Highbridge Capital Management LLC Buys 105,236 Shares of Burlington Stores, Inc. (BURL)

Highbridge Capital Management LLC grew its stake in Burlington Stores, Inc. (NYSE:BURL) by 104.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 206,420 shares of the company’s stock after buying an additional 105,236 shares during the quarter. Highbridge Capital Management LLC owned 0.30% of Burlington Stores worth $19,706,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FNY Managed Accounts LLC purchased a new stake in Burlington Stores during the third quarter worth approximately $114,000. Advisor Group Inc. lifted its stake in Burlington Stores by 9.2% during the second quarter. Advisor Group Inc. now owns 1,520 shares of the company’s stock worth $139,000 after purchasing an additional 128 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in Burlington Stores during the third quarter worth approximately $143,000. The Manufacturers Life Insurance Company lifted its stake in Burlington Stores by 10.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,257 shares of the company’s stock worth $208,000 after purchasing an additional 210 shares during the last quarter. Finally, Vident Investment Advisory LLC purchased a new stake in Burlington Stores during the third quarter worth approximately $230,000.

Burlington Stores, Inc. (NYSE:BURL) opened at $112.89 on Monday. The stock has a market capitalization of $7,704.50, a P/E ratio of 28.73, a PEG ratio of 1.51 and a beta of 0.56. The company has a quick ratio of 0.22, a current ratio of 1.02 and a debt-to-equity ratio of -11.71. Burlington Stores, Inc. has a twelve month low of $79.07 and a twelve month high of $114.99.

Burlington Stores (NYSE:BURL) last released its earnings results on Tuesday, November 21st. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.05. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. Burlington Stores had a negative return on equity of 374.86% and a net margin of 4.61%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. sell-side analysts forecast that Burlington Stores, Inc. will post 4.27 EPS for the current year.

Burlington Stores announced that its board has authorized a share buyback plan on Thursday, August 24th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

In related news, CFO Marc Katz sold 11,000 shares of Burlington Stores stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $102.59, for a total value of $1,128,490.00. Following the sale, the chief financial officer now directly owns 124,555 shares in the company, valued at $12,778,097.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $92.29, for a total value of $1,845,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,701 shares of company stock worth $6,632,690. Company insiders own 2.60% of the company’s stock.

BURL has been the subject of several recent analyst reports. Cowen set a $105.00 target price on Burlington Stores and gave the stock a “buy” rating in a research note on Monday, August 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $107.00 price target (up previously from $105.00) on shares of Burlington Stores in a research report on Friday, August 25th. BMO Capital Markets reaffirmed a “buy” rating and set a $115.00 price target on shares of Burlington Stores in a research report on Wednesday, September 13th. Deutsche Bank started coverage on Burlington Stores in a research report on Thursday, September 14th. They set a “buy” rating and a $108.00 price target on the stock. Finally, BidaskClub lowered Burlington Stores from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Burlington Stores has a consensus rating of “Buy” and a consensus price target of $109.49.

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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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Institutional Ownership by Quarter for Burlington Stores (NYSE:BURL)

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