Essendant Inc (ESND) Stake Lessened by Russell Investments Group Ltd.
Russell Investments Group Ltd. lowered its position in Essendant Inc (NASDAQ:ESND) by 55.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 53,882 shares of the company’s stock after selling 66,580 shares during the period. Russell Investments Group Ltd. owned 0.14% of Essendant worth $709,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of ESND. Smith Asset Management Group LP acquired a new position in shares of Essendant during the 3rd quarter valued at $154,000. Cubist Systematic Strategies LLC acquired a new position in shares of Essendant during the 2nd quarter valued at $179,000. BNP Paribas Arbitrage SA lifted its position in shares of Essendant by 71.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 14,523 shares of the company’s stock valued at $215,000 after acquiring an additional 6,038 shares during the period. Stevens Capital Management LP acquired a new position in shares of Essendant during the 2nd quarter valued at $237,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Essendant during the 3rd quarter valued at $272,000. Hedge funds and other institutional investors own 96.43% of the company’s stock.
A number of research analysts recently issued reports on the stock. ValuEngine downgraded shares of Essendant from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research upgraded shares of Essendant from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, BidaskClub upgraded shares of Essendant from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Five research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus price target of $16.50.
Essendant (NASDAQ:ESND) last announced its quarterly earnings results on Wednesday, October 25th. The company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.30). The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.31 billion. Essendant had a negative net margin of 5.26% and a positive return on equity of 3.20%. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS.
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Essendant Company Profile
Essendant Inc (Essendant) is a wholesale distributor of workplace items. The Company’s product portfolio includes Janitorial, Foodservice and Breakroom Supplies (JanSan), Technology Products, Traditional Office Products, Industrial Supplies, Cut Sheet Paper Products, Automotive Products and Office Furniture.
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