Landscape Capital Management L.L.C. Invests $453,000 in Pier 1 Imports Inc (PIR) Stock
Landscape Capital Management L.L.C. acquired a new position in Pier 1 Imports Inc (NYSE:PIR) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 109,511 shares of the specialty retailer’s stock, valued at approximately $453,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Towle & Co. purchased a new stake in Pier 1 Imports in the 3rd quarter worth approximately $6,481,000. Paradigm Capital Management Inc. NY lifted its holdings in Pier 1 Imports by 1,260.2% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 557,700 shares of the specialty retailer’s stock worth $2,309,000 after buying an additional 516,700 shares during the period. Wells Fargo & Company MN lifted its holdings in Pier 1 Imports by 47.1% in the 3rd quarter. Wells Fargo & Company MN now owns 106,188 shares of the specialty retailer’s stock worth $444,000 after buying an additional 34,010 shares during the period. Alambic Investment Management L.P. purchased a new stake in Pier 1 Imports in the 4th quarter worth approximately $681,000. Finally, Old Mutual Global Investors UK Ltd. lifted its holdings in Pier 1 Imports by 55.2% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 178,160 shares of the specialty retailer’s stock worth $746,000 after buying an additional 63,396 shares during the period. Institutional investors and hedge funds own 76.46% of the company’s stock.
In related news, major shareholder & Co Towle acquired 32,900 shares of Pier 1 Imports stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average price of $3.09 per share, with a total value of $101,661.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders have purchased 41,100 shares of company stock valued at $127,641. 5.58% of the stock is owned by corporate insiders.
Pier 1 Imports (NYSE:PIR) last announced its earnings results on Wednesday, December 13th. The specialty retailer reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). Pier 1 Imports had a return on equity of 10.17% and a net margin of 1.28%. The firm had revenue of $469.20 million during the quarter, compared to the consensus estimate of $466.60 million. During the same period in the prior year, the company posted $0.22 EPS. The firm’s revenue was down 1.4% on a year-over-year basis. research analysts expect that Pier 1 Imports Inc will post 0.2 earnings per share for the current fiscal year.
Several research firms have weighed in on PIR. Gordon Haskett cut Pier 1 Imports from a “hold” rating to a “sell” rating and set a $3.50 price objective for the company. in a report on Thursday, December 14th. Loop Capital set a $4.00 price objective on Pier 1 Imports and gave the stock a “hold” rating in a report on Thursday, December 14th. ValuEngine upgraded Pier 1 Imports from a “hold” rating to a “buy” rating in a report on Monday, December 11th. Zacks Investment Research upgraded Pier 1 Imports from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. Finally, Telsey Advisory Group reissued a “market perform” rating on shares of Pier 1 Imports in a research report on Thursday, January 25th. Seven analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $4.46.
Pier 1 Imports Profile
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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