Foot Locker, Inc. (NYSE:FL) Sees Large Growth in Short Interest

Foot Locker, Inc. (NYSE:FL) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 8,820,000 shares, a growth of 6.0% from the October 31st total of 8,320,000 shares. Based on an average daily trading volume, of 3,230,000 shares, the days-to-cover ratio is presently 2.7 days. Approximately 10.5% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

FL has been the topic of a number of research reports. Williams Trading raised shares of Foot Locker from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $17.00 to $21.00 in a research report on Wednesday, November 27th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.00 price target on shares of Foot Locker in a research report on Wednesday, August 28th. Gordon Haskett initiated coverage on shares of Foot Locker in a research report on Monday, October 7th. They set an “accumulate” rating and a $27.00 price target on the stock. StockNews.com lowered shares of Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Finally, Piper Sandler dropped their price target on shares of Foot Locker from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.87.

Foot Locker Trading Down 2.9 %

NYSE FL traded down $0.72 during trading hours on Tuesday, reaching $24.42. The company’s stock had a trading volume of 2,612,292 shares, compared to its average volume of 3,237,404. The firm has a fifty day simple moving average of $24.22 and a 200-day simple moving average of $25.85. The stock has a market cap of $2.32 billion, a P/E ratio of -6.21, a P/E/G ratio of 0.74 and a beta of 1.46. Foot Locker has a 52 week low of $20.47 and a 52 week high of $35.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FL. Quarry LP acquired a new stake in shares of Foot Locker during the 2nd quarter worth approximately $31,000. Fifth Third Bancorp grew its position in Foot Locker by 116.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after purchasing an additional 733 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Foot Locker by 156.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after purchasing an additional 985 shares during the period. Headlands Technologies LLC acquired a new stake in Foot Locker in the 2nd quarter valued at $43,000. Finally, nVerses Capital LLC acquired a new stake in Foot Locker in the 3rd quarter valued at $47,000.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.