Vident Investment Advisory LLC Acquires Shares of 2,408 Burlington Stores, Inc. (BURL)

Vident Investment Advisory LLC acquired a new position in shares of Burlington Stores, Inc. (NYSE:BURL) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,408 shares of the company’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Prudential Financial Inc. increased its stake in shares of Burlington Stores by 106.4% during the 2nd quarter. Prudential Financial Inc. now owns 799,810 shares of the company’s stock worth $73,575,000 after purchasing an additional 412,380 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its position in 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 acquiring an additional 412,262 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in Burlington Stores during the third quarter worth approximately $18,202,000. 1060 Capital LLC acquired a new stake in Burlington Stores during the second quarter worth approximately $27,597,000. Finally, Zweig DiMenna Associates LLC acquired a new stake in Burlington Stores during the third quarter worth approximately $2,644,000.

In related news, EVP Joyce Manning Magrini sold 2,400 shares of Burlington Stores stock in a transaction on Friday, December 1st. The shares were sold at an average price of $107.75, for a total transaction of $258,600.00. Following the sale, the executive vice president now owns 45,014 shares of the company’s stock, valued at approximately $4,850,258.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $92.29, for a total transaction of $1,845,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 87,701 shares of company stock worth $8,870,690. Insiders own 2.60% of the company’s stock.

A number of brokerages recently issued reports on BURL. Cowen restated a “buy” rating and set a $115.00 target price on shares of Burlington Stores in a research report on Tuesday, November 21st. Telsey Advisory Group raised their target price on shares of Burlington Stores from $110.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 22nd. Zacks Investment Research lowered shares of Burlington Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. BidaskClub upgraded shares of Burlington Stores from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, Royal Bank of Canada restated a “buy” rating and set a $115.00 target price (up previously from $104.00) on shares of Burlington Stores in a research report on Wednesday, November 22nd. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Burlington Stores has a consensus rating of “Buy” and an average target price of $110.49.

Burlington Stores, Inc. (BURL) opened at $117.48 on Thursday. Burlington Stores, Inc. has a one year low of $79.07 and a one year high of $118.99. The company has a quick ratio of 0.22, a current ratio of 1.02 and a debt-to-equity ratio of -11.71. The company has a market cap of $8,049.15, a price-to-earnings ratio of 30.01, a PEG ratio of 1.58 and a beta of 0.56.

Burlington Stores (NYSE:BURL) last issued its earnings results on Tuesday, November 21st. The company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.05. Burlington Stores had a net margin of 4.61% and a negative return on equity of 374.86%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the firm posted $0.51 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. sell-side analysts forecast that Burlington Stores, Inc. will post 4.28 earnings per share for the current year.

Burlington Stores announced that its board has initiated a stock 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. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

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Burlington Stores Company Profile

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.

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

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