Barnes & Noble shares up as FMR takes 10 percent stake

Tue Feb 14, 2012 4:58pm EST

(Reuters) - Shares in Barnes Inc (BKS.N) rose over 9 percent on Tuesday as investment firm FMR LLC FMRCO.UL disclosed in a regulatory filing that it took a 10 percent stake in the bookstore chain in recent weeks.

FMR, the parent of Fidelity Investments, now owns 6 million Barnes & Noble shares, according to a disclosure filed on Tuesday with the U.S. Securities and Exchange Commission.

That makes FMR Barnes & Noble's third-largest investor after founder and chairman Leonard Riggio, who owns 29.8 percent of the company, and billionaire investor Ron Burkle's Yucaipa Companies which owns 19.8 percent, according to Thomson Reuters data.

Dimensional Fund Advisors, in a separate filing, disclosed it bought 791,194 shares of Barnes & Noble recently, raising its stake to 5.5 percent from 4.1 percent.

Barnes & Noble, which last month said it was considering spinning its Nook digital books and reading devices business off, is set to report quarterly results next Tuesday.

Barnes & Noble shares closed up $1.23, or 9.3 percent higher, at $14.49.

(Reporting By Phil Wahba; Editing by Tim Dobbyn)