Traders Purchase High Volume of Burlington Put Options (BURL)

Burlington (NYSE:BURL) saw unusually large options trading on Wednesday. Stock traders bought 2,386 put options on the company. This represents an increase of 960% compared to the average volume of 225 put options.

NYSE:BURL opened at $136.23 on Thursday. The company has a market capitalization of $9.31 billion, a P/E ratio of 31.17, a PEG ratio of 1.26 and a beta of 0.42. Burlington has a 1-year low of $79.07 and a 1-year high of $142.23. The company has a quick ratio of 0.31, a current ratio of 0.98 and a debt-to-equity ratio of 12.84.

Burlington (NYSE:BURL) last released its earnings results on Thursday, March 8th. The company reported $2.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.09 by $0.08. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.89 billion. Burlington had a negative return on equity of 754.89% and a net margin of 6.31%. Burlington’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 EPS. equities analysts forecast that Burlington will post 5.78 EPS for the current fiscal year.

A number of brokerages recently issued reports on BURL. Zacks Investment Research cut Burlington from a “buy” rating to a “hold” rating in a research note on Tuesday, May 8th. OTR Global began coverage on Burlington in a research note on Tuesday, May 8th. They issued a “positive” rating on the stock. Deutsche Bank began coverage on Burlington in a research note on Monday, April 30th. They issued a “buy” rating and a $156.00 price objective on the stock. SunTrust Banks set a $148.00 price objective on Burlington and gave the company a “buy” rating in a research note on Monday, April 23rd. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $150.00 price objective (up from $146.00) on shares of Burlington in a research note on Wednesday, April 18th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Burlington presently has a consensus rating of “Buy” and a consensus price target of $137.06.

In other news, CEO Thomas Kingsbury sold 20,000 shares of Burlington stock in a transaction on Tuesday, April 10th. The stock was sold at an average price of $137.13, for a total transaction of $2,742,600.00. Following the sale, the chief executive officer now directly owns 355,273 shares in the company, valued at approximately $48,718,586.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joyce Manning Magrini sold 2,500 shares of Burlington stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $134.58, for a total value of $336,450.00. The disclosure for this sale can be found here. Insiders have sold a total of 47,500 shares of company stock worth $6,243,575 over the last quarter. Company insiders own 1.91% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Burlington by 1.9% in the 4th quarter. BlackRock Inc. now owns 2,987,183 shares of the company’s stock worth $367,512,000 after buying an additional 56,769 shares during the last quarter. American Century Companies Inc. lifted its position in Burlington by 78.4% in the 1st quarter. American Century Companies Inc. now owns 2,314,890 shares of the company’s stock worth $308,228,000 after buying an additional 1,017,288 shares during the last quarter. Eagle Asset Management Inc. lifted its position in Burlington by 6.7% in the first quarter. Eagle Asset Management Inc. now owns 1,470,643 shares of the company’s stock valued at $195,816,000 after purchasing an additional 92,097 shares during the last quarter. Victory Capital Management Inc. lifted its position in Burlington by 3.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,353,424 shares of the company’s stock valued at $166,511,000 after purchasing an additional 44,350 shares during the last quarter. Finally, Carillon Tower Advisers Inc. lifted its position in Burlington by 8.6% in the first quarter. Carillon Tower Advisers Inc. now owns 1,080,259 shares of the company’s stock valued at $144,112,000 after purchasing an additional 85,948 shares during the last quarter.

About Burlington

Burlington Stores, Inc is an apparel and home product retailer. Its products include ladies sportswear, menswear, coats, family footwear and youth apparel, as well as baby furniture, accessories, home decor and gifts. The company was founded in 1972 and is headquartered in Burlington, NJ.

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