Pier 1 Imports, Inc. (PIR) Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP trimmed its stake in shares of Pier 1 Imports, Inc. (NYSE:PIR) by 56.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,000 shares of the specialty retailer’s stock after selling 330,280 shares during the quarter. Systematic Financial Management LP owned about 0.30% of Pier 1 Imports worth $1,329,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Trexquant Investment LP lifted its holdings in shares of Pier 1 Imports by 0.4% during the first quarter. Trexquant Investment LP now owns 73,572 shares of the specialty retailer’s stock worth $527,000 after buying an additional 272 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Pier 1 Imports by 0.5% during the second quarter. Rhumbline Advisers now owns 107,812 shares of the specialty retailer’s stock worth $560,000 after buying an additional 491 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Pier 1 Imports by 1.0% during the first quarter. Dynamic Technology Lab Private Ltd now owns 64,496 shares of the specialty retailer’s stock worth $462,000 after buying an additional 644 shares in the last quarter. NGAM Advisors L.P. lifted its holdings in shares of Pier 1 Imports by 3.5% during the second quarter. NGAM Advisors L.P. now owns 41,971 shares of the specialty retailer’s stock worth $218,000 after buying an additional 1,404 shares in the last quarter. Finally, Ngam Advisors L.P. lifted its holdings in shares of Pier 1 Imports by 4.2% during the first quarter. Ngam Advisors L.P. now owns 40,567 shares of the specialty retailer’s stock worth $291,000 after buying an additional 1,631 shares in the last quarter. 82.76% of the stock is owned by hedge funds and other institutional investors.

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A number of research firms have recently weighed in on PIR. Loop Capital dropped their target price on Pier 1 Imports from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. BidaskClub downgraded Pier 1 Imports from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. ValuEngine raised Pier 1 Imports from a “hold” rating to a “buy” rating in a report on Friday. Jefferies Group LLC reissued a “hold” rating and set a $5.90 target price on shares of Pier 1 Imports in a report on Sunday, September 3rd. Finally, KeyCorp reissued a “hold” rating on shares of Pier 1 Imports in a report on Friday, September 8th. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $5.69.

Pier 1 Imports, Inc. (PIR) opened at 4.71 on Tuesday. Pier 1 Imports, Inc. has a 52-week low of $3.96 and a 52-week high of $9.68. The company has a market cap of $381.89 million, a PE ratio of 11.75 and a beta of 1.69. The firm has a 50-day moving average price of $4.37 and a 200-day moving average price of $5.56.

Pier 1 Imports (NYSE:PIR) last released its quarterly earnings results on Wednesday, June 28th. The specialty retailer reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. Pier 1 Imports had a return on equity of 13.96% and a net margin of 1.82%. The firm had revenue of $409.50 million for the quarter, compared to analysts’ expectations of $420.80 million. During the same quarter last year, the firm posted ($0.07) EPS. The company’s revenue was down 2.1% compared to the same quarter last year. On average, analysts forecast that Pier 1 Imports, Inc. will post $0.47 EPS for the current year.

Pier 1 Imports 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.

Institutional Ownership by Quarter for Pier 1 Imports (NYSE:PIR)

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