Wedge Capital Management L L P NC Lowers Holdings in Big Lots, Inc. (BIG)

Wedge Capital Management L L P NC decreased its stake in Big Lots, Inc. (NYSE:BIG) by 3.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 301,514 shares of the company’s stock after selling 11,309 shares during the period. Wedge Capital Management L L P NC’s holdings in Big Lots were worth $12,600,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in BIG. Guggenheim Capital LLC increased its stake in Big Lots by 2.9% in the first quarter. Guggenheim Capital LLC now owns 63,702 shares of the company’s stock valued at $2,773,000 after purchasing an additional 1,772 shares during the last quarter. Royal Bank of Canada increased its stake in Big Lots by 18.1% in the first quarter. Royal Bank of Canada now owns 112,562 shares of the company’s stock valued at $4,900,000 after purchasing an additional 17,254 shares during the last quarter. Principal Financial Group Inc. increased its stake in Big Lots by 2.8% in the first quarter. Principal Financial Group Inc. now owns 232,097 shares of the company’s stock valued at $10,103,000 after purchasing an additional 6,409 shares during the last quarter. Midas Management Corp purchased a new stake in Big Lots during the second quarter valued at about $2,298,000. Finally, Winslow Asset Management Inc. grew its position in Big Lots by 2.5% during the second quarter. Winslow Asset Management Inc. now owns 62,112 shares of the company’s stock valued at $2,595,000 after acquiring an additional 1,520 shares during the period.

In other news, EVP Lisa M. Bachmann sold 29,733 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $48.85, for a total value of $1,452,457.05. Following the completion of the sale, the executive vice president now owns 61,630 shares of the company’s stock, valued at $3,010,625.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa M. Bachmann sold 7,517 shares of the company’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $48.85, for a total value of $367,205.45. Following the completion of the sale, the executive vice president now directly owns 61,630 shares of the company’s stock, valued at approximately $3,010,625.50. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Shares of NYSE BIG opened at $42.56 on Wednesday. Big Lots, Inc. has a 1-year low of $36.20 and a 1-year high of $64.42. The company has a quick ratio of 0.32, a current ratio of 1.69 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $1.71 billion, a PE ratio of 9.56, a P/E/G ratio of 0.80 and a beta of 0.96.

Big Lots (NYSE:BIG) last issued its earnings results on Friday, August 31st. The company reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.08). Big Lots had a return on equity of 27.83% and a net margin of 3.14%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the company earned $0.67 EPS. Big Lots’s quarterly revenue was up .2% on a year-over-year basis. On average, research analysts anticipate that Big Lots, Inc. will post 4.46 EPS for the current fiscal year.

A number of equities research analysts have issued reports on BIG shares. ValuEngine raised Big Lots from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. Bank of America started coverage on Big Lots in a research report on Monday. They set a “buy” rating and a $56.00 price target for the company. Zacks Investment Research raised Big Lots from a “strong sell” rating to a “hold” rating and set a $51.00 price target for the company in a research report on Wednesday, August 1st. TheStreet raised Big Lots from a “c+” rating to a “b-” rating in a research report on Wednesday, August 8th. Finally, Goldman Sachs Group started coverage on Big Lots in a research report on Thursday, July 19th. They set a “buy” rating and a $47.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $51.73.

ILLEGAL ACTIVITY NOTICE: “Wedge Capital Management L L P NC Lowers Holdings in Big Lots, Inc. (BIG)” was originally published by WKRB News and is the sole property of of WKRB News. If you are viewing this report on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The legal version of this report can be accessed at https://www.wkrb13.com/2018/11/07/wedge-capital-management-l-l-p-nc-lowers-holdings-in-big-lots-inc-big.html.

About Big Lots

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.

Featured Story: Do Tariffs Work?

Want to see what other hedge funds are holding BIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Big Lots, Inc. (NYSE:BIG).

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

Receive News & Ratings for Big Lots Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Big Lots and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply