Burlington Stores, Inc. (BURL) Shares Sold by Marshall Wace North America L.P.
Marshall Wace North America L.P. reduced its holdings in Burlington Stores, Inc. (NYSE:BURL) by 15.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,387 shares of the company’s stock after selling 442 shares during the quarter. Marshall Wace North America L.P.’s holdings in Burlington Stores were worth $220,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of BURL. Laurion Capital Management LP acquired a new stake in Burlington Stores in the first quarter valued at approximately $204,000. Gilbert & Cook Inc. acquired a new stake in Burlington Stores in the second quarter valued at approximately $210,000. Massachusetts Financial Services Co. MA acquired a new stake in Burlington Stores in the first quarter valued at approximately $241,000. Fox Run Management L.L.C. acquired a new stake in Burlington Stores in the second quarter valued at approximately $248,000. Finally, M&T Bank Corp grew its stake in Burlington Stores by 1.5% in the first quarter. M&T Bank Corp now owns 2,583 shares of the company’s stock valued at $252,000 after acquiring an additional 37 shares during the period.
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A number of equities research analysts have commented on the company. BidaskClub cut Burlington Stores from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Cowen and Company reaffirmed an “outperform” rating and set a $110.00 target price on shares of Burlington Stores in a research report on Friday, June 23rd. Morgan Stanley cut their target price on Burlington Stores from $105.00 to $98.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 30th. Zacks Investment Research raised Burlington Stores from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research report on Friday, June 2nd. Finally, Citigroup Inc. cut their target price on Burlington Stores from $100.00 to $94.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 30th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $105.75.
In other news, insider Joyce Manning Magrini sold 3,333 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $93.05, for a total value of $310,135.65. Following the transaction, the insider now directly owns 56,882 shares in the company, valued at approximately $5,292,870.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas Kingsbury sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $84.03, for a total value of $1,680,600.00. Following the completion of the transaction, the chief executive officer now owns 518,008 shares in the company, valued at $43,528,212.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,790 shares of company stock worth $7,830,494. Company insiders own 2.60% of the company’s stock.
Burlington Stores, Inc. (NYSE:BURL) opened at 90.13 on Friday. The firm has a 50-day moving average price of $86.38 and a 200 day moving average price of $92.42. Burlington Stores, Inc. has a 52-week low of $68.94 and a 52-week high of $104.07. The stock has a market cap of $6.14 billion, a PE ratio of 24.90 and a beta of 0.51.
Burlington Stores (NYSE:BURL) last issued its earnings results on Thursday, August 24th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.50 by $0.22. Burlington Stores had a negative return on equity of 330.30% and a net margin of 4.46%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the business posted $0.39 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. On average, analysts forecast that Burlington Stores, Inc. will post $4.20 earnings per share for the current fiscal year.
Burlington Stores declared that its board has initiated a share buyback program on Thursday, August 24th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
Burlington Stores Company Profile
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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