Westport Asset Management Inc buys $1,347,784 stake in Pier 1 Imports Inc (PIR)

Pier 1 Imports Inc (PIR) : Westport Asset Management Inc scooped up 100,000 additional shares in Pier 1 Imports 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 283,744 shares of Pier 1 Imports Inc which is valued at $1,347,784.Pier 1 Imports Inc makes up approximately 1.22% of Westport Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Envestnet Asset Management Inc reduced its stake in PIR by selling 16,478 shares or 56.22% in the most recent quarter. The Hedge Fund company now holds 12,834 shares of PIR which is valued at $60,962. Group One Trading added PIR to its portfolio by purchasing 5,289 company shares during the most recent quarter which is valued at $25,123.Canada Pension Plan Investment Board reduced its stake in PIR by selling 61,100 shares or 4.93% in the most recent quarter. The Hedge Fund company now holds 1,179,100 shares of PIR which is valued at $5,600,725. Pier 1 Imports Inc makes up approx 0.02% of Canada Pension Plan Investment Board’s portfolio. Old Mutual Global Investors (uk) Ltd. added PIR to its portfolio by purchasing 171,656 company shares during the most recent quarter which is valued at $841,114. Pier 1 Imports Inc makes up approx 0.02% of Old Mutual Global Investors (uk) Ltd.’s portfolio.

Pier 1 Imports Inc closed down -0.19 points or -4.12% at $4.42 with 15,26,066 shares getting traded on Thursday. Post opening the session at $4.6, the shares hit an intraday low of $4.4 and an intraday high of $4.61 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Pier 1 Imports Inc reported $-0.07 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jun 29, 2016. Analyst had a consensus of $-0.05. The company had revenue of $418.40 million for the quarter, compared to analysts expectations of $420.11 million. The company’s revenue was down -4.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.08 EPS.

Many Wall Street Analysts have commented on Pier 1 Imports Inc. Shares were Reiterated by Wedbush on Jun 30, 2016 to “Neutral” and Lowered the Price Target to $ 5 from a previous price target of $6 .Shares were Reiterated by Telsey Advisory Group on Jun 30, 2016 to “Market Perform” and Lowered the Price Target to $ 5 from a previous price target of $6 .Pier 1 Imports Inc was Upgraded by Wolfe Research to ” Peer Perform” on Jun 23, 2016.

Pier 1 Imports Inc. is a global 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 furniture home furnishings dining and kitchen goods candles gifts and other specialty items for the home. The Company operates approximately 984 stores in the United States 81 stores in Canada and an e-commerce Website. Its stores in the United States and Canada average approximately 9900 gross square feet which includes an average of approximately 7900 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 United States and Canadian metropolitan areas and in primary smaller markets. The Company’s categories of merchandise include decorative accessories and furniture.

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