StockNews.com initiated coverage on shares of Big Lots (NYSE:BIG – Get Free Report) in a report released on Monday. The brokerage set a “sell” rating on the stock.
Several other research firms have also commented on BIG. Telsey Advisory Group cut their price objective on Big Lots from $2.50 to $1.50 and set a “market perform” rating for the company in a research note on Monday, August 5th. Loop Capital upgraded Big Lots from a “sell” rating to a “hold” rating and set a $1.00 price target for the company in a research report on Thursday, July 11th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat, Big Lots currently has a consensus rating of “Reduce” and a consensus price target of $2.50.
Get Our Latest Analysis on Big Lots
Big Lots Stock Performance
Institutional Trading of Big Lots
Several hedge funds have recently modified their holdings of the stock. Ground Swell Capital LLC purchased a new position in Big Lots in the second quarter valued at $26,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Big Lots during the first quarter worth about $54,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Big Lots by 46.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 37,421 shares of the company’s stock worth $163,000 after purchasing an additional 11,915 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Big Lots during the fourth quarter worth about $245,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Big Lots during the second quarter worth about $269,000. 75.96% of the stock is currently owned by institutional investors and hedge funds.
About Big Lots
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, home décor, case goods, and ready-to-assemble departments; seasonal category, which comprises patio furniture, gazebos, Christmas trim, lawn and garden, and other holiday departments; soft home category consists of apparel, hosiery, jewelry; frames, fashion and utility bedding, bath, window, decorative textiles, and area rugs departments; and food category that includes beverages and grocery, specialty foods, and candy and snacks departments.
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