PIR - Pier 1 Imports Inc - Page 22

Zoom zoom

Did u pick up even more shares at those end of the world prices? Conveniently a dime above the 200 day and also sitting hard on a bottom trendline support most of yesterday. Nice.

I did, but it was a net shedding of shares. I bought a TON of them at the low, but this morning when it hit 6.65 or so I got rid of an equal amount of them for a quick 8% gain. Basically I just used it as an opportunity to average down my exposure, since those first shares I bought on this latest binge @ $7+ were starting to sting a little.

Yeah with your large holding in PIR I would have played it the same way, I had few enough I could just jump out, rinse and repeat instead. Nice timing though.

Heh, at one point I was up to almost 400,000 shares. I actually held more of the company than some of their C level executives.

Two very interesting pieces of news, especially when you combine them...

From my newsfeed (no link):

Shares of Pier 1 Imports Inc. (NYSE: PIR) are seeing strong upside action following yesterday's annual meeting and

vague takeover speculation today.

Shares are up 6.7 percent to $6.52 today after dropping 5.6 percent yesterday. The stock is down 19 percent since reporting strong Q1 results on June 17. The 52-week range is $1.77-$9.81.

At the annual meeting the company indicated that shoppers are coming back to their stores and they have emerged from the recession "stronger and fitter." The CEO also boasted about the company being nearly debt-free with cash in the bank.

In the June report, Pier 1 Imports reported first-quarter earnings of $7.7 million or 7 cents per share, well above the consensus of a 2 cent loss. Revenue was $306.3 million, basically in-line with the consensus.

News Provided by Acquire Media Corporation And this:

http://sumfolio.com/top-3-stocks-wit...er-buying-675/

Excerpt:

Pier 1 Imports, Inc. (PIR, Free Analysis), a provider of home furnishings and décor through a network of retail locations, saw

significant open market insider purchasing by Senior Vice President of Planning and Allocations Michael Benkel on June 29, 2010. At an average price of $6.08 per share, the insider purchased $12,160 worth of stock that boosted his company holdings by over five percent.

Pier 1 insiders have a history of making very timely purchases, especially following the economic recession.

and you didn't get a seat on the board?....

Holy circus freakshow Batman! They must have bought the Yo Yo company because that is what PIR's stock is today.

ED: Thanking my stars my stop was far enough below the 200 to not hit.

Yeah, I've decided to not pay any more attention to this stock (or its price) until their Q2 call (which will be awesome)

10-K is out: http://xml.10kwizard.com/filing_raw....&ipage=7039461

Not spectacular, but new shares diluted EPS a bit. Good to see them draw their LT debt down as much as they have.

Hmmm. registering 3.5MM new shares max price 6.12

http://xml.10kwizard.com/filing_raw....&ipage=7039564

I personally think this is the time to buy PIR. Chart is VERY oversold, holding strong 200day MA which is hard to crack when the stock is so oversold

I believe this is a solid buying opportunity down here.

6.30 gives me an opportunity to take some risk off the table, am going to take advantage of it to reduce total holdings a bit as I've gone in heavier than I wanted while keeping myself averaged down.

Yeah I got out four pennies lower, but now am back in again... kicking myself for missing the last tranche while staring at the LOD and my pizza at the same time, bit the pie instead, dang.

Yeah, I had a GTC buy @ $5.80 that triggered on an average down, though I'm still not holding as much as I was beforehand.

It took some work, but I've erased the bad decision to purchase a bunch of these things at $7 a week or so ago, and still have significant holdings, so the ship is righted. And I still maintain that this thing is going to move HARD to the upside once they report Q2, so I've got larger profit ability overall.

PIR has turned into my flipping paradise Q, I can't keep my happy fingers off the sell and buy back buttons. Out today between 6.08-6.12 from a 5.80s avg, then back in at 5.96 I think and out in the 6.teens when it stalled. The only problem is missed profits but by my calculations the rinse and repeat on predictable swings is working well enough for me to overlook the possibility that holding longer might yield more green. It may be that one more trip down below 6.10 will be the last for a while, so this time I'll hold some on the way up, assuming PIR obliges with another dip.

The word "Weeeeeeeeeee!" comes to mind.

She's on her way back up these last couple days, and with authoritah.

6.73. I took this opportunity to unwind some more position. I'm now hugely in the green, and my average entry point per share is under 6 bucks. I'm calling it right now: This thing shoots to 8-8.50 after its Q2 earnings report.

And I'm taking this opportunity to call out more of your BS.

You "claim" to have had $1.7million in this stock above $7 and now you averaged down to under $6...when the stock closed under $6 for exactly 1 day?...

Before you respond, do you have any idea how much stock/$ it would take to average down that much on a position of that size?

Regardless, I think PIR is pretty fair-valued in this market; not really sure any stock will be stronger than the market for the next 6 months...

LOL Rowdy you are missing multiple pieces of info. Not worth getting into it since I'm not Q but suffice it to say his avg IIRC was 6.36 when this was on the way down and knowing when and where he bought 3-4 tranches more of this stuff and sold some other shares to lighten the load, his statement is very realistic IMO.