ExodusPoint Capital Management LP Buys 93,161 Shares of Big Lots, Inc. (NYSE:BIG)

Posted by on Sep 4th, 2023

ExodusPoint Capital Management LP increased its stake in shares of Big Lots, Inc. (NYSE:BIG – Free Report) by 331.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,304 shares of the company’s stock after acquiring an additional 93,161 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.42% of Big Lots worth $1,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. PNC Financial Services Group Inc. grew its holdings in shares of Big Lots by 69.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,819 shares of the company’s stock worth $27,000 after purchasing an additional 747 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in Big Lots in the 4th quarter worth $41,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Big Lots by 42.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,231 shares of the company’s stock valued at $62,000 after acquiring an additional 1,259 shares during the period. US Bancorp DE boosted its holdings in shares of Big Lots by 32.5% during the first quarter. US Bancorp DE now owns 2,053 shares of the company’s stock worth $71,000 after purchasing an additional 503 shares during the period. Finally, Everence Capital Management Inc. purchased a new position in Big Lots during the 1st quarter valued at about $111,000. 72.02% of the stock is owned by hedge funds and other institutional investors.

Big Lots Trading Up 3.2 %

NYSE:BIG opened at $6.40 on Monday. Big Lots, Inc. has a one year low of $4.78 and a one year high of $24.09. The company’s 50-day simple moving average is $8.62 and its 200 day simple moving average is $9.65. The firm has a market capitalization of $186.73 million, a P/E ratio of -0.33 and a beta of 2.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.47 and a quick ratio of 0.17.

Big Lots (NYSE:BIG – Get Free Report) last posted its quarterly earnings results on Tuesday, August 29th. The company reported ($3.24) earnings per share for the quarter, topping the consensus estimate of ($4.11) by $0.87. Big Lots had a negative return on equity of 34.74% and a negative net margin of 7.78%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the business posted ($2.28) EPS. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. As a group, analysts forecast that Big Lots, Inc. will post -10.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BIG has been the topic of several research analyst reports. StockNews.com cut Big Lots from a “hold” rating to a “sell” rating in a research note on Wednesday, August 30th. Credit Suisse Group restated an “underperform” rating and issued a $6.00 price objective on shares of Big Lots in a report on Wednesday, August 30th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Big Lots from $8.00 to $6.00 in a research note on Tuesday, May 30th. Loop Capital increased their price target on shares of Big Lots from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Wednesday, August 30th. Finally, Telsey Advisory Group raised their price objective on shares of Big Lots from $6.00 to $8.50 in a report on Wednesday, August 30th. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $6.93.

View Our Latest Stock Analysis on Big Lots

Big Lots Profile

(Free Report)

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

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