William Blair Initiates Coverage on Blue Nile Inc to Market Perform

William Blair Initiates Coverage on Blue Nile Inc(NASDAQ:NILE). The shares have been rated Market Perform. The rating by William Blair was issued on Jun 10, 2016.

Blue Nile Inc (NILE) made into the market gainers list on Wednesdays trading session with the shares advancing 0.54% or 0.14 points. Due to strong positive momentum, the stock ended at $26.1, which is also near the day’s high of $26.63. The stock began the session at $26 and the volume stood at 79,664 shares. The 52-week high of the shares is $39 and the 52 week low is $22.33. The company has a current market capitalization of $303 M and it has 1,16,08,967 shares in outstanding.

Blue Nile Inc(NILE) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $103.06M. Analysts had an estimated revenue of $104.28M. Earnings per share were $0.09. Analysts had estimated an EPS of $0.09.

Several Insider Transactions has been reported to the SEC. On May 13, 2016, Michael J Potter (director) purchased 4,000 shares at $25.55 per share price.Also, On Feb 19, 2016, Schoonenberg Robert G Van (director) purchased 1,000 shares at $27.22 per share price.On Feb 10, 2016, Jon Sainsbury (President of International) sold 100 shares at $30.43 per share price, according to the Form-4 filing with the securities and exchange commission.

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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