Clinton Group Inc. Has $1.48 Million Position in Staples, Inc. (SPLS)
Clinton Group Inc. cut its stake in shares of Staples, Inc. (NASDAQ:SPLS) by 74.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,295 shares of the specialty retailer’s stock after selling 425,303 shares during the quarter. Clinton Group Inc.’s holdings in Staples were worth $1,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Stephens Inc. AR grew its holdings in Staples by 6.8% in the 1st quarter. Stephens Inc. AR now owns 11,640 shares of the specialty retailer’s stock worth $102,000 after acquiring an additional 744 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Staples in the first quarter valued at about $102,000. Ballentine Partners LLC increased its position in shares of Staples by 0.5% in the second quarter. Ballentine Partners LLC now owns 10,304 shares of the specialty retailer’s stock valued at $104,000 after acquiring an additional 50 shares during the period. Fisher Asset Management LLC purchased a new position in shares of Staples in the second quarter valued at about $109,000. Finally, Airain ltd purchased a new position in shares of Staples in the second quarter valued at about $109,000. Institutional investors own 85.56% of the company’s stock.
Shares of Staples, Inc. (NASDAQ:SPLS) traded up 0.10% during trading on Wednesday, hitting $10.25. 9,785,997 shares of the company traded hands. The company’s market capitalization is $6.73 billion. Staples, Inc. has a 52 week low of $7.24 and a 52 week high of $10.26. The company has a 50 day moving average price of $10.21 and a 200 day moving average price of $9.58.
Staples (NASDAQ:SPLS) last issued its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.12. The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.87 billion. Staples had a net margin of 1.61% and a return on equity of 7.49%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 earnings per share. On average, analysts expect that Staples, Inc. will post $0.86 earnings per share for the current year.
A number of analysts have recently weighed in on the stock. Deutsche Bank AG set a $8.00 target price on shares of Staples and gave the stock a “hold” rating in a report on Thursday, June 22nd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Staples in a research note on Tuesday, June 20th. Jefferies Group LLC restated a “hold” rating and set a $9.00 price target on shares of Staples in a report on Wednesday, August 9th. Zacks Investment Research upgraded Staples from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Finally, Telsey Advisory Group upped their price target on Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a research report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $9.04.
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Staples, Inc (Staples) is a provider of products and services that serve the needs of business customers and consumers. The Company offers a range of print and marketing and technology services. The Company’s segments include North American Delivery, North American Retail and Other. The North American Delivery segment consists of the United States and Canadian businesses, including Staples Business Advantage, staples.com, staples.ca, and quill.com, that sell and deliver products and services primarily to businesses.
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