Archon Capital Management buys $4,344,522 stake in Blue Nile Inc (NILE)

Blue Nile Inc (NILE) : Archon Capital Management scooped up 49,032 additional shares in Blue Nile Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 141,700 shares of Blue Nile Inc which is valued at $4,344,522.Blue Nile Inc makes up approximately 5.04% of Archon Capital Management’s portfolio.

Other Hedge Funds, Including , Ellington Management Group sold out all of its stake in NILE during the most recent quarter. The investment firm sold 16,400 shares of NILE which is valued $502,824.California Public Employees Retirement System reduced its stake in NILE by selling 600 shares or 2.87% in the most recent quarter. The Hedge Fund company now holds 20,300 shares of NILE which is valued at $573,881.Hosking Partners Llp boosted its stake in NILE in the latest quarter, The investment management firm added 24,029 additional shares and now holds a total of 183,420 shares of Blue Nile Inc which is valued at $5,185,283. Blue Nile Inc makes up approx 0.20% of Hosking Partners Llp’s portfolio.Simplex Trading reduced its stake in NILE by selling 523 shares or 21.43% in the most recent quarter. The Hedge Fund company now holds 1,917 shares of NILE which is valued at $57,989. Blue Nile Inc makes up approx 0.01% of Simplex Trading’s portfolio.

Blue Nile Inc opened for trading at $34.54 and hit $35.14 on the upside on Thursday, eventually ending the session at $34.93, with a gain of 1.36% or 0.47 points. The heightened volatility saw the trading volume jump to 75,570 shares. Company has a market cap of $406 M.

On the company’s financial health, Blue Nile Inc reported $0.18 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $0.21. The company had revenue of $113.77 million for the quarter, compared to analysts expectations of $113.95 million. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Blue Nile Inc. (Blue Nile) is an online retailer of diamonds and jewelry. The Company offers its products for sale through the Blue Nile Website in around 40 countries and territories across the world. The Company’s wholly owned subsidiaries include Blue Nile LLC (LLC) which serves the Company’s customers in the United States Canada and Asia Pacific; Blue Nile Worldwide Inc. which serves the Company’s customers in Europe; Blue Nile (Shanghai) Trading Co. Ltd. which serves the Company’s customers in China and Blue Nile Jewellery Ltd (Jewellery) which operates a customer service and fulfillment center in Dublin Ireland. The Company’s domestic sales consist of products delivered to customers within the United States and the Company’s international sales consist of products delivered to customers outside the United States.

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