BNP Paribas Arbitrage SA Purchases 24,601 Shares of Burlington Stores, Inc. (BURL)

BNP Paribas Arbitrage SA lifted its position in shares of Burlington Stores, Inc. (NYSE:BURL) by 18.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,285 shares of the company’s stock after buying an additional 24,601 shares during the period. BNP Paribas Arbitrage SA owned about 0.23% of Burlington Stores worth $14,824,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Prudential Financial Inc. boosted its position in shares of Burlington Stores by 106.4% during the second quarter. Prudential Financial Inc. now owns 799,810 shares of the company’s stock worth $73,575,000 after buying an additional 412,380 shares during the period. Old Mutual Global Investors UK Ltd. boosted its position in shares of Burlington Stores by 582.2% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 483,077 shares of the company’s stock worth $44,438,000 after buying an additional 412,262 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Burlington Stores during the second quarter worth about $248,000. Teacher Retirement System of Texas boosted its position in shares of Burlington Stores by 0.7% during the second quarter. Teacher Retirement System of Texas now owns 5,619 shares of the company’s stock worth $517,000 after buying an additional 41 shares during the period. Finally, 1060 Capital LLC acquired a new position in shares of Burlington Stores during the second quarter worth about $27,597,000.

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In other news, CFO Marc Katz sold 11,000 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $87.25, for a total transaction of $959,750.00. Following the transaction, the chief financial officer now owns 124,555 shares in the company, valued at $10,867,423.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas Kingsbury sold 20,000 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $87.81, for a total value of $1,756,200.00. Following the transaction, the chief executive officer now owns 495,308 shares in the company, valued at approximately $43,492,995.48. The disclosure for this sale can be found here. Insiders sold 67,922 shares of company stock worth $6,082,550 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

BURL has been the subject of several recent research reports. Deutsche Bank AG initiated 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. Buckingham Research reissued a “buy” rating and set a $107.00 price target on shares of Burlington Stores in a research report on Thursday, October 19th. Zacks Investment Research raised Burlington Stores from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Wednesday, November 1st. SunTrust Banks, Inc. set a $109.00 price target on Burlington Stores and gave the company a “buy” rating in a research report on Monday, October 16th. Finally, BidaskClub cut Burlington Stores from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $105.96.

Burlington Stores, Inc. (BURL) traded up $1.05 during trading hours on Monday, reaching $99.35. The company’s stock had a trading volume of 223,647 shares, compared to its average volume of 1,077,937. The company has a quick ratio of 0.24, a current ratio of 1.03 and a debt-to-equity ratio of -13.31. The company has a market capitalization of $6,779.95, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 1.33 and a beta of 0.51. Burlington Stores, Inc. has a 12-month low of $71.41 and a 12-month high of $104.07.

Burlington Stores (NYSE:BURL) last released its quarterly earnings data on Thursday, August 24th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.22. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Burlington Stores had a negative return on equity of 330.30% and a net margin of 4.46%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 earnings per share. equities research analysts forecast that Burlington Stores, Inc. will post 4.24 earnings per share for the current fiscal year.

Burlington Stores declared that its Board of Directors has authorized a share buyback program on Thursday, August 24th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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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Institutional Ownership by Quarter for Burlington Stores (NYSE:BURL)

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