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

StockNews.com began coverage on shares of Big Lots (NYSE:BIG) in a report issued on Saturday morning. The brokerage issued a sell rating on the stock.

A number of other brokerages have also weighed in on BIG. Loop Capital raised Big Lots from a sell rating to a hold rating and set a $1.00 target price on the stock in a research report on Thursday, July 11th. Telsey Advisory Group lowered their target price on Big Lots from $2.50 to $1.50 and set a market perform rating on the stock in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Reduce and a consensus target price of $2.50.

Big Lots Stock Performance

Big Lots has a 12 month low of $0.30 and a 12 month high of $8.41. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.16 and a current ratio of 1.39. The firm has a 50-day simple moving average of $0.98 and a 200 day simple moving average of $2.60. The firm has a market capitalization of $8.82 million, a price-to-earnings ratio of -0.02 and a beta of 2.20.

Hedge Funds Weigh In On Big Lots

Institutional investors have recently modified their holdings of the company. Ground Swell Capital LLC purchased a new stake in Big Lots in the 2nd quarter valued at $26,000. State Board of Administration of Florida Retirement System purchased a new stake in Big Lots in the 1st quarter valued at $54,000. Price T Rowe Associates Inc. MD raised its position in 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 valued at $163,000 after buying an additional 11,915 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Big Lots in the 4th quarter valued at $245,000. Finally, Squarepoint Ops LLC purchased a new stake in Big Lots in the 2nd quarter valued at $269,000. 75.96% of the stock is owned by institutional investors and hedge funds.

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.