Ardevora Asset Management LLP raised its position in shares of Burlington Stores, Inc. (NYSE:BURL) by 1,116.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 402,600 shares of the company’s stock after buying an additional 369,500 shares during the period. Burlington Stores comprises about 1.2% of Ardevora Asset Management LLP’s portfolio, making the stock its 19th largest position. Ardevora Asset Management LLP owned about 0.58% of Burlington Stores worth $37,035,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. TrimTabs Asset Management LLC purchased a new stake in shares of Burlington Stores during the first quarter worth approximately $122,000. CAPROCK Group Inc. purchased a new stake in shares of Burlington Stores during the first quarter worth approximately $202,000. Nine Chapters Capital Management LLC purchased a new stake in shares of Burlington Stores during the first quarter worth approximately $204,000. Laurion Capital Management LP purchased a new stake in shares of Burlington Stores during the first quarter worth approximately $204,000. Finally, ARP Americas LLC purchased a new stake in shares of Burlington Stores during the first quarter worth approximately $210,000.
Burlington Stores, Inc. (BURL) traded up 1.44% during mid-day trading on Friday, reaching $85.01. The company’s stock had a trading volume of 894,653 shares. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 26.38 and a beta of 0.51. The firm has a 50 day moving average price of $87.93 and a 200 day moving average price of $92.11. Burlington Stores, Inc. has a 52-week low of $68.94 and a 52-week high of $104.07.
Burlington Stores (NYSE:BURL) last posted its quarterly earnings results on Thursday, May 25th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.09. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Burlington Stores had a net margin of 4.08% and a negative return on equity of 294.39%. Burlington Stores’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. Equities research analysts anticipate that Burlington Stores, Inc. will post $3.97 earnings per share for the current year.
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A number of brokerages have recently commented on BURL. Bank of America Corporation boosted their price target on Burlington Stores from $110.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, May 30th. Vetr lowered Burlington Stores from a “strong-buy” rating to a “buy” rating and set a $105.25 price target on the stock. in a report on Thursday, April 20th. Cowen and Company boosted their price target on Burlington Stores from $103.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, May 31st. Credit Suisse Group lowered Burlington Stores from an “outperform” rating to a “neutral” rating and cut their price target for the company from $97.00 to $89.00 in a report on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded Burlington Stores from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a report on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Burlington Stores currently has an average rating of “Buy” and a consensus target price of $104.62.
In other Burlington Stores news, insider Joyce Manning Magrini sold 3,335 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $88.12, for a total transaction of $293,880.20. Following the sale, the insider now owns 53,949 shares of the company’s stock, valued at approximately $4,753,985.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Kingsbury sold 20,000 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $88.20, for a total transaction of $1,764,000.00. Following the sale, the chief executive officer now directly owns 538,308 shares in the company, valued at approximately $47,478,765.60. The disclosure for this sale can be found here. Insiders sold a total of 49,168 shares of company stock worth $4,591,891 in the last ninety days. 2.60% of the stock is currently owned by insiders.
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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