The New Alden Global Capital Llc Holding in Pier 1 Imports IncDe
Alden Global Capital Llc filed with the SEC SC 13D/A form for Pier 1 Imports IncDe. The form can be accessed here: 000092189516005879. As reported in Alden Global Capital Llc’s form, the filler as of late owns 9.5% or 7,913,500 shares of the Consumer Discretionary–company.
Pier 1 Imports IncDe stake is a new one for the and it was filed because of activity on October 14, 2106. We feel this shows Alden Global Capital Llc’s positive view for the stock.
Pier 1 Imports IncDe Institutional Sentiment
Latest Security and Exchange filings show 169 investors own Pier 1 Imports IncDe. The institutional ownership in Q3 2015 is high, at 97.42% of the outstanding shares. This is decreased by 5745083 the total institutional shares. 80949147 were the shares owned by these institutional investors. In total 29 funds opened new Pier 1 Imports IncDe stakes, 61 increased stakes. There were 39 that closed positions and 61 reduced them.
True Bearing Asset Management Lp is an institutional investor bullish on Pier 1 Imports IncDe, owning 133147 shares as of Q3 2015 for 1.56% of its portfolio. Kestrel Investment Management Corp owns 447000 shares or 1.07% of its portfolio. CT Westport Asset Management Inc have 0.96% of their stock portfolio for 159425 shares. Further, Dynamic Capital Management Ltd reported stake worth 0.63% of its US stock portfolio. The VA Vnbtrust National Association owns 420850 shares. Pier 1 Imports IncDe is 1.65% of the manager’s US portfolio.
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. The decorative accessories category includes decorative accents and textiles, such as rugs, wall decorations and mirrors, candles, fragrance, gifts and seasonal items. The furniture category includes furniture and furniture cushions to be used in living, dining, office, sunrooms and patios. This merchandise group is generally made of metal or handcrafted natural materials, including rattan, pine, acacia, oak and other woods with either natural, stained, painted or upholstered finishes.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment increased to 1.39 in Q2 2016. Its up 0.54, from 0.85 in 2016Q1. The ratio increased, as 18 funds sold all Pier 1 Imports Inc shares owned while 53 reduced positions. 45 funds bought stakes while 54 increased positions. They now own 80.87 million shares or 10.40% more from 73.25 million shares in 2016Q1.
New York State Common Retirement Fund, a New York-based fund reported 77,000 shares. Dimensional Fund Advsr L P last reported 0.01% of its portfolio in the stock. Ig Investment Mngmt Ltd last reported 94,863 shares in the company. Rhumbline Advisers has invested 0% of its portfolio in Pier 1 Imports Inc (NYSE:PIR). Quantitative Inv Ltd Llc reported 71,200 shares or 0.02% of all its holdings. Paloma Prtn Management has invested 0% of its portfolio in Pier 1 Imports Inc (NYSE:PIR). Pacific Ridge Capital Prns Ltd Liability Com accumulated 0.17% or 73,380 shares. Towle And holds 1.97% of its portfolio in Pier 1 Imports Inc (NYSE:PIR) for 2.07M shares. Blackrock Inc reported 33,739 shares or 0% of all its holdings. Moreover, Mackenzie Fincl Corporation has 0.01% invested in Pier 1 Imports Inc (NYSE:PIR) for 259,945 shares. Brandywine Global Investment Mgmt Ltd holds 0.05% or 1.42 million shares in its portfolio. Lucus Advisors Ltd holds 0.27% of its portfolio in Pier 1 Imports Inc (NYSE:PIR) for 63,024 shares. Petrus Tru Lta has invested 0.09% of its portfolio in Pier 1 Imports Inc (NYSE:PIR). Citigroup owns 89,980 shares or 0% of their US portfolio. Teton Inc has 0.02% invested in the company for 36,000 shares.
The stock closed at $4.16 during the last session. It is down 34.18% since March 15, 2016 and is downtrending. It has underperformed by 39.66% the S&P500.
Pier 1 Imports, Inc. is an importer of home decor and furniture. The company has a market cap of $330.55 million. The Company’s activities 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. It has a 17.75 P/E ratio. The Company’s categories of merchandise include decorative accessories and furniture.
Pier 1 Imports Inc (NYSE:PIR) Ratings Coverage
Out of 17 analysts covering Pier 1 Imports (NYSE:PIR), 4 rate it a “Buy”, 4 “Sell”, while 9 “Hold”. This means 24% are positive. $15.0 is the highest target while $3.50 is the lowest. The $8.68 average target is 108.65% above today’s ($4.16) stock price. Pier 1 Imports has been the topic of 28 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by Credit Suisse given on Friday, December 11. The firm earned “Hold” rating on Friday, September 25 by Deutsche Bank. Topeka Capital Markets initiated Pier 1 Imports Inc (NYSE:PIR) on Tuesday, May 24 with “Buy” rating. The rating was downgraded by Johnson Rice on Thursday, December 17 to “Hold”. As per Tuesday, August 25, the company rating was upgraded by Zacks. The stock has “Sell” rating given by UBS on Monday, November 9. The stock of Pier 1 Imports Inc (NYSE:PIR) earned “Neutral” rating by Wedbush on Thursday, September 8. The firm earned “Outperform” rating on Friday, September 25 by Credit Agricole. Jefferies maintained Pier 1 Imports Inc (NYSE:PIR) on Thursday, September 29 with “Hold” rating. The company was downgraded on Thursday, December 17 by Deutsche Bank.
More notable recent Pier 1 Imports Inc (NYSE:PIR) news were published by: Businesswire.com which released: “Pier 1 Imports Comments on Letter from Alden Global Capital” on October 14, 2016, also Fool.com with their article: “Why Pier 1 Imports Inc Stock Spiked Today” published on September 29, 2016, Denverpost.com published: “Alden Global reports 9.5 percent stake in Pier 1 Imports” on September 20, 2016. More interesting news about Pier 1 Imports Inc (NYSE:PIR) were released by: Seekingalpha.com and their article: “Don’t Chase Pier 1 Imports” published on October 04, 2016 as well as Reuters.com‘s news article titled: “BRIEF-Pier 1 Imports Inc adopts short-term shareholder rights protection a…” with publication date: September 27, 2016.
According to Zacks Investment Research, “Pier 1 Imports, Inc. consists of a chain of retail stores operating under the names Pier 1 Imports and The Pier, selling a wide variety of furniture, decorative home furnishings, dining and kitchen goods, accessories and other specialty items for the home. Additionally, the company, through certain subsidiaries, operates stores in the United Kingdom under the name The Pier. The company supplies merchandise and licenses the Pier 1 name to Sears Mexico and Sears Puerto Rico.”
PIR Company Profile
Pier 1 Imports, Inc., incorporated on April 30, 1986, is an importer of home decor and furniture. The Company’s activities 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 Firm operates approximately 950 stores in the United States, over 80 stores in Canada and an e-commerce Website, Pier1.com. The Company’s stores in the United States and Canada average approximately 9,900 gross square feet, which includes an average of approximately 7,900 square feet of retail selling space. The stores are located in freestanding units near shopping centers or malls and in-line positions in shopping centers. It operates in all the United States and Canadian metropolitan areas, and in primary smaller markets.
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