Big Lots, Inc. (NYSE:BIG) Stake Boosted by Trexquant Investment LP
Trexquant Investment LP boosted its position in Big Lots, Inc. (NYSE:BIG) by 134.4% during the second quarter, Holdings Channel reports. The firm owned 15,000 shares of the company’s stock after buying an additional 8,600 shares during the period. Trexquant Investment LP’s holdings in Big Lots were worth $724,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of BIG. Sit Investment Associates Inc. increased its stake in shares of Big Lots by 86.1% in the first quarter. Sit Investment Associates Inc. now owns 16,050 shares of the company’s stock worth $781,000 after buying an additional 7,425 shares during the period. Meritage Portfolio Management increased its stake in shares of Big Lots by 96.1% in the first quarter. Meritage Portfolio Management now owns 107,065 shares of the company’s stock worth $5,212,000 after buying an additional 52,470 shares during the period. Sigma Planning Corp purchased a new stake in shares of Big Lots during the first quarter worth $235,000. James Investment Research Inc. increased its stake in shares of Big Lots by 8.1% in the first quarter. James Investment Research Inc. now owns 558,427 shares of the company’s stock worth $27,184,000 after buying an additional 41,966 shares during the period. Finally, Huntington National Bank increased its stake in shares of Big Lots by 88.9% in the first quarter. Huntington National Bank now owns 2,065 shares of the company’s stock worth $101,000 after buying an additional 972 shares during the period.
Big Lots, Inc. (BIG) opened at 50.00 on Friday. The company has a market cap of $2.21 billion, a P/E ratio of 13.58 and a beta of 0.85. The stock’s 50 day moving average is $48.67 and its 200 day moving average is $49.36. Big Lots, Inc. has a 1-year low of $42.40 and a 1-year high of $56.54.
Big Lots (NYSE:BIG) last released its quarterly earnings results on Friday, May 26th. The company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.16. Big Lots had a net margin of 3.20% and a return on equity of 29.88%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company earned $0.82 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts anticipate that Big Lots, Inc. will post $4.20 earnings per share for the current fiscal year.
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A number of brokerages have recently weighed in on BIG. BidaskClub raised shares of Big Lots from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research raised shares of Big Lots from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Friday, July 28th. Loop Capital reaffirmed a “buy” rating and set a $64.00 price target on shares of Big Lots in a report on Tuesday, May 30th. Oppenheimer Holdings, Inc. set a $60.00 price target on shares of Big Lots and gave the stock a “buy” rating in a report on Saturday, May 27th. Finally, ValuEngine downgraded shares of Big Lots from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Big Lots has an average rating of “Buy” and a consensus price target of $58.00.
In other news, Director Russell Solt sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $51.50, for a total value of $108,150.00. Following the completion of the sale, the director now directly owns 10,041 shares in the company, valued at approximately $517,111.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lisa M. Bachmann sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $51.00, for a total transaction of $2,040,000.00. Following the completion of the sale, the insider now owns 48,089 shares of the company’s stock, valued at $2,452,539. The disclosure for this sale can be found here. In the last three months, insiders sold 70,975 shares of company stock valued at $3,593,055. Corporate insiders own 1.70% of the company’s stock.
About Big Lots
Big Lots, Inc is a non-traditional, discount retailer operating in the United States. As of January 28, 2017, the Company operated a total of 1,432 stores. The Company operates through the discount retailing segment. As of January 28, 2017, the Company’s stores are located at various states of the United States, such as Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Michigan, Montana, Nevada, Nebraska, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, Texas, Utah and Washington.
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