Los Angeles Capital Management & Equity Research Inc. reduced its position in Burlington Stores, Inc. (NYSE:BURL) by 3.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 36,908 shares of the company’s stock after selling 1,250 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned 0.05% of Burlington Stores worth $3,523,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in BURL. Balyasny Asset Management LLC grew its holdings in Burlington Stores by 123.3% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,408,518 shares of the company’s stock valued at $129,570,000 after buying an additional 777,645 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Burlington Stores by 23.9% during the second quarter. Voya Investment Management LLC now owns 2,879,622 shares of the company’s stock worth $264,896,000 after purchasing an additional 554,717 shares in the last quarter. Samlyn Capital LLC grew its holdings in shares of Burlington Stores by 89.1% during the second quarter. Samlyn Capital LLC now owns 968,713 shares of the company’s stock worth $89,112,000 after purchasing an additional 456,305 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Burlington Stores by 106.4% during the second quarter. Prudential Financial Inc. now owns 799,810 shares of the company’s stock worth $73,575,000 after purchasing an additional 412,380 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. grew its holdings in shares of Burlington Stores by 582.2% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 483,077 shares of the company’s stock worth $44,438,000 after purchasing an additional 412,262 shares in the last quarter.
In related news, insider Fred Hand sold 3,501 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $102.75, for a total transaction of $359,727.75. Following the sale, the insider now directly owns 71,810 shares of the company’s stock, valued at $7,378,477.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Joyce Manning Magrini sold 2,400 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $107.75, for a total value of $258,600.00. Following the completion of the transaction, the executive vice president now directly owns 45,014 shares in the company, valued at approximately $4,850,258.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,701 shares of company stock worth $9,091,290. Insiders own 2.60% of the company’s stock.
Shares of Burlington Stores, Inc. (NYSE BURL) traded up $1.92 during mid-day trading on Thursday, reaching $110.50. The company had a trading volume of 827,069 shares, compared to its average volume of 1,086,731. The stock has a market capitalization of $7,523.65, a PE ratio of 28.05, a price-to-earnings-growth ratio of 1.48 and a beta of 0.56. Burlington Stores, Inc. has a 12 month low of $79.07 and a 12 month high of $114.99. The company has a debt-to-equity ratio of -11.71, a quick ratio of 0.22 and a current ratio of 1.02.
Burlington Stores (NYSE:BURL) last issued its quarterly earnings results on Tuesday, November 21st. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.05. Burlington Stores had a negative return on equity of 374.86% and a net margin of 4.61%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. equities research analysts predict that Burlington Stores, Inc. will post 4.27 earnings per share for the current year.
Burlington Stores declared that its board has authorized a share repurchase plan on Thursday, August 24th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
BURL has been the subject of several recent analyst reports. Cowen set a $105.00 price objective on Burlington Stores and gave the stock a “buy” rating in a report on Monday, August 14th. Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 target price (up previously from $105.00) on shares of Burlington Stores in a research note on Friday, August 25th. BMO Capital Markets reaffirmed a “buy” rating and issued a $115.00 target price on shares of Burlington Stores in a research note on Wednesday, September 13th. Deutsche Bank started coverage on Burlington Stores in a research note on Thursday, September 14th. They issued a “buy” rating and a $108.00 target price for the company. Finally, BidaskClub lowered Burlington Stores from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Burlington Stores has a consensus rating of “Buy” and a consensus price target of $109.49.
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Burlington Stores 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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