Oregon Public Employees Retirement Fund trimmed its position in shares of Plantronics, Inc. (NYSE:POLY – Get Rating) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,004 shares of the company’s stock after selling 300 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Plantronics were worth $631,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. bought a new position in Plantronics during the fourth quarter valued at about $25,000. Rational Advisors LLC bought a new position in Plantronics during the fourth quarter valued at about $25,000. Advisor Group Holdings Inc. acquired a new stake in shares of Plantronics in the fourth quarter valued at about $48,000. Nisa Investment Advisors LLC acquired a new stake in shares of Plantronics in the fourth quarter valued at about $88,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Plantronics in the fourth quarter valued at about $126,000. 88.85% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on POLY. StockNews.com began coverage on Plantronics in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. TheStreet raised Plantronics from a “d+” rating to a “c-” rating in a research report on Friday, April 22nd. Finally, JPMorgan Chase & Co. downgraded Plantronics from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $33.00 to $40.00 in a research report on Tuesday, March 29th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, Plantronics currently has a consensus rating of “Hold” and a consensus price target of $35.00.
Plantronics Stock Up 0.2 %
POLY stock opened at $39.83 on Friday. Plantronics, Inc. has a twelve month low of $22.69 and a twelve month high of $40.82. The company has a market cap of $1.74 billion, a PE ratio of 113.80 and a beta of 1.67. The business’s 50-day simple moving average is $39.61 and its 200 day simple moving average is $34.43. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 74.41.
Plantronics (NYSE:POLY – Get Rating) last released its earnings results on Friday, May 27th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). The firm had revenue of $421.00 million for the quarter, compared to analyst estimates of $423.51 million. Plantronics had a negative return on equity of 311.62% and a net margin of 1.07%. Plantronics’s revenue was down 11.9% compared to the same quarter last year. On average, research analysts anticipate that Plantronics, Inc. will post 2.28 earnings per share for the current year.
Insiders Place Their Bets
In other Plantronics news, Director Guido Jouret sold 800 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $39.35, for a total transaction of $31,480.00. Following the completion of the transaction, the director now owns 21,226 shares in the company, valued at $835,243.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.
Plantronics, Inc, together with its subsidiaries, designs, manufactures, markets, and sells integrated communications and collaborations solutions for corporate customers, small businesses, and individuals in the United States, Europe, the Middle East, Africa, the Asia Pacific, and rest of the Americas.
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