ARP Americas LLC grew its position in shares of Burlington Stores, Inc. (NYSE:BURL) by 18.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,524 shares of the company’s stock after acquiring an additional 700 shares during the quarter. ARP Americas LLC’s holdings in Burlington Stores were worth $432,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Burlington Stores by 13.3% in the 1st quarter. FMR LLC now owns 565,678 shares of the company’s stock valued at $55,035,000 after buying an additional 66,428 shares during the last quarter. Teachers Advisors LLC boosted its holdings in shares of Burlington Stores by 3.4% in the 1st quarter. Teachers Advisors LLC now owns 262,376 shares of the company’s stock valued at $25,527,000 after buying an additional 8,537 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Burlington Stores in the 1st quarter valued at approximately $274,000. Marshall Wace North America L.P. acquired a new stake in shares of Burlington Stores in the 1st quarter valued at approximately $274,000. Finally, New York State Teachers Retirement System acquired a new stake in shares of Burlington Stores in the 1st quarter valued at approximately $593,000.
Several equities research analysts have recently commented on BURL shares. Deutsche Bank AG started coverage on Burlington Stores in a report on Thursday, September 14th. They issued a “buy” rating and a $108.00 price objective for the company. Morgan Stanley reissued an “overweight” rating and issued a $107.00 price objective (up previously from $105.00) on shares of Burlington Stores in a report on Friday, August 25th. BidaskClub downgraded Burlington Stores from a “buy” rating to a “hold” rating in a report on Monday, July 24th. BMO Capital Markets reissued a “buy” rating and issued a $115.00 price objective on shares of Burlington Stores in a report on Wednesday, September 13th. Finally, Cowen and Company set a $105.00 price objective on Burlington Stores and gave the company a “buy” rating in a report on Monday, August 14th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $105.66.
In other news, CEO Thomas Kingsbury sold 20,000 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $84.03, for a total transaction of $1,680,600.00. Following the transaction, the chief executive officer now owns 518,008 shares of the company’s stock, valued at approximately $43,528,212.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joyce Manning Magrini sold 2,400 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $88.00, for a total value of $211,200.00. Following the transaction, the insider now directly owns 49,914 shares in the company, valued at approximately $4,392,432. The disclosure for this sale can be found here. In the last three months, insiders sold 85,522 shares of company stock worth $7,534,262. Insiders own 2.60% of the company’s stock.
Burlington Stores (NYSE:BURL) last posted its quarterly earnings data on Thursday, August 24th. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.22. Burlington Stores had a negative return on equity of 330.30% and a net margin of 4.46%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis.
Burlington Stores declared that its Board of Directors has approved a share repurchase plan 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 plans are often a sign that the company’s board of directors believes its shares are 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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