BCK Capital Management LP Acquires New Holdings in Plantronics, Inc. (NYSE:POLY)

BCK Capital Management LP acquired a new stake in Plantronics, Inc. (NYSE:POLYGet Rating) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 34,000 shares of the company’s stock, valued at approximately $1,340,000. BCK Capital Management LP owned about 0.08% of Plantronics as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Primecap Management Co. CA acquired a new position in Plantronics during the 4th quarter valued at about $185,870,000. Disciplined Growth Investors Inc. MN acquired a new position in Plantronics during the 4th quarter valued at about $75,147,000. Schroder Investment Management Group acquired a new position in Plantronics during the 4th quarter valued at about $34,325,000. Invesco Ltd. acquired a new position in Plantronics during the 4th quarter valued at about $31,415,000. Finally, Marshall Wace LLP acquired a new position in Plantronics during the 4th quarter valued at about $23,222,000. 88.85% of the stock is currently owned by institutional investors.

Plantronics Trading Up 0.0 %

NYSE:POLY opened at $39.79 on Thursday. Plantronics, Inc. has a 12 month low of $22.69 and a 12 month high of $40.82. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 113.69 and a beta of 1.67. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 74.41. The company’s 50 day moving average is $39.66 and its 200-day moving average is $34.99.

Plantronics (NYSE:POLYGet Rating) last released its quarterly earnings results on Friday, May 27th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). Plantronics had a net margin of 1.07% and a negative return on equity of 311.62%. The firm had revenue of $421.00 million during the quarter, compared to the consensus estimate of $423.51 million. Plantronics’s revenue for the quarter was down 11.9% compared to the same quarter last year. Equities analysts anticipate that Plantronics, Inc. will post 2.28 EPS for the current year.

Insider Buying and Selling at Plantronics

In other news, Director Guido Jouret sold 800 shares of the business’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $39.35, for a total value of $31,480.00. Following the sale, the director now owns 21,226 shares in the company, valued at approximately $835,243.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on POLY shares. TheStreet raised shares of Plantronics from a “d+” rating to a “c-” rating in a research note on Friday, April 22nd. StockNews.com started coverage on shares of Plantronics in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Plantronics currently has an average rating of “Hold” and a consensus target price of $35.00.

About Plantronics

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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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Institutional Ownership by Quarter for Plantronics (NYSE:POLY)

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