Big Lots, Inc. (NYSE:BIG) Stake Boosted by Foundry Partners LLC
Foundry Partners LLC raised its stake in Big Lots, Inc. (NYSE:BIG) by 9.4% during the second quarter, Holdings Channel reports. The institutional investor owned 147,276 shares of the company’s stock after buying an additional 12,683 shares during the period. Foundry Partners LLC’s holdings in Big Lots were worth $7,113,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Huntington National Bank increased its position 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 valued at $101,000 after buying an additional 972 shares in the last quarter. Advisors Preferred LLC acquired a new position in shares of Big Lots during the first quarter valued at approximately $101,000. Neuburgh Advisers LLC increased its position in shares of Big Lots by 14.3% in the first quarter. Neuburgh Advisers LLC now owns 2,112 shares of the company’s stock valued at $103,000 after buying an additional 264 shares in the last quarter. IFP Advisors Inc increased its position in shares of Big Lots by 13.6% in the second quarter. IFP Advisors Inc now owns 2,334 shares of the company’s stock valued at $113,000 after buying an additional 280 shares in the last quarter. Finally, FNY Managed Accounts LLC acquired a new position in shares of Big Lots during the first quarter valued at approximately $123,000.
Shares of Big Lots, Inc. (NYSE BIG) opened at 50.28 on Friday. The company has a 50-day moving average price of $48.76 and a 200 day moving average price of $49.37. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 13.65 and a beta of 0.85. Big Lots, Inc. has a 52 week low of $42.40 and a 52 week high of $56.54.
Big Lots (NYSE:BIG) last issued its earnings results on Friday, May 26th. The company reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.16. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.31 billion. Big Lots had a return on equity of 29.88% and a net margin of 3.20%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. Analysts expect that Big Lots, Inc. will post $4.20 EPS for the current fiscal year.
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BIG has been the topic of several recent analyst reports. Deutsche Bank AG raised Big Lots from a “hold” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $56.00 in a research report on Tuesday, July 25th. Zacks Investment Research raised Big Lots from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Tuesday, July 11th. Citigroup Inc. reaffirmed a “buy” rating and issued a $62.00 price target (up from $61.00) on shares of Big Lots in a research report on Friday, June 9th. Loop Capital reaffirmed a “buy” rating and issued a $64.00 price target on shares of Big Lots in a research report on Tuesday, May 30th. Finally, Oppenheimer Holdings, Inc. set a $60.00 price target on Big Lots and gave the stock a “buy” rating in a research report on Saturday, May 27th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Big Lots currently has an average rating of “Buy” and an average target price of $58.00.
In other Big Lots news, insider Lisa M. Bachmann sold 40,000 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $51.00, for a total value of $2,040,000.00. Following the sale, the insider now owns 48,089 shares of the company’s stock, valued at approximately $2,452,539. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David J. Campisi sold 28,875 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $50.04, for a total value of $1,444,905.00. Following the completion of the sale, the chief executive officer now directly owns 225,018 shares in the company, valued at approximately $11,259,900.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,975 shares of company stock worth $3,593,055. Company insiders own 1.70% of the company’s stock.
Big Lots Company Profile
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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