5,500 Shares in Plantronics, Inc. (NYSE:POLY) Acquired by Everence Capital Management Inc.

Everence Capital Management Inc. purchased a new position in shares of Plantronics, Inc. (NYSE:POLY – Get Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,500 shares of the company’s stock, valued at approximately $217,000.

Other large investors have also recently added to or reduced their stakes in the company. Rational Advisors LLC purchased a new position in Plantronics during the 4th quarter worth approximately $25,000. Newbridge Financial Services Group Inc. acquired a new stake in Plantronics during the 4th quarter worth approximately $25,000. Advisor Group Holdings Inc. acquired a new stake in Plantronics during the 4th quarter worth approximately $48,000. Nisa Investment Advisors LLC acquired a new stake in Plantronics during the 4th quarter worth approximately $88,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Plantronics during the 4th quarter worth approximately $126,000. Hedge funds and other institutional investors own 88.85% of the company’s stock.

POLY has been the subject of a number of recent research reports. StockNews.com initiated coverage on Plantronics in a research report on Thursday, March 31st. They set a “hold” rating for the company. JPMorgan Chase & Co. cut Plantronics from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $33.00 to $40.00 in a research report on Tuesday, March 29th. Finally, TheStreet raised Plantronics from a “d+” rating to a “c-” rating in a research report on Friday, April 22nd. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.00.

In related news, Director Guido Jouret sold 800 shares of Plantronics stock in a transaction on Tuesday, May 17th. The stock was 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 directly owns 21,226 shares of the company’s stock, valued at $835,243.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

POLY opened at $39.61 on Thursday. The company has a debt-to-equity ratio of 74.41, a current ratio of 1.54 and a quick ratio of 1.07. The business has a 50 day simple moving average of $39.67 and a 200-day simple moving average of $33.13. The stock has a market capitalization of $1.73 billion, a P/E ratio of 113.17 and a beta of 1.77. Plantronics, Inc. has a 12 month low of $22.69 and a 12 month high of $43.37.

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

About Plantronics (Get Rating)

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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