Big Lots, Inc. (NYSE:BIG – Get Free Report) 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.
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.
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