Monarch Partners Asset Management LLC Purchases Shares of 94,865 Big Lots, Inc. (BIG)
Monarch Partners Asset Management LLC purchased a new position in shares of Big Lots, Inc. (NYSE:BIG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 94,865 shares of the company’s stock, valued at approximately $4,582,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIG. Huntington National Bank raised 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 valued at $101,000 after buying an additional 972 shares in the last quarter. Advisors Preferred LLC bought a new stake in shares of Big Lots during the first quarter valued at approximately $101,000. Neuburgh Advisers LLC raised its stake 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 raised its stake 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 bought a new stake 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 market cap of $2.22 billion, a PE ratio of 13.65 and a beta of 0.85. The firm’s 50-day moving average is $48.76 and its 200-day moving average is $49.37. Big Lots, Inc. has a 1-year low of $42.40 and a 1-year high of $56.54.
Big Lots (NYSE:BIG) last posted its quarterly earnings data on Friday, May 26th. The company reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.16. Big Lots had a return on equity of 29.88% and a net margin of 3.20%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the company earned $0.82 EPS. The firm’s revenue was down 1.2% compared to the same quarter last year. On average, equities analysts forecast that Big Lots, Inc. will post $4.20 earnings per share for the current fiscal year.
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BIG has been the topic of several research reports. Deutsche Bank AG raised shares of Big Lots from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $56.00 in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of Big Lots from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Tuesday, July 11th. Citigroup Inc. reaffirmed a “buy” rating and issued a $62.00 price objective (up previously 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 objective on shares of Big Lots in a research report on Tuesday, May 30th. Finally, Oppenheimer Holdings, Inc. set a $60.00 price objective on shares of Big Lots and gave the stock a “buy” rating in a research report on Saturday, May 27th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Big Lots currently has an average rating of “Buy” and an average target price of $58.00.
In related news, insider Lisa M. Bachmann sold 40,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 48,089 shares of the company’s stock, valued at approximately $2,452,539. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David J. Campisi sold 28,875 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $50.04, for a total value of $1,444,905.00. Following the transaction, 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. Over the last three months, insiders sold 70,975 shares of company stock valued at $3,593,055. 1.70% of the stock is owned by corporate insiders.
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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