The Vanguard Group, Inc. 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 0.98% to 3.23 million shares with purchase of 31551.0 shares. This fresh investment now brings its stake to 11.14% valued currently at $29.08 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.12 million to 1.42 million shares. And Clifford Capital Partners LLC has lifted its position by 34.01% or 0.2 million shares – to 0.8 million shares.
With over 1.95 million Big Lots Inc. (BIG) shares trading Friday and a closing price of $7.88 on the day, the dollar volume was approximately $15.4 million. The shares have shown a negative half year performance of -55.78% and its price on 05/19/23 lost nearly -2.11%. Currently, there are 28.96M common shares owned by the public and among those 28.16M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for BIG have a consensus price objective of $12.00. The analysts have set the share’s price value over the next 12 months at a high of $16.00 and a low of $7.00. The average price target is 34.33% above its recent price level and a downside to the estimated low will see the stock lose -12.57% over that period. But an upside of 50.75% will see the stock hit the forecast high price target while median target price for the stock is $13.50.
Insiders at the company have transacted a total of 47 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 1,031,462 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 59,252 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 2.09 million shares of the company’s stock, all valued at over $18.77 million. The company sold 3349.0 shares recently to bring their total holdings to about 7.19% 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 $10.05 million. Border to Coast Global Equity Alp now owns shares totaling to 3.85% of the shares outstanding.
Shares of Big Lots Inc. (NYSE: BIG) opened at $8.00, down -$0.05 from a prior closing price of $8.05. The company’s stock has a 5-day price change of -5.06% and -52.96% over the past three months. BIG shares are trading -46.39% year to date (YTD), with the 12-month market performance down to -72.83% lower. It has a 12-month low price of $7.61 and touched a high of $32.25 over the same period. BIG has an average intraday trading volume of 1.56 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 -7.86%, -22.76%, and -51.36% respectively.
Institutional ownership of Big Lots Inc. (NYSE: BIG) shares accounts for 112.42% of the company’s 28.96M shares outstanding. Mutual fund holders own 41.77%, while other institutional holders and individual stakeholders account for 61.36% and 27.95% respectively.
It has a market capitalization of $233.72M and a beta (3y monthly) value of 1.97. 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 6.27% over the week and 6.26% over the month.
Analysts forecast that Big Lots Inc. (BIG) will achieve an EPS of -$1.77 for the current quarter, -$1.58 for the next quarter and -$2.66 for 2025. The lowest estimate earnings-per-share for the quarter is -$2.13 while analysts give the company a high EPS estimate of -$0.57. Comparatively, EPS for the current quarter was -$0.39 a year ago. Earnings per share for the fiscal year are expected to decrease by -237.00%, and 44.90% 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 3.30. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 4 of the 10 advise that investors “hold,” and 4 rated it as a “Sell.”
