insider Frederic Argir sold 17,377 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $11.59, for a total value of $201,399.43. Following the transaction, the insider now owns 73,154 shares of the company’s stock, valued at approximately $847,854.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP David S. Deason sold 9,620 shares of the firm’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $10.79, for a total transaction of $103,799.80. Following the completion of the transaction, the vice president now directly owns 96,297 shares in the company, valued at approximately $1,039,044.63. The disclosure for this sale can be found here. 19.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Barnes & Noble by 2.7% in the second quarter. Vanguard Group Inc. now owns 4,558,830 shares of the company’s stock valued at $51,742,000 after buying an additional 121,648 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Barnes & Noble by 3.2% in the third quarter. BlackRock Fund Advisors now owns 4,120,314 shares of the company’s stock valued at $46,560,000 after buying an additional 126,633 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Barnes & Noble by 16.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,740,944 shares of the company’s stock valued at $19,673,000 after buying an additional 247,444 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Barnes & Noble by 6.2% in the third quarter. Bank of New York Mellon Corp now owns 1,345,298 shares of the company’s stock valued at $15,202,000 after buying an additional 78,505 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Barnes & Noble by 307.9% in the second quarter. Prudential Financial Inc. now owns 663,974 shares of the company’s stock valued at $7,536,000 after buying an additional 501,180 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

The firm’s 50-day moving average is $10.82 and its 200 day moving average is $11.52. The firm’s market cap is $947.33 million.

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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.

5 Day Chart for NYSE:BKS

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