Burlington Stores Inc. (BURL) Insider Eric Seeger Sells 20,948 Shares
Burlington Stores Inc. (NYSE:BURL) insider Eric Seeger sold 20,948 shares of Burlington Stores stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $79.74, for a total transaction of $1,670,393.52. Following the sale, the insider now owns 38,905 shares in the company, valued at $3,102,284.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Burlington Stores Inc. (NYSE:BURL) opened at 81.39 on Friday. The stock has a market cap of $5.75 billion, a PE ratio of 34.86 and a beta of 0.39. Burlington Stores Inc. has a 1-year low of $39.40 and a 1-year high of $87.23. The firm’s 50-day moving average price is $81.79 and its 200 day moving average price is $67.79.
Burlington Stores (NYSE:BURL) last issued its earnings results on Thursday, August 25th. The company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.09. Burlington Stores had a negative return on equity of 183.69% and a net margin of 3.22%. The company earned $1.26 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the company posted $0.19 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts expect that Burlington Stores Inc. will post $2.98 EPS for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of BURL. Fiera Capital Corp acquired a new position in shares of Burlington Stores during the second quarter valued at approximately $80,654,000. Samlyn Capital LLC acquired a new position in shares of Burlington Stores during the first quarter valued at approximately $62,691,000. Adage Capital Partners GP L.L.C. increased its position in shares of Burlington Stores by 50.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 3,031,434 shares of the company’s stock valued at $170,488,000 after buying an additional 1,016,120 shares in the last quarter. Laurion Capital Management LP increased its position in shares of Burlington Stores by 155.1% in the second quarter. Laurion Capital Management LP now owns 126,699 shares of the company’s stock valued at $8,452,000 after buying an additional 356,699 shares in the last quarter. Finally, Credit Suisse AG increased its position in shares of Burlington Stores by 155.4% in the second quarter. Credit Suisse AG now owns 99,683 shares of the company’s stock valued at $6,651,000 after buying an additional 279,557 shares in the last quarter.
BURL has been the topic of a number of recent analyst reports. MKM Partners upgraded shares of Burlington Stores from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $73.00 to $94.00 in a research note on Friday, August 26th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $84.00 price target on shares of Burlington Stores in a research report on Monday, August 1st. Buckingham Research boosted their price target on shares of Burlington Stores from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, August 26th. Morgan Stanley reiterated a “buy” rating and issued a $82.00 price target on shares of Burlington Stores in a research report on Friday, August 26th. Finally, Bank of America Corp. reiterated a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of Burlington Stores in a research report on Monday, September 26th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $85.18.
About Burlington Stores
Burlington Stores, Inc is a retailer of branded apparel. The Company has approximately 570 stores, inclusive of an Internet store, in over 45 states of the United States and Puerto Rico, and diversified its product categories by offering a selection of in-season, fashion-focused merchandise, including: women’s ready-to-wear apparel, menswear, youth apparel, baby, footwear, accessories, home and coats.
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