Traders Purchase Large Volume of Put Options on Burlington Stores (BURL)

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Burlington Stores Inc (NYSE:BURL) was the target of unusually large options trading on Wednesday. Stock investors purchased 6,936 put options on the stock. This is an increase of 2,047% compared to the typical daily volume of 323 put options.

BURL opened at $167.18 on Thursday. Burlington Stores has a 12-month low of $114.04 and a 12-month high of $180.27. The company has a debt-to-equity ratio of 5.63, a quick ratio of 0.24 and a current ratio of 1.00. The firm has a market cap of $11.50 billion, a PE ratio of 38.26, a PEG ratio of 1.12 and a beta of 0.19.

Several research firms recently weighed in on BURL. Zacks Investment Research lowered Burlington Stores from a “buy” rating to a “hold” rating in a report on Tuesday, February 26th. Wedbush reaffirmed a “neutral” rating and issued a $155.00 price objective on shares of Burlington Stores in a research report on Friday, January 4th. Loop Capital upped their price objective on Burlington Stores to $185.00 and gave the company a “buy” rating in a research report on Friday, December 28th. Citigroup upped their price objective on Burlington Stores from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, November 29th. Finally, Credit Suisse Group upped their price objective on Burlington Stores from $178.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Burlington Stores presently has an average rating of “Buy” and an average target price of $177.75.

In related news, insider Fred Hand sold 4,071 shares of the stock in a transaction on Monday, January 7th. The stock was sold at an average price of $167.44, for a total transaction of $681,648.24. Following the sale, the insider now owns 62,853 shares in the company, valued at approximately $10,524,106.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Vecchio sold 800 shares of the stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $160.25, for a total value of $128,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 87,246 shares of company stock worth $14,360,422 over the last ninety days. Insiders own 1.91% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fulcrum Equity Management bought a new stake in Burlington Stores during the fourth quarter valued at about $820,000. Norges Bank purchased a new stake in Burlington Stores in the fourth quarter valued at about $107,024,000. FMR LLC raised its stake in Burlington Stores by 11.4% in the fourth quarter. FMR LLC now owns 4,758,379 shares of the company’s stock valued at $774,046,000 after buying an additional 486,171 shares during the last quarter. Executive Wealth Management LLC purchased a new stake in Burlington Stores in the fourth quarter valued at about $54,000. Finally, Amalgamated Bank raised its stake in Burlington Stores by 63.4% in the fourth quarter. Amalgamated Bank now owns 14,954 shares of the company’s stock valued at $2,433,000 after buying an additional 5,804 shares during the last quarter.

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Burlington Stores Company Profile

Burlington Stores, Inc operates as a retailer of branded apparel products in the United States. The company offers fashion-focused merchandise, including women's ready-to-wear apparel, accessories, footwear, menswear, youth apparel, coats, and gifts, as well as baby, home, and beauty products. As of February 3, 2018, it operated 629 stores, including an Internet store in 45 states and Puerto Rico.

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