StockNews.com Initiates Coverage on Big Lots (NYSE:BIG)

Investment analysts at StockNews.com initiated coverage on shares of Big Lots (NYSE:BIG) in a note issued to investors on Monday. The brokerage set a “sell” rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Telsey Advisory Group dropped their target price on shares of Big Lots from $2.50 to $1.50 and set a “market perform” rating on the stock in a report on Monday, August 5th. Loop Capital raised shares of Big Lots from a “sell” rating to a “hold” rating and set a $1.00 price target for the company in a research note on Thursday, July 11th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat, Big Lots currently has an average rating of “Reduce” and a consensus target price of $2.50.

Big Lots Trading Down 40.2 %

Shares of NYSE:BIG opened at $0.30 on Monday. The company has a market cap of $8.82 million, a P/E ratio of -0.02 and a beta of 2.20. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.16 and a current ratio of 1.39. Big Lots has a 52-week low of $0.30 and a 52-week high of $8.41. The stock’s 50-day moving average is $0.92 and its 200-day moving average is $2.56.

Institutional Trading of Big Lots

A number of hedge funds have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System purchased a new stake in shares of Big Lots during the 1st quarter worth approximately $54,000. Ground Swell Capital LLC acquired a new position in shares of Big Lots during the 2nd quarter worth $26,000. Quadrature Capital Ltd acquired a new position in shares of Big Lots during the 4th quarter worth $245,000. Price T Rowe Associates Inc. MD boosted its position in shares of Big Lots by 46.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,421 shares of the company’s stock worth $163,000 after buying an additional 11,915 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Big Lots in the 4th quarter worth about $400,000. 75.96% of the stock is owned by hedge funds and other institutional investors.

About Big Lots

Big Lots, Inc, through its subsidiaries, operates as a home discount retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattresses, home décor, case goods, and ready-to-assemble departments; seasonal category, which comprises patio furniture, gazebos, Christmas trim, lawn and garden, and other holiday departments; soft home category consists of apparel, hosiery, jewelry; frames, fashion and utility bedding, bath, window, decorative textiles, and area rugs departments; and food category that includes beverages and grocery, specialty foods, and candy and snacks departments.