Burlington Stores Inc (NYSE:BURL) saw a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 3,375,500 shares, a decline of 9.4% from the May 30th total of 3,726,500 shares. Based on an average trading volume of 1,080,000 shares, the days-to-cover ratio is currently 3.1 days. Approximately 5.1% of the company’s stock are sold short.
In other news, insider Jennifer Vecchio sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $168.90, for a total transaction of $135,120.00. Following the completion of the sale, the insider now owns 42,168 shares in the company, valued at approximately $7,122,175.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Fred Hand sold 6,486 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $166.21, for a total transaction of $1,078,038.06. Following the sale, the insider now owns 62,558 shares of the company’s stock, valued at approximately $10,397,765.18. The disclosure for this sale can be found here. Insiders sold 75,770 shares of company stock valued at $12,312,987 in the last quarter. 1.86% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in shares of Burlington Stores by 5.0% during the fourth quarter. Bank of New York Mellon Corp now owns 374,039 shares of the company’s stock valued at $60,845,000 after acquiring an additional 17,733 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Burlington Stores by 24.9% during the 4th quarter. Northern Trust Corp now owns 407,976 shares of the company’s stock worth $66,365,000 after acquiring an additional 81,462 shares during the last quarter. Nomura Asset Management Co. Ltd. purchased a new position in shares of Burlington Stores during the 4th quarter worth $1,609,000. Hsbc Holdings PLC boosted its stake in shares of Burlington Stores by 3.3% during the 4th quarter. Hsbc Holdings PLC now owns 11,798 shares of the company’s stock worth $1,920,000 after acquiring an additional 381 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Burlington Stores during the 4th quarter worth $2,768,000.
BURL has been the subject of several recent analyst reports. Guggenheim restated a “hold” rating on shares of Burlington Stores in a research report on Thursday, May 30th. Deutsche Bank boosted their price objective on shares of Texas Instruments from $100.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, April 24th. ValuEngine upgraded shares of YPF from a “sell” rating to a “hold” rating in a research report on Monday, June 24th. Robert W. Baird initiated coverage on shares of Burlington Stores in a research report on Tuesday, May 14th. They set an “outperform” rating and a $200.00 price objective for the company. Finally, Loop Capital boosted their price objective on shares of Burlington Stores to $200.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $182.67.
BURL stock traded down $3.24 on Monday, hitting $179.68. The company’s stock had a trading volume of 14,633 shares, compared to its average volume of 721,149. The firm’s 50 day simple moving average is $166.87. Burlington Stores has a 1 year low of $136.30 and a 1 year high of $183.65. The stock has a market capitalization of $12.14 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 1.54 and a beta of 0.27. The company has a current ratio of 0.93, a quick ratio of 0.26 and a debt-to-equity ratio of 11.41.
Burlington Stores (NYSE:BURL) last released its quarterly earnings results on Thursday, May 30th. The company reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. Burlington Stores had a net margin of 6.05% and a return on equity of 186.11%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. Burlington Stores’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts predict that Burlington Stores will post 7 earnings per share for the current fiscal year.
About Burlington Stores
Burlington Stores, Inc operates as a retailer of branded apparel products in the United States. The company offers fashion-focused merchandise, including women's ready-to-wear apparel, accessories, footwear, menswear, youth apparel, coats, toys, and gifts, as well as baby, home, and beauty products.
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