Cortina Asset Management LLC Reduces Position in Burlington (BURL)
Cortina Asset Management LLC trimmed its position in Burlington (NYSE:BURL) by 39.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 154,380 shares of the company’s stock after selling 100,194 shares during the quarter. Burlington comprises 1.0% of Cortina Asset Management LLC’s investment portfolio, making the stock its 23rd biggest position. Cortina Asset Management LLC owned 0.23% of Burlington worth $20,556,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Focused Wealth Management Inc acquired a new position in Burlington in the 4th quarter valued at about $101,000. Captrust Financial Advisors acquired a new position in Burlington in the 4th quarter valued at about $110,000. YorkBridge Wealth Partners LLC acquired a new position in Burlington in the 4th quarter valued at about $106,000. American International Group Inc. acquired a new position in Burlington in the 4th quarter valued at about $191,000. Finally, King Luther Capital Management Corp acquired a new position in Burlington in the 1st quarter valued at about $215,000.
Several brokerages have recently commented on BURL. ValuEngine upgraded shares of Burlington from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. SunTrust Banks set a $148.00 price objective on shares of Burlington and gave the stock a “buy” rating in a report on Monday, April 23rd. Credit Suisse Group assumed coverage on shares of Burlington in a report on Monday, March 12th. They issued an “outperform” rating and a $146.00 price objective on the stock. Morgan Stanley increased their target price on shares of Burlington from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, April 12th. Finally, Wolfe Research reiterated an “outperform” rating and set a $146.00 target price (up from $139.00) on shares of Burlington in a report on Friday, March 9th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Burlington currently has an average rating of “Buy” and an average price target of $139.67.
Burlington (NYSE:BURL) last announced its quarterly earnings data on Thursday, May 31st. The company reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.17. Burlington had a net margin of 6.31% and a negative return on equity of 754.89%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm posted $0.79 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. research analysts forecast that Burlington will post 5.87 earnings per share for the current year.
In related news, CEO Thomas Kingsbury sold 20,000 shares of the stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $137.13, for a total value of $2,742,600.00. Following the transaction, the chief executive officer now directly owns 355,273 shares of the company’s stock, valued at approximately $48,718,586.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joyce Manning Magrini sold 2,500 shares of the stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $134.58, for a total transaction of $336,450.00. The disclosure for this sale can be found here. Insiders sold a total of 47,500 shares of company stock worth $6,243,575 over the last ninety days. Insiders own 1.91% of the company’s stock.
Burlington Company Profile
Burlington Stores, Inc is an apparel and home product retailer. Its products include ladies sportswear, menswear, coats, family footwear and youth apparel, as well as baby furniture, accessories, home decor and gifts. The company was founded in 1972 and is headquartered in Burlington, NJ.
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