Insider Selling: Burlington Stores, Inc. (BURL) CEO Sells 20,000 Shares of Stock
Burlington Stores, Inc. (NYSE:BURL) CEO Thomas Kingsbury sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $111.90, for a total transaction of $2,238,000.00. Following the completion of the transaction, the chief executive officer now directly owns 437,608 shares of the company’s stock, valued at approximately $48,968,335.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Thomas Kingsbury also recently made the following trade(s):
- On Friday, November 10th, Thomas Kingsbury sold 20,000 shares of Burlington Stores stock. The shares were sold at an average price of $98.51, for a total transaction of $1,970,200.00.
- On Tuesday, October 10th, Thomas Kingsbury sold 20,000 shares of Burlington Stores stock. The shares were sold at an average price of $92.29, for a total transaction of $1,845,800.00.
Shares of Burlington Stores, Inc. (BURL) traded down $2.52 during trading hours on Wednesday, reaching $109.62. 1,179,700 shares of the company traded hands, compared to its average volume of 1,085,333. Burlington Stores, Inc. has a 12-month low of $79.07 and a 12-month high of $114.99. The company has a debt-to-equity ratio of -11.71, a current ratio of 1.02 and a quick ratio of 0.22. The firm has a market cap of $7,653.32, a price-to-earnings ratio of 28.53, a P/E/G ratio of 1.50 and a beta of 0.56.
Burlington Stores announced that its Board of Directors has approved a stock buyback program on Thursday, August 24th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of large investors have recently made changes to their positions in the stock. FNY Managed Accounts LLC purchased a new position in Burlington Stores during the 3rd quarter worth $114,000. Advisor Group Inc. grew its position in Burlington Stores by 9.2% during the 2nd 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 position in Burlington Stores during the 3rd quarter worth $143,000. The Manufacturers Life Insurance Company grew its position in Burlington Stores by 10.3% during the 2nd 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 position in Burlington Stores during the 3rd quarter worth $230,000.
A number of equities research analysts have recently weighed in on BURL shares. TheStreet upgraded shares of Burlington Stores from a “c+” rating to a “b-” rating in a report on Monday, November 13th. SunTrust Banks set a $109.00 price objective on shares of Burlington Stores and gave the company a “buy” rating in a report on Monday, October 16th. Deutsche Bank started coverage on shares of Burlington Stores in a report on Thursday, September 14th. They issued a “buy” rating and a $108.00 price objective on the stock. BMO Capital Markets restated a “buy” rating and issued a $115.00 price objective on shares of Burlington Stores in a report on Wednesday, September 13th. Finally, Buckingham Research restated a “buy” rating and issued a $107.00 price objective on shares of Burlington Stores in a report on Thursday, October 19th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Burlington Stores has an average rating of “Buy” and a consensus target price of $110.49.
About Burlington Stores
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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