Big 5 Sporting Goods Corporation (BGFV) Stock Price Down 13%

Big 5 Sporting Goods Corporation (NASDAQ:BGFV)’s share price traded down 13% during mid-day trading on Wednesday . The company traded as low as $6.25 and last traded at $7.18. 1,241,207 shares changed hands during trading, an increase of 29% from the average session volume of 964,980 shares. The stock had previously closed at $6.35.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Big 5 Sporting Goods Corporation from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, July 4th. Deutsche Bank AG cut shares of Big 5 Sporting Goods Corporation from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $20.00 to $10.00 in a research report on Wednesday, August 2nd. TheStreet cut shares of Big 5 Sporting Goods Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, August 9th. Forward View reiterated a “hold” rating and set a $8.00 price objective on shares of Big 5 Sporting Goods Corporation in a research report on Sunday, September 3rd. Finally, ValuEngine cut shares of Big 5 Sporting Goods Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $9.00.

Big 5 Sporting Goods Corporation (NASDAQ:BGFV) last announced its earnings results on Tuesday, October 31st. The company reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. The business had revenue of $270.47 million for the quarter, compared to the consensus estimate of $272.27 million. Big 5 Sporting Goods Corporation had a net margin of 2.30% and a return on equity of 11.86%. Big 5 Sporting Goods Corporation’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm posted $0.38 earnings per share.

In related news, Director Van B. Honeycutt bought 48,000 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average cost of $7.71 per share, with a total value of $370,080.00. Following the completion of the purchase, the director now directly owns 18,600 shares of the company’s stock, valued at approximately $143,406. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA raised its stake in shares of Big 5 Sporting Goods Corporation by 45.4% during the second quarter. BNP Paribas Arbitrage SA now owns 7,954 shares of the company’s stock worth $104,000 after acquiring an additional 2,482 shares in the last quarter. Alliancebernstein L.P. purchased a new position in shares of Big 5 Sporting Goods Corporation during the second quarter worth approximately $133,000. Fox Run Management L.L.C. purchased a new position in shares of Big 5 Sporting Goods Corporation during the second quarter worth approximately $147,000. Atria Investments LLC purchased a new position in shares of Big 5 Sporting Goods Corporation during the second quarter worth approximately $164,000. Finally, Texas Permanent School Fund raised its stake in shares of Big 5 Sporting Goods Corporation by 1.4% during the second quarter. Texas Permanent School Fund now owns 13,102 shares of the company’s stock worth $171,000 after acquiring an additional 185 shares in the last quarter.

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About Big 5 Sporting Goods Corporation

Big 5 Sporting Goods Corporation is a sporting goods retailer in the western United States. The Company offers a range of products in a sporting goods store format. The Company also offers products online through its e-commerce platform. The Company’s product mix includes athletic shoes, apparel and accessories, as well as a range of outdoor and athletic equipment for team sports, fitness, camping, hunting, fishing, tennis, golf, winter and summer recreation, and roller sports.

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