Quantbot Technologies LP Has $112,000 Stake in Pier 1 Imports, Inc. (PIR)
Quantbot Technologies LP lowered its stake in Pier 1 Imports, Inc. (NYSE:PIR) by 38.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,623 shares of the specialty retailer’s stock after selling 13,415 shares during the quarter. Quantbot Technologies LP’s holdings in Pier 1 Imports were worth $112,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Aperio Group LLC acquired a new position in shares of Pier 1 Imports in the 2nd quarter valued at $103,000. Jane Street Group LLC lifted its stake in shares of Pier 1 Imports by 29.0% in the 1st quarter. Jane Street Group LLC now owns 21,562 shares of the specialty retailer’s stock valued at $154,000 after purchasing an additional 4,853 shares during the period. Koch Industries Inc. acquired a new position in shares of Pier 1 Imports in the 1st quarter valued at $171,000. Eagle Global Advisors LLC acquired a new position in shares of Pier 1 Imports in the 2nd quarter valued at $175,000. Finally, SG Americas Securities LLC acquired a new position in shares of Pier 1 Imports in the 2nd quarter valued at $178,000. 83.51% of the stock is currently owned by institutional investors.
Shares of Pier 1 Imports, Inc. (PIR) opened at 4.13 on Monday. Pier 1 Imports, Inc. has a 52 week low of $3.96 and a 52 week high of $9.68. The firm has a market cap of $334.86 million, a P/E ratio of 10.30 and a beta of 1.69. The company’s 50-day moving average price is $4.32 and its 200 day moving average price is $5.32.
Pier 1 Imports (NYSE:PIR) last released its earnings results on Wednesday, September 27th. The specialty retailer reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. The business had revenue of $407.61 million for the quarter, compared to analyst estimates of $406.32 million. Pier 1 Imports had a net margin of 1.61% and a return on equity of 13.82%. Pier 1 Imports’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) earnings per share. On average, equities analysts anticipate that Pier 1 Imports, Inc. will post $0.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, October 17th. This represents a $0.28 annualized dividend and a yield of 6.78%. Pier 1 Imports’s payout ratio is 77.78%.
A number of research firms have recently weighed in on PIR. Loop Capital cut their price target on Pier 1 Imports from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Telsey Advisory Group cut their price target on Pier 1 Imports from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Thursday, June 29th. Zacks Investment Research downgraded Pier 1 Imports from a “hold” rating to a “sell” rating in a research note on Saturday, September 30th. Johnson Rice downgraded Pier 1 Imports from an “accumulate” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, BidaskClub downgraded Pier 1 Imports from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $5.01.
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About Pier 1 Imports
Pier 1 Imports, Inc is an importer of home decor and furniture. The Company’s operations consist of retail stores and an e-commerce Website conducting business under the name Pier 1 Imports, which sells a range of decorative accessories, furniture, candles, housewares, gifts and seasonal products. The Company’s categories of merchandise include decorative accessories and furniture.
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