Verition Fund Management LLC Makes New Investment in Big Lots, Inc. (NYSE:BIG)

Verition Fund Management LLC acquired a new position in shares of Big Lots, Inc. (NYSE:BIG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,995 shares of the company’s stock, valued at approximately $252,000.

A number of other institutional investors have also recently made changes to their positions in BIG. First Trust Advisors LP boosted its stake in shares of Big Lots by 4.4% in the 2nd quarter. First Trust Advisors LP now owns 100,145 shares of the company’s stock valued at $4,206,000 after purchasing an additional 4,252 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Big Lots by 3.5% in the 1st quarter. New York State Common Retirement Fund now owns 263,782 shares of the company’s stock valued at $3,751,000 after purchasing an additional 9,000 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Big Lots in the 2nd quarter valued at approximately $661,000. Tower Research Capital LLC TRC boosted its stake in shares of Big Lots by 9,773.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 19,352 shares of the company’s stock valued at $275,000 after purchasing an additional 19,156 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Big Lots in the 1st quarter valued at approximately $142,000.

BIG has been the topic of a number of research analyst reports. Barclays raised their price target on shares of Big Lots from $34.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 31st. Zacks Investment Research downgraded shares of Big Lots from a “strong-buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a research report on Wednesday, July 29th. Loop Capital lifted their target price on shares of Big Lots from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. Piper Sandler lifted their target price on shares of Big Lots from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 17th. Finally, Cfra lifted their target price on shares of Big Lots from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $44.25.

Big Lots stock opened at $47.74 on Wednesday. The firm has a 50 day moving average price of $46.92 and a two-hundred day moving average price of $32.27. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 2.62, a PEG ratio of 0.98 and a beta of 2.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.91 and a current ratio of 1.58. Big Lots, Inc. has a 52-week low of $10.13 and a 52-week high of $57.24.

Big Lots (NYSE:BIG) last issued its quarterly earnings results on Friday, August 28th. The company reported $2.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.05. Big Lots had a net margin of 12.32% and a return on equity of 25.78%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm earned $0.53 EPS. The firm’s quarterly revenue was up 31.3% on a year-over-year basis. As a group, equities research analysts predict that Big Lots, Inc. will post 6.81 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a $0.30 dividend. The ex-dividend date is Thursday, September 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.51%. Big Lots’s payout ratio is 32.70%.

In other Big Lots news, EVP Lisa M. Bachmann sold 30,206 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $41.31, for a total transaction of $1,247,809.86. Also, EVP Lisa M. Bachmann sold 19,352 shares of the stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $42.36, for a total value of $819,750.72. Following the transaction, the executive vice president now owns 111,034 shares in the company, valued at approximately $4,703,400.24. The disclosure for this sale can be found here. Insiders sold 49,958 shares of company stock worth $2,084,453 in the last 90 days. Company insiders own 0.88% of the company’s stock.

About Big Lots

Big Lots, Inc, through its subsidiaries, operates as a retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattress, case goods, and ready-to-assemble departments; seasonal category, which comprises Christmas trim, lawn and garden, summer, and other holiday departments; soft home category that consists of fashion and utility bedding, bath, window, decorative textile, home organization, area rugs, home d├ęcor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.

Read More: Retained Earnings

Institutional Ownership by Quarter for Big Lots (NYSE:BIG)

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