Insider Selling: Big Lots, Inc. (BIG) CEO Sells 28,875 Shares of Stock
Big Lots, Inc. (NYSE:BIG) CEO David J. Campisi sold 28,875 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $50.04, for a total value of $1,444,905.00. Following the completion of the transaction, the chief executive officer now directly owns 225,018 shares in the company, valued at $11,259,900.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Big Lots, Inc. (BIG) traded up 2.89% on Thursday, hitting $50.26. The stock had a trading volume of 775,367 shares. The stock has a market capitalization of $2.22 billion, a PE ratio of 13.65 and a beta of 0.85. Big Lots, Inc. has a one year low of $42.40 and a one year high of $56.54. The firm’s 50 day moving average is $48.14 and its 200-day moving average is $49.33.
Big Lots (NYSE:BIG) last released its earnings results on Friday, May 26th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.16. Big Lots had a return on equity of 29.88% and a net margin of 3.20%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. Big Lots’s revenue was down 1.2% on a year-over-year basis. Equities research analysts expect that Big Lots, Inc. will post $4.20 earnings per share for the current fiscal year.
Several research analysts have weighed in on BIG shares. Zacks Investment Research lowered Big Lots from a “buy” rating to a “hold” rating in a research report on Thursday. Citigroup Inc. reaffirmed a “buy” rating and issued a $62.00 target price (up from $61.00) on shares of Big Lots in a research report on Friday, June 9th. BidaskClub lowered Big Lots from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. ValuEngine lowered Big Lots from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Raymond James Financial, Inc. raised Big Lots from a “market perform” rating to a “strong-buy” rating and set a $60.00 target price on the stock in a research report on Wednesday, April 26th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $57.64.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Big Lots by 3,846.5% in the first quarter. BlackRock Inc. now owns 6,101,011 shares of the company’s stock worth $296,996,000 after buying an additional 5,946,417 shares during the period. Vanguard Group Inc. increased its position in shares of Big Lots by 7.2% in the first quarter. Vanguard Group Inc. now owns 5,474,133 shares of the company’s stock worth $266,480,000 after buying an additional 368,464 shares during the period. Wells Fargo & Company MN increased its position in shares of Big Lots by 10.7% in the first quarter. Wells Fargo & Company MN now owns 2,187,917 shares of the company’s stock worth $106,508,000 after buying an additional 211,842 shares during the period. State Street Corp increased its position in shares of Big Lots by 0.8% in the first quarter. State Street Corp now owns 1,611,995 shares of the company’s stock worth $78,474,000 after buying an additional 12,308 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Big Lots by 6.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,471,107 shares of the company’s stock worth $71,614,000 after buying an additional 93,137 shares during the period.
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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