152,200 Shares in Staples, Inc. (SPLS) Purchased by Burren Capital Advisors Ltd
Burren Capital Advisors Ltd acquired a new position in shares of Staples, Inc. (NASDAQ:SPLS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 152,200 shares of the specialty retailer’s stock, valued at approximately $1,533,000. Staples comprises approximately 9.3% of Burren Capital Advisors Ltd’s holdings, making the stock its 6th largest holding.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ballentine Partners LLC lifted its stake in shares of Staples by 0.5% in the 2nd quarter. Ballentine Partners LLC now owns 10,304 shares of the specialty retailer’s stock valued at $104,000 after purchasing an additional 50 shares during the last quarter. Fisher Asset Management LLC acquired a new position in shares of Staples in the 2nd quarter valued at $109,000. Airain ltd acquired a new position in shares of Staples in the 2nd quarter valued at $109,000. Summit Securities Group LLC acquired a new position in shares of Staples in the 2nd quarter valued at $116,000. Finally, HighTower Advisors LLC acquired a new position in shares of Staples in the 1st quarter valued at $102,000. 85.56% of the stock is currently owned by institutional investors.
SPLS has been the topic of several recent analyst reports. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Staples in a research note on Tuesday, June 20th. Deutsche Bank AG set a $8.00 price target on Staples and gave the company a “hold” rating in a research note on Thursday, June 22nd. 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 note on Thursday, June 29th. BidaskClub lowered Staples from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $9.00 price target on shares of Staples in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $8.85.
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Staples, Inc. (NASDAQ SPLS) traded up 0.10% during midday trading on Friday, hitting $10.25. The company had a trading volume of 9,785,997 shares. The stock has a 50 day moving average of $10.21 and a 200 day moving average of $9.58. The firm’s market cap is $6.73 billion. Staples, Inc. has a 52-week low of $7.24 and a 52-week high of $10.26.
Staples (NASDAQ:SPLS) last issued its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.12. Staples had a return on equity of 7.49% and a net margin of 1.61%. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter last year, the firm earned $0.12 earnings per share. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, analysts anticipate that Staples, Inc. will post $0.86 EPS for the current year.
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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