Wealth Enhancement Advisory Services LLC Purchases New Stake in Burlington Stores Inc (BURL)
Wealth Enhancement Advisory Services LLC bought a new stake in Burlington Stores Inc (NYSE:BURL) during the first quarter, Holdings Channel reports. The institutional investor bought 14,880 shares of the company’s stock, valued at approximately $1,436,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BURL. Tower Research Capital LLC TRC increased its position in shares of Burlington Stores by 2.5% in the third quarter. Tower Research Capital LLC TRC now owns 1,290 shares of the company’s stock worth $105,000 after buying an additional 32 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Burlington Stores during the third quarter worth approximately $106,000. Catalyst Capital Advisors LLC bought a new position in shares of Burlington Stores during the third quarter worth approximately $109,000. Frontier Wealth Management LLC bought a new position in shares of Burlington Stores during the fourth quarter worth approximately $200,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Burlington Stores by 12.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,544 shares of the company’s stock worth $206,000 after buying an additional 285 shares during the last quarter.
Burlington Stores Inc (NYSE:BURL) traded up 0.082% during mid-day trading on Tuesday, reaching $91.615. 277,003 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $94.07 and a 200 day moving average price of $85.25. Burlington Stores Inc has a 52-week low of $51.19 and a 52-week high of $98.32. The company has a market cap of $6.36 billion, a PE ratio of 30.437 and a beta of 0.54.
Burlington Stores (NYSE:BURL) last announced its quarterly earnings results on Thursday, March 2nd. The company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.08. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. Burlington Stores had a net margin of 3.48% and a negative return on equity of 193.88%. Burlington Stores’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company posted $1.49 EPS. Equities analysts predict that Burlington Stores Inc will post $3.89 earnings per share for the current fiscal year.
A number of brokerages recently commented on BURL. Wells Fargo & Co reaffirmed an “outperform” rating and set a $103.00 price objective (up from $90.50) on shares of Burlington Stores in a research report on Saturday, March 4th. BMO Capital Markets reaffirmed a “buy” rating on shares of Burlington Stores in a research report on Saturday, March 4th. Vetr downgraded shares of Burlington Stores from a “strong-buy” rating to a “buy” rating and set a $105.25 price objective on the stock. in a research report on Monday, April 10th. Cowen and Company set a $103.00 price objective on shares of Burlington Stores and gave the company a “buy” rating in a research report on Saturday, April 8th. Finally, Royal Bank of Canada boosted their price objective on shares of Burlington Stores from $91.00 to $97.00 and gave the company an “outperform” rating in a research report on Friday, March 3rd. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $96.88.
In related news, VP John Crimmins sold 7,335 shares of the stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $94.20, for a total value of $690,957.00. Following the sale, the vice president now directly owns 17,353 shares in the company, valued at approximately $1,634,652.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas Kingsbury sold 20,000 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $93.00, for a total transaction of $1,860,000.00. Following the completion of the sale, the chief executive officer now owns 571,871 shares in the company, valued at $53,184,003. The disclosure for this sale can be found here. Insiders sold a total of 57,627 shares of company stock worth $5,452,685 over the last quarter. 2.21% of the stock is currently owned by corporate insiders.
About Burlington Stores
Burlington Stores, Inc is a retailer of branded apparel. As of January 28, 2017, the Company operated 592 retail stores, inclusive of an Internet store, in 45 states and Puerto Rico. Its product categories include coats, women, men, juniors, girls, boys, shoes, handbags and accessories, beauty and fragrance, home and toys.
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