Assenagon Asset Management S.A. Reduces Holdings in Burlington Stores, Inc. (NYSE:BURL)

Assenagon Asset Management S.A. trimmed its stake in Burlington Stores, Inc. (NYSE:BURL) by 43.2% in the 1st quarter, HoldingsChannel reports. The firm owned 38,067 shares of the company’s stock after selling 28,936 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Burlington Stores were worth $9,073,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Argonautica Private Wealth Management Inc. lifted its position in shares of Burlington Stores by 1.1% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 3,728 shares of the company’s stock worth $1,063,000 after purchasing an additional 39 shares during the period. IFP Advisors Inc lifted its position in Burlington Stores by 81.6% during the 4th quarter. IFP Advisors Inc now owns 89 shares of the company’s stock valued at $25,000 after acquiring an additional 40 shares during the period. Legacy Capital Wealth Partners LLC lifted its position in Burlington Stores by 4.2% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 1,051 shares of the company’s stock valued at $300,000 after acquiring an additional 42 shares during the period. SRS Capital Advisors Inc. lifted its position in Burlington Stores by 21.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 269 shares of the company’s stock valued at $77,000 after acquiring an additional 48 shares during the period. Finally, Metis Global Partners LLC lifted its position in Burlington Stores by 5.9% during the 4th quarter. Metis Global Partners LLC now owns 867 shares of the company’s stock valued at $247,000 after acquiring an additional 48 shares during the period.

Insider Activity at Burlington Stores

In related news, CAO Stephen Ferroni sold 450 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $241.39, for a total transaction of $108,625.50. Following the transaction, the chief accounting officer now owns 2,389 shares in the company, valued at $576,680.71. This represents a 15.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Travis Marquette sold 190 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $237.63, for a total transaction of $45,149.70. Following the transaction, the chief operating officer now owns 22,858 shares in the company, valued at approximately $5,431,746.54. This trade represents a 0.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,579 shares of company stock worth $1,338,839 over the last quarter. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Loop Capital lowered their price target on shares of Burlington Stores from $315.00 to $305.00 and set a “buy” rating for the company in a research report on Friday, May 30th. Evercore ISI lowered their price target on shares of Burlington Stores from $345.00 to $310.00 and set an “outperform” rating for the company in a research report on Friday, May 30th. Telsey Advisory Group reissued an “outperform” rating and set a $300.00 price target (down from $340.00) on shares of Burlington Stores in a research report on Thursday, May 29th. Wells Fargo & Company lowered their price target on shares of Burlington Stores from $325.00 to $300.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Finally, Morgan Stanley lowered their price target on shares of Burlington Stores from $297.00 to $269.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Burlington Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $317.43.

Burlington Stores Stock Down 3.6%

Shares of Burlington Stores stock opened at $228.44 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.54 and a current ratio of 1.17. The stock has a market capitalization of $14.41 billion, a PE ratio of 31.29, a price-to-earnings-growth ratio of 1.11 and a beta of 1.65. Burlington Stores, Inc. has a 52-week low of $212.92 and a 52-week high of $298.89. The company has a 50-day simple moving average of $239.39 and a two-hundred day simple moving average of $256.65.

Burlington Stores (NYSE:BURL) last announced its quarterly earnings results on Thursday, May 29th. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.17. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.52 billion. Burlington Stores had a net margin of 4.49% and a return on equity of 47.52%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.35 earnings per share. On average, analysts anticipate that Burlington Stores, Inc. will post 7.93 EPS for the current fiscal year.

About Burlington Stores

Burlington Stores, Inc operates as a retailer of branded merchandise in the United States. The company provides fashion-focused merchandise, including women's ready-to-wear apparel, menswear, youth apparel, footwear, accessories, toys, gifts, and coats, as well as baby, home, and beauty products.