Short Interest in Big Lots, Inc. (BIG) Decreases By 17.5%

Big Lots, Inc. (NYSE:BIG) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 10,236,819 shares, a decline of 17.5% from the July 13th total of 12,414,558 shares. Based on an average daily volume of 1,171,849 shares, the days-to-cover ratio is currently 8.7 days. Currently, 25.6% of the company’s shares are sold short.

BIG has been the subject of a number of analyst reports. Citigroup initiated coverage on Big Lots in a report on Friday, July 6th. They issued a “buy” rating for the company. Zacks Investment Research upgraded Big Lots from a “strong sell” rating to a “hold” rating and set a $51.00 price target for the company in a report on Wednesday, August 1st. JPMorgan Chase & Co. decreased their price target on Big Lots from $44.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, June 4th. Telsey Advisory Group decreased their price target on Big Lots from $49.00 to $42.00 and set a “market perform” rating for the company in a report on Monday, June 4th. Finally, TheStreet upgraded Big Lots from a “c+” rating to a “b-” rating in a report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Big Lots currently has a consensus rating of “Hold” and an average target price of $51.50.

In other news, SVP Ronald A. Robins, Jr. sold 5,000 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $46.00, for a total transaction of $230,000.00. Following the completion of the sale, the senior vice president now owns 14,545 shares in the company, valued at approximately $669,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Allen Schlonsky sold 6,000 shares of the business’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $45.00, for a total value of $270,000.00. Following the sale, the executive vice president now owns 34,315 shares of the company’s stock, valued at approximately $1,544,175. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of Big Lots by 1.8% in the 2nd quarter. BlackRock Inc. now owns 5,110,859 shares of the company’s stock valued at $213,532,000 after purchasing an additional 90,820 shares in the last quarter. LSV Asset Management raised its position in shares of Big Lots by 13.8% in the 2nd quarter. LSV Asset Management now owns 2,563,773 shares of the company’s stock valued at $107,114,000 after purchasing an additional 310,800 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Big Lots by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,594,589 shares of the company’s stock valued at $66,623,000 after purchasing an additional 132,458 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Big Lots by 14.9% in the 1st quarter. Nuveen Asset Management LLC now owns 965,405 shares of the company’s stock valued at $42,024,000 after purchasing an additional 125,248 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Big Lots by 1.0% in the 1st quarter. Northern Trust Corp now owns 858,767 shares of the company’s stock valued at $37,381,000 after purchasing an additional 8,399 shares in the last quarter.

Shares of BIG opened at $47.20 on Friday. Big Lots has a 52-week low of $36.20 and a 52-week high of $64.42. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 0.86 and a beta of 1.03. The company has a current ratio of 1.65, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25.

Big Lots (NYSE:BIG) last announced its earnings results on Friday, June 1st. The company reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.24). Big Lots had a net margin of 3.23% and a return on equity of 28.85%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company earned $1.15 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. sell-side analysts expect that Big Lots will post 4.56 earnings per share for the current fiscal year.

Big Lots Company Profile

Big Lots, Inc, through its subsidiaries, operates as a community 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 décor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.

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