Big Lots Sees Unusually Large Options Volume (NYSE:BIG)

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Big Lots, Inc. (NYSE:BIG) saw some unusual options trading activity on Thursday. Investors purchased 4,224 put options on the company. This represents an increase of approximately 1,090% compared to the average daily volume of 355 put options.

In other news, EVP Lisa M. Bachmann sold 7,517 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $48.85, for a total value of $367,205.45. Following the sale, the executive vice president now owns 61,630 shares of the company’s stock, valued at approximately $3,010,625.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa M. Bachmann sold 29,733 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $48.85, for a total transaction of $1,452,457.05. Following the completion of the sale, the executive vice president now directly owns 61,630 shares in the company, valued at approximately $3,010,625.50. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Big Lots by 1.8% during the 2nd quarter. BlackRock Inc. now owns 5,110,859 shares of the company’s stock worth $213,532,000 after buying an additional 90,820 shares during the period. LSV Asset Management grew its stake in shares of Big Lots by 13.8% during the 2nd quarter. LSV Asset Management now owns 2,563,773 shares of the company’s stock worth $107,114,000 after acquiring an additional 310,800 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Big Lots by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,594,589 shares of the company’s stock worth $66,623,000 after acquiring an additional 132,458 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Big Lots by 15.7% during the 3rd quarter. Victory Capital Management Inc. now owns 945,276 shares of the company’s stock worth $39,503,000 after acquiring an additional 128,370 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Big Lots by 1.2% during the 2nd quarter. Northern Trust Corp now owns 868,651 shares of the company’s stock worth $36,293,000 after acquiring an additional 9,884 shares in the last quarter.

Several equities research analysts have recently weighed in on the stock. ValuEngine raised shares of Big Lots from a “sell” rating to a “hold” rating in a report on Friday, August 24th. Zacks Investment Research raised shares of Big Lots from a “strong sell” rating to a “hold” rating and set a $51.00 price objective on the stock in a report on Wednesday, August 1st. TheStreet raised shares of Big Lots from a “c+” rating to a “b-” rating in a report on Wednesday, August 8th. Loop Capital increased their price objective on shares of Big Lots from $48.00 to $48.00 and gave the stock a “hold” rating in a report on Monday, August 27th. Finally, Bank of America assumed coverage on shares of Big Lots in a report on Monday, November 5th. They set a “buy” rating and a $56.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. Big Lots presently has a consensus rating of “Hold” and a consensus target price of $51.73.

Big Lots stock traded down $2.08 during trading hours on Friday, reaching $42.82. 990,940 shares of the company’s stock traded hands, compared to its average volume of 1,080,803. The company has a current ratio of 1.69, a quick ratio of 0.32 and a debt-to-equity ratio of 0.70. Big Lots has a fifty-two week low of $36.20 and a fifty-two week high of $64.42. The company has a market cap of $1.75 billion, a PE ratio of 9.62, a PEG ratio of 1.12 and a beta of 0.96.

Big Lots (NYSE:BIG) last released its earnings results on Friday, August 31st. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.08). The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. Big Lots had a net margin of 3.14% and a return on equity of 27.83%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 earnings per share. Research analysts forecast that Big Lots will post 4.46 EPS for the current year.

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About Big Lots

Big Lots, Inc, through its subsidiaries, operates as a community retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattress, case goods, and ready-to-assemble departments; seasonal category, which comprises Christmas trim, lawn and garden, summer, and other holiday departments; soft home category that consists of fashion and utility bedding, bath, window, decorative textile, home organization, area rugs, home d├ęcor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.

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