Systematic Financial Management LP Lowers Stake in Pier 1 Imports Inc (PIR)
Systematic Financial Management LP cut its holdings in Pier 1 Imports Inc (NYSE:PIR) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 227,805 shares of the specialty retailer’s stock after selling 21,685 shares during the quarter. Systematic Financial Management LP’s holdings in Pier 1 Imports were worth $943,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Towle & Co. acquired a new stake in shares of Pier 1 Imports in the third quarter valued at $6,481,000. Paradigm Capital Management Inc. NY increased its stake in shares of Pier 1 Imports by 1,260.2% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 557,700 shares of the specialty retailer’s stock valued at $2,309,000 after buying an additional 516,700 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Pier 1 Imports by 47.1% in the third quarter. Wells Fargo & Company MN now owns 106,188 shares of the specialty retailer’s stock valued at $444,000 after buying an additional 34,010 shares in the last quarter. Alambic Investment Management L.P. acquired a new stake in shares of Pier 1 Imports in the fourth quarter valued at $681,000. Finally, Old Mutual Global Investors UK Ltd. increased its stake in shares of Pier 1 Imports by 55.2% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 178,160 shares of the specialty retailer’s stock valued at $746,000 after buying an additional 63,396 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.
Shares of Pier 1 Imports Inc (NYSE:PIR) opened at $3.16 on Friday. The company has a quick ratio of 0.61, a current ratio of 2.14 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $255.88, a PE ratio of 9.03, a P/E/G ratio of -4.97 and a beta of 1.56. Pier 1 Imports Inc has a 12-month low of $2.87 and a 12-month high of $7.63.
In other news, major shareholder & Co Towle acquired 32,900 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $3.09 per share, for a total transaction of $101,661.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.58% of the stock is owned by company insiders.
A number of analysts have recently weighed in on PIR shares. Zacks Investment Research upgraded Pier 1 Imports from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. ValuEngine upgraded Pier 1 Imports from a “hold” rating to a “buy” rating in a research note on Monday, December 11th. Loop Capital set a $4.00 target price on Pier 1 Imports and gave the company a “hold” rating in a research note on Thursday, December 14th. Gordon Haskett lowered Pier 1 Imports from a “hold” rating to a “sell” rating and set a $3.50 target price for the company. in a research note on Thursday, December 14th. Finally, Telsey Advisory Group restated a “market perform” rating on shares of Pier 1 Imports in a research note on Thursday, January 25th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Pier 1 Imports presently has an average rating of “Hold” and an average target price of $4.78.
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Pier 1 Imports Company 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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