OP Asset Management Ltd purchased a new position in Burlington Stores, Inc. (NYSE:BURL – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,485 shares of the company’s stock, valued at approximately $2,110,000.
A number of other large investors also recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise grew its position in shares of Burlington Stores by 4.6% in the first quarter. Banque Cantonale Vaudoise now owns 1,327 shares of the company’s stock valued at $432,000 after purchasing an additional 58 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Burlington Stores by 447.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 126,742 shares of the company’s stock worth $41,239,000 after purchasing an additional 103,585 shares during the last quarter. Krilogy Financial LLC raised its position in shares of Burlington Stores by 382.6% during the 1st quarter. Krilogy Financial LLC now owns 3,494 shares of the company’s stock worth $1,178,000 after purchasing an additional 2,770 shares during the last quarter. Evolve Private Wealth LLC lifted its stake in Burlington Stores by 90.0% in the 1st quarter. Evolve Private Wealth LLC now owns 2,769 shares of the company’s stock valued at $901,000 after buying an additional 1,312 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Burlington Stores by 44.7% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 342,741 shares of the company’s stock valued at $111,521,000 after buying an additional 105,942 shares in the last quarter.
Burlington Stores Trading Up 0.2%
BURL opened at $321.46 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.16 and a quick ratio of 0.49. The company’s 50 day simple moving average is $321.25 and its two-hundred day simple moving average is $309.99. Burlington Stores, Inc. has a 1-year low of $228.46 and a 1-year high of $351.85. The firm has a market capitalization of $20.23 billion, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 1.73 and a beta of 1.46.
Wall Street Analyst Weigh In
BURL has been the subject of several research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Burlington Stores in a research note on Thursday, June 18th. Barclays raised their target price on Burlington Stores from $365.00 to $411.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Truist Financial lifted their price target on Burlington Stores from $305.00 to $310.00 and gave the stock a “hold” rating in a research note on Thursday, May 28th. Bank of America boosted their price target on Burlington Stores from $367.00 to $375.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, Wells Fargo & Company reduced their price objective on Burlington Stores from $400.00 to $375.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Fifteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Burlington Stores currently has a consensus rating of “Moderate Buy” and an average target price of $353.56.
Get Our Latest Stock Report on Burlington Stores
Insider Buying and Selling
In other Burlington Stores news, CMO Jennifer Vecchio sold 20,920 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $341.53, for a total transaction of $7,144,807.60. Following the transaction, the chief marketing officer owned 81,017 shares of the company’s stock, valued at approximately $27,669,736.01. The trade was a 20.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Matthew Pasch sold 3,773 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $317.21, for a total value of $1,196,833.33. Following the completion of the sale, the insider owned 6,523 shares of the company’s stock, valued at approximately $2,069,160.83. The trade was a 36.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 27,036 shares of company stock worth $9,131,747. 1.30% of the stock is owned by corporate insiders.
Burlington Stores Company Profile
Burlington Stores, Inc is an American off-price retailer that sells apparel and home goods at discounted prices. The company’s merchandise assortment includes clothing for women, men and children, plus baby products, footwear, accessories, beauty items, toys and home décor. Burlington’s merchandising strategy focuses on offering branded and private-label goods at lower prices than traditional department stores by sourcing excess inventory, closeouts and opportunistic buys from manufacturers and other retailers.
The business traces its roots to the Burlington Coat Factory name established in the early 1970s and has since evolved into a broader off-price retailer that carries a wide range of seasonal and everyday merchandise.
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