Burlington Stores, Inc. (BURL) Shares Sold by Clinton Group Inc.
Clinton Group Inc. cut its stake in shares of Burlington Stores, Inc. (NYSE:BURL) by 20.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,776 shares of the company’s stock after selling 5,501 shares during the period. Clinton Group Inc.’s holdings in Burlington Stores were worth $1,911,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Advisor Group Inc. lifted its holdings in shares of Burlington Stores by 9.2% during the second quarter. Advisor Group Inc. now owns 1,520 shares of the company’s stock worth $139,000 after buying an additional 128 shares in the last quarter. Laurion Capital Management LP bought a new stake in shares of Burlington Stores in the first quarter valued at about $204,000. Gilbert & Cook Inc. bought a new stake in shares of Burlington Stores in the second quarter valued at about $210,000. Stephens Inc. AR boosted its position in shares of Burlington Stores by 6,389.7% in the second quarter. Stephens Inc. AR now owns 2,531 shares of the company’s stock valued at $233,000 after acquiring an additional 2,492 shares during the period. Finally, TrimTabs Asset Management LLC boosted its position in shares of Burlington Stores by 103.7% in the second quarter. TrimTabs Asset Management LLC now owns 2,552 shares of the company’s stock valued at $235,000 after acquiring an additional 1,299 shares during the period.
Shares of Burlington Stores, Inc. (NYSE:BURL) traded down 0.31% on Tuesday, reaching $94.39. 30,098 shares of the company’s stock traded hands. The company’s 50-day moving average price is $88.20 and its 200 day moving average price is $92.26. Burlington Stores, Inc. has a one year low of $68.94 and a one year high of $104.07. The firm has a market cap of $6.43 billion, a P/E ratio of 26.07 and a beta of 0.53.
Burlington Stores (NYSE:BURL) last issued its quarterly earnings data on Thursday, August 24th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.22. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Burlington Stores had a negative return on equity of 330.30% and a net margin of 4.46%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS. On average, equities analysts forecast that Burlington Stores, Inc. will post $4.20 EPS for the current fiscal year.
Burlington Stores announced that its board has authorized a share buyback program on Thursday, August 24th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
In other news, insider Joyce Manning Magrini sold 3,335 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $88.12, for a total value of $293,880.20. Following the sale, the insider now directly owns 53,949 shares of the company’s stock, valued at $4,753,985.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul Sullivan sold 1,722 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $88.46, for a total transaction of $152,328.12. Following the completion of the sale, the director now directly owns 3,441 shares in the company, valued at $304,390.86. The disclosure for this sale can be found here. Insiders have sold a total of 86,457 shares of company stock valued at $7,520,358 in the last ninety days. Insiders own 2.60% of the company’s stock.
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A number of equities analysts recently commented on BURL shares. Deutsche Bank AG began coverage on shares of Burlington Stores in a research report on Thursday, September 14th. They set a “buy” rating and a $108.00 price target on the stock. TheStreet downgraded shares of Burlington Stores from a “b-” rating to a “c+” rating in a report on Friday, June 23rd. Cowen and Company reissued an “outperform” rating and issued a $110.00 price objective on shares of Burlington Stores in a report on Friday, June 23rd. BidaskClub lowered shares of Burlington Stores from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, BMO Capital Markets set a $115.00 target price on shares of Burlington Stores and gave the stock a “buy” rating in a research report on Thursday, June 8th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $105.75.
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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