Pinebridge Investments L.P. cut its stake in shares of Burlington Stores, Inc. (NYSE:BURL) by 34.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,695 shares of the company’s stock after selling 2,505 shares during the quarter. Pinebridge Investments L.P.’s holdings in Burlington Stores were worth $448,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. FNY Managed Accounts LLC purchased a new position in Burlington Stores in the third quarter worth $114,000. Daiwa Securities Group Inc. purchased a new position in Burlington Stores in the third quarter worth $143,000. Advisor Group Inc. raised its position in Burlington Stores by 9.2% in the second quarter. Advisor Group Inc. now owns 1,520 shares of the company’s stock worth $139,000 after acquiring an additional 128 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Burlington Stores by 10.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,257 shares of the company’s stock worth $208,000 after acquiring an additional 210 shares in the last quarter. Finally, Sanders Morris Harris LLC purchased a new position in Burlington Stores in the third quarter worth $239,000.
Several research analysts have issued reports on BURL shares. Cowen set a $105.00 price objective on Burlington Stores and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Zacks Investment Research upgraded Burlington Stores from a “hold” rating to a “buy” rating and set a $114.00 price target for the company in a research report on Monday, November 27th. SunTrust Banks set a $109.00 price target on Burlington Stores and gave the company a “buy” rating in a research report on Monday, October 16th. BMO Capital Markets set a $120.00 price target on Burlington Stores and gave the company a “buy” rating in a research report on Wednesday, November 22nd. Finally, TheStreet upgraded Burlington Stores from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Burlington Stores has a consensus rating of “Buy” and a consensus target price of $110.49.
In related news, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $92.29, for a total transaction of $1,845,800.00. 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 Burlington Stores stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $107.75, for a total value of $258,600.00. Following the sale, the executive vice president now owns 45,014 shares of the company’s stock, valued at approximately $4,850,258.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,701 shares of company stock valued at $6,632,690. 2.60% of the stock is currently owned by company insiders.
Burlington Stores, Inc. (NYSE BURL) traded down $0.75 during trading on Tuesday, reaching $112.14. The company had a trading volume of 866,000 shares, compared to its average volume of 1,084,936. The stock has a market cap of $7,704.50, a PE ratio of 28.73, a PEG ratio of 1.51 and a beta of 0.56. Burlington Stores, Inc. has a 1 year low of $79.07 and a 1 year high of $114.99. The company has a current ratio of 1.02, a quick ratio of 0.22 and a debt-to-equity ratio of -11.71.
Burlington Stores (NYSE:BURL) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Burlington Stores had a negative return on equity of 374.86% and a net margin of 4.61%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 EPS. equities research analysts predict that Burlington Stores, Inc. will post 4.27 EPS for the current fiscal year.
Burlington Stores announced that its board has approved a share repurchase program on Thursday, August 24th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management 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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