Pier 1 Imports Inc (NYSE:PIR) Short Interest Down 5.4% in June

Pier 1 Imports Inc (NYSE:PIR) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 20,451,800 shares, a drop of 5.4% from the May 15th total of 21,624,300 shares. Based on an average daily volume of 156,100 shares, the days-to-cover ratio is presently 131.0 days. Currently, 25.9% of the shares of the stock are sold short.

A number of large investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. raised its stake in shares of Pier 1 Imports by 38.0% in the first quarter. Oppenheimer & Co. Inc. now owns 77,700 shares of the specialty retailer’s stock worth $59,000 after purchasing an additional 21,400 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Pier 1 Imports by 36.1% in the fourth quarter. Rhumbline Advisers now owns 119,399 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 31,666 shares during the last quarter. SG Americas Securities LLC increased its position in Pier 1 Imports by 1,033.7% during the fourth quarter. SG Americas Securities LLC now owns 130,136 shares of the specialty retailer’s stock valued at $40,000 after acquiring an additional 118,657 shares during the last quarter. Virtu Financial LLC increased its position in Pier 1 Imports by 550.1% during the first quarter. Virtu Financial LLC now owns 137,610 shares of the specialty retailer’s stock valued at $105,000 after acquiring an additional 116,442 shares during the last quarter. Finally, Stone Ridge Asset Management LLC increased its position in Pier 1 Imports by 32.8% during the fourth quarter. Stone Ridge Asset Management LLC now owns 162,991 shares of the specialty retailer’s stock valued at $50,000 after acquiring an additional 40,249 shares during the last quarter.

PIR traded down $0.06 on Friday, hitting $3.84. 410,547 shares of the company were exchanged, compared to its average volume of 319,583. Pier 1 Imports has a 12 month low of $3.80 and a 12 month high of $45.20. The stock’s fifty day moving average price is $4.52. The company has a debt-to-equity ratio of 83.80, a current ratio of 0.97 and a quick ratio of 0.22.

Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings data on Wednesday, June 26th. The specialty retailer reported ($19.97) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($13.00) by ($6.97). Pier 1 Imports had a negative return on equity of 217.70% and a negative net margin of 16.85%. The business had revenue of $314.32 million during the quarter, compared to the consensus estimate of $315.40 million. During the same quarter in the prior year, the business posted ($0.36) earnings per share. As a group, sell-side analysts anticipate that Pier 1 Imports will post -42.58 EPS for the current year.

Several research analysts have commented on the company. Zacks Investment Research downgraded CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Four analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $1.31.

About Pier 1 Imports

Pier 1 Imports, Inc engages in the retail sale of decorative accessories, furniture, candles, housewares, gifts, and seasonal products. 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.

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