Big Lots, Inc. (NYSE:BIG) Short Interest Up 5.3% in October

Big Lots, Inc. (NYSE:BIG) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 8,280,000 shares, an increase of 5.3% from the October 15th total of 7,860,000 shares. Currently, 30.5% of the company’s stock are short sold. Based on an average daily volume of 1,680,000 shares, the short-interest ratio is presently 4.9 days.

Institutional Investors Weigh In On Big Lots

A number of institutional investors have recently modified their holdings of BIG. Sigma Planning Corp raised its stake in Big Lots by 50.1% in the 1st quarter. Sigma Planning Corp now owns 40,845 shares of the company’s stock worth $448,000 after purchasing an additional 13,631 shares in the last quarter. Clifford Capital Partners LLC boosted its stake in shares of Big Lots by 34.0% in the first quarter. Clifford Capital Partners LLC now owns 797,433 shares of the company’s stock valued at $8,740,000 after buying an additional 202,356 shares during the period. Equitable Trust Co. grew its position in Big Lots by 24.5% during the second quarter. Equitable Trust Co. now owns 26,373 shares of the company’s stock worth $233,000 after buying an additional 5,195 shares in the last quarter. Cambria Investment Management L.P. increased its stake in Big Lots by 10.8% during the 1st quarter. Cambria Investment Management L.P. now owns 311,296 shares of the company’s stock worth $3,412,000 after acquiring an additional 30,383 shares during the period. Finally, Legacy Capital Group California Inc. acquired a new position in Big Lots in the 1st quarter valued at $146,000. Institutional investors own 72.02% of the company’s stock.

Big Lots Stock Performance

Big Lots stock traded up $0.10 during trading hours on Friday, hitting $4.16. The company had a trading volume of 1,186,842 shares, compared to its average volume of 1,773,819. The firm has a 50-day moving average of $4.63 and a 200 day moving average of $6.87. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.35 and a quick ratio of 0.17. The firm has a market cap of $121.43 million, a PE ratio of -0.21 and a beta of 2.34. Big Lots has a one year low of $3.47 and a one year high of $20.04.

Big Lots (NYSE:BIG) last announced its earnings results on Tuesday, August 29th. The company reported ($3.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.11) by $0.87. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. Big Lots had a negative return on equity of 47.91% and a negative net margin of 11.40%. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same quarter last year, the company earned ($2.28) earnings per share. On average, sell-side analysts expect that Big Lots will post -11.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BIG has been the subject of several recent research reports. Loop Capital increased their target price on shares of Big Lots from $6.00 to $7.00 and gave the stock a “hold” rating in a report on Wednesday, August 30th. Credit Suisse Group restated an “underperform” rating and issued a $6.00 price target on shares of Big Lots in a research note on Wednesday, August 30th. The Goldman Sachs Group cut their price target on shares of Big Lots from $5.00 to $4.00 and set a “sell” rating for the company in a research note on Friday, October 20th. StockNews.com cut Big Lots from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Finally, Telsey Advisory Group boosted their price target on Big Lots from $6.00 to $8.50 in a research report on Wednesday, August 30th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, Big Lots has a consensus rating of “Reduce” and a consensus price target of $6.42.

Big Lots Company Profile

Big Lots, Inc, through its subsidiaries, operates as a home discount retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattresses, case goods, and ready-to-assemble departments; seasonal category, which comprises patio furniture, gazebos, Christmas trim, and other holiday departments; soft home category that consists of home décor, frames, fashion and utility bedding, bath, window, decorative textile, and area rugs departments; and food category that includes beverage and grocery, specialty foods, and pet departments.