Shares of Barnes & Noble, Inc. (NYSE:BKS) were down 11.5% on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $6.75 and last traded at $6.90. Approximately 3,492,132 shares traded hands during mid-day trading, an increase of 227% from the average daily volume of 1,068,611 shares. The stock had previously closed at $7.80.

The specialty retailer reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.15). Barnes & Noble had a net margin of 0.67% and a return on equity of 4.48%. The business had revenue of $791.12 million for the quarter, compared to analyst estimates of $812.20 million. During the same period in the prior year, the business earned ($0.29) EPS. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year.

Several research analysts have weighed in on BKS shares. Zacks Investment Research cut Barnes & Noble from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Craig Hallum cut Barnes & Noble from a “buy” rating to a “hold” rating in a research report on Friday.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Barnes & Noble by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 6,348,364 shares of the specialty retailer’s stock worth $58,723,000 after buying an additional 407,488 shares during the period. State Street Corp increased its position in Barnes & Noble by 9.1% during the 2nd quarter. State Street Corp now owns 2,110,832 shares of the specialty retailer’s stock worth $16,042,000 after buying an additional 176,561 shares during the period. Royce & Associates LP increased its position in Barnes & Noble by 6.0% during the 3rd quarter. Royce & Associates LP now owns 954,503 shares of the specialty retailer’s stock worth $7,254,000 after buying an additional 53,879 shares during the period. Schwab Charles Investment Management Inc. increased its position in Barnes & Noble by 21.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 794,765 shares of the specialty retailer’s stock worth $6,041,000 after buying an additional 142,037 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in Barnes & Noble by 46.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 458,867 shares of the specialty retailer’s stock worth $3,487,000 after buying an additional 145,204 shares during the period. Hedge funds and other institutional investors own 66.23% of the company’s stock.

The company has a quick ratio of 0.17, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $548.35, a PE ratio of 22.88, a P/E/G ratio of 1.48 and a beta of 2.60.

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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.

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