Prudential Financial Inc. Continues to Hold Position in West Marine, Inc. (WMAR)
Prudential Financial Inc. held its position in shares of West Marine, Inc. (NASDAQ:WMAR) during the first quarter, Holdings Channel reports. The firm owned 24,190 shares of the specialty retailer’s stock at the end of the first quarter. Prudential Financial Inc.’s holdings in West Marine were worth $231,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the company. Hancock Holding Co. purchased a new position in shares of West Marine during the first quarter worth $186,000. Teachers Advisors LLC increased its position in shares of West Marine by 8.1% in the fourth quarter. Teachers Advisors LLC now owns 34,502 shares of the specialty retailer’s stock worth $361,000 after buying an additional 2,583 shares during the last quarter. First Quadrant L P CA increased its position in shares of West Marine by 219.4% in the first quarter. First Quadrant L P CA now owns 46,546 shares of the specialty retailer’s stock worth $444,000 after buying an additional 31,974 shares during the last quarter. Oxford Asset Management purchased a new position in shares of West Marine during the first quarter worth $539,000. Finally, Acadian Asset Management LLC increased its position in shares of West Marine by 507.6% in the first quarter. Acadian Asset Management LLC now owns 93,605 shares of the specialty retailer’s stock worth $893,000 after buying an additional 78,199 shares during the last quarter. Institutional investors and hedge funds own 59.65% of the company’s stock.
West Marine, Inc. (WMAR) opened at 12.84 on Friday. The firm has a 50 day moving average of $9.89 and a 200 day moving average of $9.80. West Marine, Inc. has a 12-month low of $7.77 and a 12-month high of $12.87. The firm has a market capitalization of $323.14 million, a P/E ratio of 38.33 and a beta of 1.31.
West Marine (NASDAQ:WMAR) last released its earnings results on Wednesday, April 26th. The specialty retailer reported ($0.29) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.07. The company had revenue of $129.10 million for the quarter, compared to analysts’ expectations of $130.88 million. West Marine had a return on equity of 2.70% and a net margin of 1.19%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.37) EPS. On average, analysts forecast that West Marine, Inc. will post $0.37 EPS for the current fiscal year.
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A number of equities analysts recently weighed in on the stock. B. Riley downgraded shares of West Marine from a “buy” rating to a “neutral” rating and set a $12.97 target price on the stock. in a report on Tuesday. BidaskClub upgraded shares of West Marine from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Forward View upgraded shares of West Marine from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research downgraded shares of West Marine from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Finally, TheStreet upgraded shares of West Marine from a “c+” rating to a “b” rating in a report on Thursday, April 27th. Five research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus price target of $9.99.
About West Marine
West Marine, Inc is a waterlife outfitter for cruisers, sailors, anglers and paddlesports enthusiasts. The Company offers a selection of core boating and water recreation products, primarily serving the needs of boat owners and professionals providing services to them. It services its customers through physical stores and two e-commerce Websites.
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