Renaissance Technologies LLC decreased its stake in Black Box Corporation (NASDAQ:BBOX) by 12.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 427,800 shares of the technology company’s stock after selling 61,100 shares during the period. Renaissance Technologies LLC owned approximately 2.82% of Black Box Corporation worth $3,829,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Tennessee Treasury Department increased its stake in Black Box Corporation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 14,595 shares of the technology company’s stock worth $131,000 after buying an additional 2,203 shares during the last quarter. Wells Fargo & Company MN increased its stake in Black Box Corporation by 41.3% in the first quarter. Wells Fargo & Company MN now owns 15,991 shares of the technology company’s stock worth $143,000 after buying an additional 4,671 shares during the last quarter. Comerica Bank boosted its stake in Black Box Corporation by 2.8% in the first quarter. Comerica Bank now owns 16,461 shares of the technology company’s stock valued at $167,000 after buying an additional 450 shares during the period. Trexquant Investment LP purchased a new stake in Black Box Corporation during the first quarter valued at $180,000. Finally, PNC Financial Services Group Inc. purchased a new stake in Black Box Corporation during the first quarter valued at $195,000. Hedge funds and other institutional investors own 94.35% of the company’s stock.
Shares of Black Box Corporation (NASDAQ:BBOX) remained flat at $3.35 during trading on Friday. 252,115 shares of the company were exchanged. The firm’s market cap is $50.71 million. Black Box Corporation has a one year low of $3.25 and a one year high of $17.05. The stock’s 50-day moving average is $7.30 and its 200-day moving average is $8.57.
Black Box Corporation (NASDAQ:BBOX) last posted its quarterly earnings results on Thursday, August 10th. The technology company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.34. Black Box Corporation had a positive return on equity of 3.05% and a negative net margin of 1.97%. The business had revenue of $191.60 million for the quarter, compared to analyst estimates of $207.63 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The firm’s quarterly revenue was down 12.3% on a year-over-year basis. On average, analysts expect that Black Box Corporation will post ($0.69) EPS for the current fiscal year.
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Separately, Sidoti raised shares of Black Box Corporation from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Tuesday, June 27th.
In other Black Box Corporation news, Director John S. Heller purchased 10,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were purchased at an average price of $4.35 per share, for a total transaction of $43,500.00. Following the completion of the purchase, the director now directly owns 52,320 shares of the company’s stock, valued at $227,592. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.70% of the stock is owned by insiders.
Black Box Corporation Company Profile
Black Box Corporation is a technology solutions provider. The Company is engaged in designing, building, managing and securing the information technology (IT) infrastructure. Offerings under the Company’s Products platform include IT infrastructure, specialty networking, multimedia and keyboard/video/mouse (KVM) switching.
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