Fred Alger Management LLC Purchases 1,442 Shares of Burlington Stores, Inc. (NYSE:BURL)

Fred Alger Management LLC increased its position in shares of Burlington Stores, Inc. (NYSE:BURL) by 0.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 250,891 shares of the company’s stock after buying an additional 1,442 shares during the period. Fred Alger Management LLC owned 0.39% of Burlington Stores worth $66,105,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BURL. Tidal Investments LLC raised its stake in Burlington Stores by 178.4% during the first quarter. Tidal Investments LLC now owns 6,163 shares of the company’s stock worth $1,431,000 after buying an additional 3,949 shares during the last quarter. Swedbank AB bought a new position in Burlington Stores during the first quarter worth $1,101,000. Cetera Investment Advisers bought a new position in Burlington Stores during the first quarter worth $2,851,000. GAMMA Investing LLC raised its stake in Burlington Stores by 20.4% during the second quarter. GAMMA Investing LLC now owns 313 shares of the company’s stock worth $75,000 after buying an additional 53 shares during the last quarter. Finally, DNB Asset Management AS raised its stake in Burlington Stores by 17.9% during the second quarter. DNB Asset Management AS now owns 11,429 shares of the company’s stock worth $2,743,000 after buying an additional 1,733 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BURL. Citigroup lifted their target price on shares of Burlington Stores from $313.00 to $344.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen raised their price target on shares of Burlington Stores from $288.00 to $334.00 and gave the stock a “buy” rating in a report on Monday. Gordon Haskett upgraded shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Monday, August 19th. Robert W. Baird raised their price target on shares of Burlington Stores from $315.00 to $330.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, The Goldman Sachs Group raised their price target on shares of Burlington Stores from $278.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $307.69.

Burlington Stores Stock Up 0.5 %

Burlington Stores stock opened at $288.36 on Friday. Burlington Stores, Inc. has a fifty-two week low of $168.49 and a fifty-two week high of $298.89. The stock has a market cap of $18.31 billion, a PE ratio of 39.50, a price-to-earnings-growth ratio of 1.48 and a beta of 1.64. The firm’s 50-day simple moving average is $262.68 and its 200 day simple moving average is $249.98. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.48 and a current ratio of 1.17.

Burlington Stores (NYSE:BURL) last released its quarterly earnings results on Tuesday, November 26th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.02. Burlington Stores had a net margin of 4.49% and a return on equity of 47.52%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts predict that Burlington Stores, Inc. will post 7.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other Burlington Stores news, Director Paul Sullivan sold 1,705 shares of Burlington Stores stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $277.05, for a total value of $472,370.25. Following the sale, the director now owns 7,393 shares of the company’s stock, valued at approximately $2,048,230.65. The trade was a 18.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.91% of the company’s stock.

About Burlington Stores

Burlington Stores, Inc operates as a retailer of branded merchandise in the United States. The company provides fashion-focused merchandise, including women's ready-to-wear apparel, menswear, youth apparel, footwear, accessories, toys, gifts, and coats, as well as baby, home, and beauty products.