ETRADE Capital Management LLC Buys 1,328 Shares of Burlington Stores, Inc. (BURL)
ETRADE Capital Management LLC increased its stake in Burlington Stores, Inc. (NYSE:BURL) by 26.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,271 shares of the company’s stock after purchasing an additional 1,328 shares during the quarter. ETRADE Capital Management LLC’s holdings in Burlington Stores were worth $577,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in BURL. Laurion Capital Management LP purchased a new stake in Burlington Stores in the 1st quarter worth $204,000. Gilbert & Cook Inc. purchased a new stake in Burlington Stores in the 2nd quarter worth $210,000. Stephens Inc. AR increased its stake in Burlington Stores by 6,389.7% in the 2nd quarter. Stephens Inc. AR now owns 2,531 shares of the company’s stock worth $233,000 after buying an additional 2,492 shares in the last quarter. TrimTabs Asset Management LLC increased its stake in Burlington Stores by 103.7% in the 2nd quarter. TrimTabs Asset Management LLC now owns 2,552 shares of the company’s stock worth $235,000 after buying an additional 1,299 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Burlington Stores in the 1st quarter worth $241,000.
In other news, insider Joyce Manning Magrini sold 3,333 shares of Burlington Stores stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $93.05, for a total value of $310,135.65. Following the sale, the insider now owns 56,882 shares of the company’s stock, valued at $5,292,870.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction dated 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 completion of 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 have sold a total of 89,790 shares of company stock worth $7,830,494 over the last three months. 2.60% of the stock is currently owned by insiders.
A number of equities research analysts have issued reports on BURL shares. Cowen and Company set a $105.00 price target on Burlington Stores and gave the stock a “buy” rating in a research note on Monday, August 14th. BMO Capital Markets set a $115.00 price objective on Burlington Stores and gave the company a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research upgraded Burlington Stores from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research report on Friday, June 2nd. BidaskClub upgraded Burlington Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Deutsche Bank AG began coverage on Burlington Stores in a research report on Thursday, September 14th. They set a “buy” rating and a $108.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $105.75.
Burlington Stores, Inc. (BURL) opened at 94.27 on Thursday. Burlington Stores, Inc. has a 52-week low of $68.94 and a 52-week high of $104.07. The firm has a market capitalization of $6.42 billion, a P/E ratio of 26.04 and a beta of 0.51. The company’s 50-day moving average is $86.55 and its 200-day moving average is $92.38.
Burlington Stores (NYSE:BURL) last issued its quarterly earnings data on Thursday, August 24th. The company reported $0.72 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the firm posted $0.39 EPS. Burlington Stores’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts predict that Burlington Stores, Inc. will post $4.20 EPS for the current year.
Burlington Stores announced that its Board of Directors has approved a stock buyback plan on Thursday, August 24th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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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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