Invenomic Capital Management LP Raises Stock Holdings in Foot Locker, Inc. $FL

Key Points

• Invenomic Capital Management LP increased its stake in Foot Locker by 766.9%, owning 737,068 shares valued at approximately $10.4 million as of the end of the first quarter.
• Foot Locker's recent earnings report showed a loss of $0.27 per share, missing estimates, with quarterly revenue of $1.86 billion.
• Analyst ratings for Foot Locker are mixed, with two buy ratings, twelve hold ratings, and two sell ratings, while the consensus target price is $21.33.

Invenomic Capital Management LP grew its position in shares of Foot Locker, Inc. (NYSE:FL - Free Report) by 766.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 737,068 shares of the athletic footwear retailer's stock after acquiring an additional 652,045 shares during the quarter. Invenomic Capital Management LP owned about 0.77% of Foot Locker worth $10,393,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FL. GAMMA Investing LLC raised its stake in shares of Foot Locker by 250.6% in the 1st quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer's stock worth $35,000 after buying an additional 1,764 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Foot Locker in the 1st quarter valued at approximately $59,000. Signaturefd LLC grew its stake in shares of Foot Locker by 27.2% in the 1st quarter. Signaturefd LLC now owns 4,579 shares of the athletic footwear retailer's stock valued at $65,000 after purchasing an additional 980 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Foot Locker by 100,166.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 6,016 shares of the athletic footwear retailer's stock worth $85,000 after acquiring an additional 6,010 shares during the last quarter. Finally, FORA Capital LLC acquired a new stake in shares of Foot Locker in the 1st quarter valued at $154,000.

Analysts Set New Price Targets

A number of brokerages have recently commented on FL. Needham & Company LLC restated a "hold" rating on shares of Foot Locker in a report on Wednesday, August 27th. Telsey Advisory Group reiterated a "market perform" rating and set a $24.00 price target on shares of Foot Locker in a research note on Wednesday, August 27th. Wall Street Zen cut Foot Locker to a "strong sell" rating in a report on Saturday, August 30th. Gordon Haskett cut Foot Locker from a "moderate buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Robert W. Baird upped their target price on shares of Foot Locker from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Foot Locker presently has a consensus rating of "Hold" and a consensus target price of $21.33.

Foot Locker Stock Up 0.1%

FL stock opened at $24.15 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.45 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -5.99, a PEG ratio of 2.18 and a beta of 1.79. The firm has a 50-day moving average of $25.19 and a two-hundred day moving average of $20.19. Foot Locker, Inc. has a 12 month low of $11.00 and a 12 month high of $29.24.

Foot Locker (NYSE:FL - Get Free Report) last announced its earnings results on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.32). The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.87 billion. Foot Locker had a positive return on equity of 2.92% and a negative net margin of 4.90%.Foot Locker's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) earnings per share. As a group, analysts forecast that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Foot Locker

In related news, CAO Giovanna Cipriano sold 22,383 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $24.90, for a total value of $557,336.70. Following the completion of the sale, the chief accounting officer owned 93,895 shares of the company's stock, valued at $2,337,985.50. This represents a 19.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Franklin Bracken sold 14,922 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $24.50, for a total value of $365,589.00. Following the transaction, the president owned 213,496 shares in the company, valued at approximately $5,230,652. This trade represents a 6.53% decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Foot Locker Company Profile

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.

Want to see what other hedge funds are holding FL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Foot Locker, Inc. (NYSE:FL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.