Envestnet Portfolio Solutions Inc. Sells 2,392 Shares of Burlington Stores, Inc. (NYSE:BURL)

Envestnet Portfolio Solutions Inc. decreased its position in Burlington Stores, Inc. (NYSE:BURL - Free Report) by 60.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,561 shares of the company's stock after selling 2,392 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Burlington Stores were worth $372,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its stake in Burlington Stores by 2.4% during the 1st quarter. State of Alaska Department of Revenue now owns 7,360 shares of the company's stock valued at $1,754,000 after acquiring an additional 175 shares during the period. Chicago Capital LLC lifted its stake in Burlington Stores by 36.6% during the 1st quarter. Chicago Capital LLC now owns 181,663 shares of the company's stock valued at $43,296,000 after acquiring an additional 48,680 shares during the period. Precision Wealth Strategies LLC lifted its stake in Burlington Stores by 14.7% during the 1st quarter. Precision Wealth Strategies LLC now owns 1,646 shares of the company's stock valued at $392,000 after acquiring an additional 211 shares during the period. Ritholtz Wealth Management bought a new position in Burlington Stores during the 1st quarter valued at about $234,000. Finally, Elevation Point Wealth Partners LLC lifted its stake in Burlington Stores by 14.4% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,923 shares of the company's stock valued at $458,000 after acquiring an additional 242 shares during the period.

Burlington Stores Trading Up 0.8%

Burlington Stores stock opened at $230.98 on Friday. The firm has a 50 day moving average of $237.97 and a 200 day moving average of $252.38. The firm has a market capitalization of $14.57 billion, a price-to-earnings ratio of 28.34, a P/E/G ratio of 1.65 and a beta of 1.65. Burlington Stores, Inc. has a 12-month low of $212.92 and a 12-month high of $298.89. The company has a current ratio of 1.06, a quick ratio of 0.39 and a debt-to-equity ratio of 1.21.

Burlington Stores (NYSE:BURL - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.17. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.52 billion. Burlington Stores had a net margin of 4.88% and a return on equity of 44.03%. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.35 EPS. As a group, research analysts predict that Burlington Stores, Inc. will post 7.93 earnings per share for the current year.

Insider Buying and Selling at Burlington Stores

In other Burlington Stores news, COO Travis Marquette sold 190 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $237.63, for a total transaction of $45,149.70. Following the completion of the sale, the chief operating officer now directly owns 22,858 shares of the company's stock, valued at $5,431,746.54. This trade represents a 0.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Stephen Ferroni sold 450 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $241.39, for a total transaction of $108,625.50. Following the sale, the chief accounting officer now directly owns 2,389 shares of the company's stock, valued at approximately $576,680.71. This trade represents a 15.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BURL. Robert W. Baird lowered their target price on shares of Burlington Stores from $335.00 to $325.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $300.00 price target (down previously from $340.00) on shares of Burlington Stores in a research report on Thursday, May 29th. Morgan Stanley reduced their price target on shares of Burlington Stores from $297.00 to $269.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Loop Capital reduced their price target on shares of Burlington Stores from $315.00 to $305.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Finally, Wells Fargo & Company reduced their price target on shares of Burlington Stores from $325.00 to $300.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Burlington Stores presently has a consensus rating of "Moderate Buy" and an average price target of $317.43.

About Burlington Stores

Burlington Stores, Inc operates as a retailer of branded merchandise in the United States. The company provides fashion-focused merchandise, including women's ready-to-wear apparel, menswear, youth apparel, footwear, accessories, toys, gifts, and coats, as well as baby, home, and beauty products.

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