Cubist Systematic Strategies LLC Sells 11,730 Shares of Big Lots, Inc. (BIG)
Cubist Systematic Strategies LLC lowered its stake in shares of Big Lots, Inc. (NYSE:BIG) by 40.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,093 shares of the company’s stock after selling 11,730 shares during the period. Cubist Systematic Strategies LLC’s holdings in Big Lots were worth $826,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of BIG. IFP Advisors Inc lifted its position in shares of Big Lots by 13.6% during the second quarter. IFP Advisors Inc now owns 2,334 shares of the company’s stock worth $113,000 after acquiring an additional 280 shares in the last quarter. FNY Managed Accounts LLC purchased a new stake in shares of Big Lots during the first quarter worth $123,000. LS Investment Advisors LLC lifted its position in shares of Big Lots by 19.4% during the second quarter. LS Investment Advisors LLC now owns 3,668 shares of the company’s stock worth $177,000 after acquiring an additional 596 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Big Lots by 1.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,945 shares of the company’s stock worth $191,000 after acquiring an additional 68 shares in the last quarter. Finally, BKS Advisors LLC purchased a new stake in shares of Big Lots during the second quarter worth $203,000.
Big Lots, Inc. (BIG) opened at 51.36 on Tuesday. The company has a 50-day moving average price of $50.21 and a 200-day moving average price of $49.21. Big Lots, Inc. has a 1-year low of $42.40 and a 1-year high of $56.54. The company has a market cap of $2.18 billion, a PE ratio of 13.31 and a beta of 0.96.
Big Lots (NYSE:BIG) last announced its quarterly earnings results on Friday, August 25th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.62 by $0.05. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Big Lots had a net margin of 3.31% and a return on equity of 30.32%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 EPS. On average, analysts expect that Big Lots, Inc. will post $4.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Thursday, September 7th. Big Lots’s dividend payout ratio is 26.04%.
In other news, CEO David J. Campisi sold 28,875 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $50.04, for a total transaction of $1,444,905.00. Following the sale, the chief executive officer now directly owns 225,018 shares in the company, valued at approximately $11,259,900.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David J. Campisi sold 96,940 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $53.00, for a total transaction of $5,137,820.00. Following the sale, the chief executive officer now owns 99,203 shares in the company, valued at $5,257,759. The disclosure for this sale can be found here. Insiders have sold a total of 171,517 shares of company stock worth $8,906,771 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.
Several equities research analysts have issued reports on BIG shares. BidaskClub downgraded Big Lots from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Loop Capital set a $64.00 target price on Big Lots and gave the stock a “buy” rating in a research report on Wednesday, August 30th. Zacks Investment Research downgraded Big Lots from a “buy” rating to a “hold” rating in a research report on Friday, September 8th. Deutsche Bank AG upgraded Big Lots from a “hold” rating to a “buy” rating and increased their target price for the stock from $55.00 to $56.00 in a research report on Tuesday, July 25th. Finally, ValuEngine upgraded Big Lots from a “hold” rating to a “buy” rating in a research report on Friday, September 15th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $57.83.
About Big Lots
Big Lots, Inc is a non-traditional, discount retailer operating in the United States. As of January 28, 2017, the Company operated a total of 1,432 stores. The Company operates through the discount retailing segment. As of January 28, 2017, the Company’s stores are located at various states of the United States, such as Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Michigan, Montana, Nevada, Nebraska, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, Texas, Utah and Washington.
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