JANA Partners Appears to Have Dumped Entire Barnes & Noble Stake

JANA Partners Appears to Have Dumped Entire Barnes & Noble Stake
Image source: Bloomberg Video Screenshot

JANA PARTNERS LLC has just filed a 13F with the Securities and Exchange Comission (SEC), which shows that they now own zero shares in Barnes & Nobles. JANA Partners had previously held 4,114,506 shares of the company as of the previous filling dated June 30th. It is possible that JANA did not sell Barnes & Noble, and side-pocketed it for a new fund launched on August 30th, as shown in the following filing.

JANA Partners Appears to Have Dumped Entire Barnes & Noble Stake

The latest filing shows that Barry Rosenstein’s value hedge funds sold the shares as of August 30th, at a price of approximately $12 a share. JANA had held 7% of the struggling brick & Mortar book store. The hedge fund held 7 million shares, or 12% of Barnes & Noble, Inc. (NYSE:BKS) in April of this year.

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For the 13 weeks ended 28 July 2012, Barnes & Noble, Inc. (NYSE:BKS), Inc. revenues increased 2% to $1.45B. Net loss applicable to common stockholders decreased 20% to $45.2M. Revenues reflect B&N Retail segment increase of 2% to $1.12B, B&N. com segment increase of less than 1% to $192M, Comp.Store-Barnes & Noble, Inc. (NYSE:BKS) Retail increase from -1.6 to 4.6%, Retail Sales-B&N Retail increase of 2% to $1.12B, Value of Online Sales- NOOK increase of less than 1% to $19 M.

Competitors of Barnes & Noble include Books-A-Million, Inc. (NASDAQ:BAMM) and Amazon.com, Inc. (NASDAQ:AMZN)

Shares of Barnes & Noble, Inc. (NYSE:BKS), Inc. were up 1.95% during today’s trading day, closing at $11.52.

JANA Partners is up 11.2%as of June 30th.

(Disclosure: The author of this article has no position in any securities mentioned)

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