Monarch Partners Asset Management LLC bought a new stake in Burlington Stores, Inc. (NYSE:BURL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 122,860 shares of the company’s stock, valued at approximately $11,728,000. Burlington Stores accounts for approximately 1.1% of Monarch Partners Asset Management LLC’s investment portfolio, making the stock its 26th biggest holding. Monarch Partners Asset Management LLC owned 0.18% of Burlington Stores as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BURL. Advisor Group Inc. raised its position in Burlington Stores by 9.2% in the second quarter. Advisor Group Inc. now owns 1,520 shares of the company’s stock valued at $139,000 after purchasing an additional 128 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Burlington Stores by 10.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,257 shares of the company’s stock worth $208,000 after acquiring an additional 210 shares in the last quarter. Gilbert & Cook Inc. acquired a new position in shares of Burlington Stores in the second quarter worth $210,000. Sciencast Management LP acquired a new position in shares of Burlington Stores in the second quarter worth $231,000. Finally, Stephens Inc. AR grew its stake 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 worth $233,000 after acquiring an additional 2,492 shares in the last quarter.
Shares of Burlington Stores, Inc. (BURL) traded up $3.20 during mid-day trading on Monday, hitting $100.97. 486,191 shares of the company were exchanged, compared to its average volume of 952,429. Burlington Stores, Inc. has a 12-month low of $68.94 and a 12-month high of $104.07. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of -13.31. The firm has a market capitalization of $6,743.40, a P/E ratio of 26.21, a P/E/G ratio of 1.33 and a beta of 0.51.
Burlington Stores (NYSE:BURL) last posted its quarterly earnings results on Thursday, August 24th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.22. Burlington Stores had a net margin of 4.46% and a negative return on equity of 330.30%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the business posted $0.39 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. equities analysts expect that Burlington Stores, Inc. will post 4.23 earnings per share for the current fiscal year.
Burlington Stores announced that its Board of Directors has authorized a stock buyback plan on Thursday, August 24th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
BURL has been the subject of several research reports. BidaskClub downgraded shares of Burlington Stores from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Credit Suisse Group downgraded shares of Burlington Stores from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $97.00 to $89.00 in a research note on Wednesday, August 2nd. BMO Capital Markets set a $115.00 price target on shares of Burlington Stores and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Cowen and Company set a $105.00 price target on shares of Burlington Stores and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, Morgan Stanley restated an “overweight” rating and issued a $107.00 price target (up previously from $105.00) on shares of Burlington Stores in a research note on Friday, August 25th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $105.66.
In other news, EVP Joyce Manning Magrini sold 2,400 shares of Burlington Stores stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $95.37, for a total value of $228,888.00. Following the completion of the transaction, the executive vice president now directly owns 46,013 shares of the company’s stock, valued at approximately $4,388,259.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $84.03, for a total transaction of $1,680,600.00. Following the completion of the sale, the chief executive officer now owns 518,008 shares in the company, valued at $43,528,212.24. The disclosure for this sale can be found here. Insiders sold a total of 87,922 shares of company stock valued at $7,763,150 over the last ninety days. Company insiders own 2.60% of the company’s stock.
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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