Eqis Capital Management Inc. purchased a new position in Staples, Inc. (NASDAQ:SPLS) during the second quarter, according to its most recent filing with the SEC. The fund purchased 14,093 shares of the specialty retailer’s stock, valued at approximately $142,000.
A number of other hedge funds have also recently made changes to their positions in the company. Fisher Asset Management LLC purchased a new stake in shares of Staples during the second quarter worth about $109,000. HighTower Advisors LLC purchased a new stake in shares of Staples during the first quarter worth about $102,000. Stephens Inc. AR increased its stake in shares of Staples by 6.8% in the first quarter. Stephens Inc. AR now owns 11,640 shares of the specialty retailer’s stock worth $102,000 after buying an additional 744 shares during the period. Concert Wealth Management Inc. increased its stake in shares of Staples by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 12,065 shares of the specialty retailer’s stock worth $109,000 after buying an additional 82 shares during the period. Finally, Cutter & CO Brokerage Inc. increased its stake in shares of Staples by 13.9% in the first quarter. Cutter & CO Brokerage Inc. now owns 12,300 shares of the specialty retailer’s stock worth $108,000 after buying an additional 1,500 shares during the period. 92.02% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Staples, Inc. (SPLS) traded down 0.29% during midday trading on Friday, hitting $10.14. 19,433,781 shares of the stock were exchanged. The firm’s market cap is $6.62 billion. Staples, Inc. has a 12-month low of $7.24 and a 12-month high of $10.25. The firm has a 50-day moving average price of $10.04 and a 200 day moving average price of $9.38.
Staples (NASDAQ:SPLS) last released its earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.17. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.50 billion. Staples had a negative net margin of 12.51% and a positive return on equity of 14.07%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. Analysts predict that Staples, Inc. will post $0.88 earnings per share for the current fiscal year.
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Several equities analysts have issued reports on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $9.00 price objective on shares of Staples in a report on Wednesday. BidaskClub raised shares of Staples from a “strong sell” rating to a “sell” rating in a report on Saturday, August 5th. Loop Capital reaffirmed a “hold” rating and set a $5.00 price objective on shares of Staples in a report on Friday, May 19th. Telsey Advisory Group increased their price objective on shares of Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a report on Thursday, June 29th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Staples in a report on Tuesday, May 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $9.18.
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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