Eric Seeger Sells 20,948 Shares of Burlington Stores Inc. (BURL) Stock
Burlington Stores Inc. (NYSE:BURL) insider Eric Seeger sold 20,948 shares of Burlington Stores stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $79.74, for a total transaction of $1,670,393.52. Following the transaction, the insider now directly owns 38,905 shares in the company, valued at $3,102,284.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Burlington Stores Inc. (NYSE:BURL) opened at 81.39 on Friday. Burlington Stores Inc. has a 12-month low of $39.40 and a 12-month high of $87.23. The firm’s 50-day moving average is $81.79 and its 200 day moving average is $67.79. The firm has a market cap of $5.75 billion, a PE ratio of 34.86 and a beta of 0.39.
Burlington Stores (NYSE:BURL) last announced its quarterly earnings data on Thursday, August 25th. The company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.09. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. Burlington Stores had a net margin of 3.22% and a negative return on equity of 183.69%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS. Equities research analysts predict that Burlington Stores Inc. will post $2.98 EPS for the current year.
A number of equities analysts have commented on the stock. Citigroup Inc. lifted their target price on shares of Burlington Stores from $75.00 to $87.00 and gave the stock a “neutral” rating in a research note on Friday, August 26th. Cowen and Company lifted their target price on shares of Burlington Stores from $79.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, August 26th. BMO Capital Markets reaffirmed an “outperform” rating and set a $69.00 target price on shares of Burlington Stores in a research note on Wednesday, July 20th. MKM Partners lifted their price target on shares of Burlington Stores from $59.00 to $73.00 and gave the company a “neutral” rating in a research report on Monday, July 25th. Finally, TheStreet upgraded shares of Burlington Stores from a “sell” rating to a “buy” rating in a research report on Monday, October 3rd. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Burlington Stores has an average rating of “Buy” and an average price target of $85.18.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Fiera Capital Corp bought a new position in shares of Burlington Stores during the second quarter valued at $80,654,000. Samlyn Capital LLC bought a new position in shares of Burlington Stores during the first quarter valued at $62,691,000. Adage Capital Partners GP L.L.C. raised its position in shares of Burlington Stores by 50.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 3,031,434 shares of the company’s stock valued at $170,488,000 after buying an additional 1,016,120 shares during the last quarter. Laurion Capital Management LP raised its position in shares of Burlington Stores by 155.1% in the second quarter. Laurion Capital Management LP now owns 126,699 shares of the company’s stock valued at $8,452,000 after buying an additional 356,699 shares during the last quarter. Finally, Credit Suisse AG raised its position in shares of Burlington Stores by 155.4% in the second quarter. Credit Suisse AG now owns 99,683 shares of the company’s stock valued at $6,651,000 after buying an additional 279,557 shares during the last quarter.
About Burlington Stores
Burlington Stores, Inc is a retailer of branded apparel. The Company has approximately 570 stores, inclusive of an Internet store, in over 45 states of the United States and Puerto Rico, and diversified its product categories by offering a selection of in-season, fashion-focused merchandise, including: women’s ready-to-wear apparel, menswear, youth apparel, baby, footwear, accessories, home and coats.
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