BlackRock Fund Advisors recently announced the acquisition of new stake in Big Lots Inc. (NYSE:BIG). The institutional investor has increased its shareholding in the Consumer Defensive company by 2.02% to 4.56 million shares with purchase of 90428.0 shares. This fresh investment now brings its stake to 15.74% valued currently at $65.4 million. In addition, Fidelity Management & Research Co raised its holdings by 3735.0 to 3.38 million shares. And The Vanguard Group, Inc. has lifted its position by 0.98% or 31551.0 shares – to 3.23 million shares.
With over 2.09 million Big Lots Inc. (BIG) shares trading Monday and a closing price of $13.73 on the day, the dollar volume was approximately $28.76 million. The shares have shown a negative half year performance of -40.20% and its price on 03/13/23 lost nearly -0.22%. Currently, there are 28.94M common shares owned by the public and among those 28.16M shares have been available to trade.
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Insiders at the company have transacted a total of 62 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 34 of these insider trades were purchases, accounting for 481,647 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 173,195 shares.
The top 3 mutual fund holders in Big Lots Inc. are iShares Core S&P Small Cap ETF, Fidelity Low Priced Stock Fund, and Border to Coast Global Equity Alp. iShares Core S&P Small Cap ETF owns 2.2 million shares of the company’s stock, all valued at over $31.54 million. The company bought an additional 5330.0 shares recently to bring their total holdings to about 7.59% of the shares outstanding. Fidelity Low Priced Stock Fund bought 5800.0 shares to see its total holdings expand to 1.75 million shares valued at over $25.11 million and representing 6.04% of the shares outstanding. Border to Coast Global Equity Alp bought 1.12 million shares to bring its total holdings to over 1.12 million shares at a value of $16.05 million. Border to Coast Global Equity Alp now owns shares totaling to 3.86% of the shares outstanding.
Shares of Big Lots Inc. (NYSE: BIG) opened at $13.33, down -$0.43 from a prior closing price of $13.76. However, the script later moved the day high at 13.77, down -0.22%. The company’s stock has a 5-day price change of -4.72% and -21.99% over the past three months. BIG shares are trading -6.60% year to date (YTD), with the 12-month market performance down to -60.89% lower. It has a 12-month low price of $12.87 and touched a high of $40.45 over the same period. BIG has an average intraday trading volume of 1.20 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -10.02%, -15.27%, and -28.56% respectively.
Institutional ownership of Big Lots Inc. (NYSE: BIG) 28.94M shares outstanding. Mutual fund holders own 39.30%, while other institutional holders and individual stakeholders account for 64.99% and 24.87% respectively.
It has a market capitalization of $406.00M and a beta (3y monthly) value of 2.01. The earnings-per-share (ttm) stands at -$7.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.32% over the week and 6.02% over the month.
Analysts forecast that Big Lots Inc. (BIG) will achieve an EPS of -$0.74 for the current quarter, $0.26 for the next quarter and -$0.64 for 2024. The lowest estimate earnings-per-share for the quarter is -$1.51 while analysts give the company a high EPS estimate of $0.12. Comparatively, EPS for the current quarter was $1.75 a year ago. Earnings per share for the fiscal year are expected to decrease by -66.90%, and 39.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Big Lots Inc. (BIG) as a “Hold” at a consensus score of 3.20. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 5 of the 10 advise that investors “hold,” and 3 rated it as a “Sell.”
Looking at the support for the BIG, a number of firms have released research notes about the stock. Credit Suisse stated their Underperform rating for the stock in a research note on December 20, 2022, with the firm’s price target at $15. Telsey Advisory Group coverage for the Big Lots Inc. (BIG) stock in a research note released on December 02, 2022 offered a Market Perform rating with a price target of $20. Telsey Advisory Group was of a view on February 28, 2022 that the stock is Market Perform, while JP Morgan gave the stock Underweight rating on February 09, 2022, issuing a price target of $54- $31. Goldman on their part issued Sell rating on December 14, 2021.
