Towle & Co Increased Pier 1 Imports Inc (NYSE:PIR) Stake by $13.42 Million

February 23, 2018 - By Kurt Siggers

Investors sentiment decreased to 0.94 in 2017 Q3. Its down 0.16, from 1.1 in 2017Q2. It dived, as 28 investors sold PIR shares while 50 reduced holdings. 25 funds opened positions while 48 raised stakes. 64.72 million shares or 4.64% less from 67.87 million shares in 2017Q2 were reported. Gotham Asset Mgmt Ltd Liability Co invested in 0.01% or 160,594 shares. Gabelli Funds Limited Company, a New York-based fund reported 225,000 shares. Nationwide Fund Advisors reported 337,647 shares. Spark Invest Management Ltd Liability holds 277,400 shares. American Inc holds 54,235 shares. Quantbot Technology Limited Partnership invested 0% of its portfolio in Pier 1 Imports, Inc. (NYSE:PIR). Barrow Hanley Mewhinney Strauss Llc holds 0% of its portfolio in Pier 1 Imports, Inc. (NYSE:PIR) for 485,616 shares. Jefferies Grp Ltd invested in 0% or 29,464 shares. Great West Life Assurance Can holds 10,799 shares. Panagora Asset Mgmt Incorporated reported 61,127 shares stake. Renaissance Technologies Ltd Co holds 809,600 shares or 0% of its portfolio. Bank & Trust Of New York Mellon, a New York-based fund reported 1.08M shares. Deutsche Bank Ag invested in 0% or 315,071 shares. Smithfield Communication invested in 515 shares or 0% of the stock. Macquarie Group Ltd invested in 90,100 shares.

Since February 15, 2018, it had 2 insider buys, and 0 insider sales for $22,700 activity.

Towle & Co increased its stake in Pier 1 Imports Inc (NYSE:PIR) by 216.88% based on its latest 2017Q4 regulatory filing with the SEC. Towle & Co bought 3.35M shares as the company’s stock declined 23.88% while stock markets rallied. The institutional investor held 4.90 million shares of the consumer services company at the end of 2017Q4, valued at $20.29M, up from 1.55M at the end of the previous reported quarter. Towle & Co who had been investing in Pier 1 Imports Inc for a number of months, seems to be bullish on the $261.72 million market cap company. The stock decreased 1.57% or $0.05 during the last trading session, reaching $3.14. About 1.51 million shares traded. Pier 1 Imports, Inc. (NYSE:PIR) has declined 2.95% since February 23, 2017 and is downtrending. It has underperformed by 19.65% the S&P500.

Towle & Co is a Missouri-based institutional investor with more than $544.94 million AUM in March, 2014. Taken from Towle & latest Adv, the fund reported to have 8 full and part-time employees. Among which 5 performing investment advisory and research functions. The institutional investor had between 26-100 clients.

Pier 1 Imports, Inc. (NYSE:PIR) Ratings Coverage

Among 22 analysts covering Pier 1 Imports (NYSE:PIR), 5 have Buy rating, 6 Sell and 11 Hold. Therefore 23% are positive. Pier 1 Imports had 52 analyst reports since August 25, 2015 according to SRatingsIntel. As per Friday, April 28, the company rating was initiated by Citigroup. The firm has “Reduce” rating by Gordon Haskett given on Tuesday, May 9. Deutsche Bank downgraded Pier 1 Imports, Inc. (NYSE:PIR) rating on Thursday, December 17. Deutsche Bank has “Sell” rating and $3.50 target. Credit Suisse maintained Pier 1 Imports, Inc. (NYSE:PIR) on Thursday, September 28 with “Underperform” rating. Oppenheimer maintained Pier 1 Imports, Inc. (NYSE:PIR) on Thursday, June 29 with “Hold” rating. The firm has “Market Perform” rating given on Thursday, December 15 by Telsey Advisory Group. Raymond James downgraded the shares of PIR in report on Thursday, September 8 to “Mkt Perform” rating. Jefferies maintained Pier 1 Imports, Inc. (NYSE:PIR) rating on Thursday, June 22. Jefferies has “Hold” rating and $7.2500 target. As per Wednesday, December 13, the company rating was maintained by Jefferies. Telsey Advisory Group maintained the stock with “Market Perform” rating in Thursday, June 29 report.

Pier 1 Imports, Inc. engages in the retail sale of decorative accessories, furniture, candles, housewares, gifts, and seasonal products. The company has market cap of $261.72 million. It offers decorative accents and textiles, such as rugs, wall decorations and mirrors, pillows, bedding, lamps, vases, dried and artificial flowers, baskets, ceramics, dinnerware, candles, fragrances, gifts, and seasonal items; and furniture and furniture cushions that are used in living, dining, office, kitchen and bedroom areas, sunrooms, and patios. It has a 10.9 P/E ratio. As of February 25, 2017, the Company operated 941 stores in the United States and 77 stores in Canada It also operates e-Commerce Website, pier1.com.

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