Todays Report: Today, Investment Counselors of Maryland LLC Reduced the position of Big Lots Inc. (BIG)

Today, Investment Counselors of Maryland LLC Reduced the position of Big Lots Inc. (BIG)

Investment Counselors of Maryland LLC reduced its position in Big Lots Inc. (NYSE:BIG) by 2.5% during the third quarter, Holdings Channel reports. The fund owned 17,900 shares of the company’s stock after selling 450 shares during the period. Investment Counselors of Maryland LLC’s holdings in Big Lots were worth $855,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank increased its stake in Big Lots by 1.4% in the second quarter. Amalgamated Bank now owns 5,529 shares of the company’s stock worth $303,000 after buying an additional 79 shares during the last quarter. State Treasurer State of Michigan increased its stake in shares of Big Lots by 0.6% in the third quarter. State Treasurer State of Michigan now owns 17,900 shares of the company’s stock valued at $855,000 after buying an additional 100 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Big Lots by 1.7% in the third quarter. First Citizens Bank & Trust Co. now owns 6,255 shares of the company’s stock valued at $299,000 after buying an additional 105 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in shares of Big Lots by 2.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 6,133 shares of the company’s stock valued at $293,000 after buying an additional 121 shares during the last quarter. Finally, Synovus Financial Corp increased its stake in shares of Big Lots by 0.8% in the second quarter. Synovus Financial Corp now owns 16,461 shares of the company’s stock valued at $824,000 after buying an additional 124 shares during the last quarter.

Big Lots Inc. (NYSE:BIG) traded down 0.34% during midday trading on Friday, hitting $52.41. The stock had a trading volume of 302,650 shares. The company’s 50 day moving average price is $46.47 and its 200-day moving average price is $49.18. The stock has a market cap of $2.33 billion, a PE ratio of 16.31 and a beta of 0.82. Big Lots Inc. has a 52-week low of $33.78 and a 52-week high of $56.30.

Big Lots (NYSE:BIG) last issued its quarterly earnings data on Friday, August 26th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.06. The company earned $1.20 billion during the quarter. Big Lots had a return on equity of 25.68% and a net margin of 2.96%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share. Analysts forecast that Big Lots Inc. will post $3.53 EPS for the current fiscal year.

Several brokerages have weighed in on BIG. Zacks Investment Research downgraded Big Lots from a “buy” rating to a “hold” rating in a research report on Monday, October 31st. KeyCorp lowered their price objective on Big Lots from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, October 6th. Barclays PLC began coverage on Big Lots in a research report on Friday, September 23rd. They issued an “equal weight” rating and a $51.00 price objective for the company. Citigroup Inc. lowered their price objective on Big Lots from $62.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, September 1st. Finally, MKM Partners reiterated a “buy” rating and issued a $60.00 price objective on shares of Big Lots in a research report on Thursday, August 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $49.72.

In related news, insider Timothy A. Johnson sold 12,262 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $50.88, for a total value of $623,890.56. Following the completion of the transaction, the insider now directly owns 96,615 shares in the company, valued at $4,915,771.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

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