Magnetar Financial LLC Makes New $256,000 Investment in Buckle, Inc. (The) $BKE

Key Points

• Magnetar Financial LLC has made a new investment in Buckle, Inc., purchasing 6,673 shares for approximately $256,000 in the first quarter.
• Several institutional investors have significantly increased their stakes in Buckle, with Balyasny Asset Management growing its position by 515.3% in the last quarter.
• Buckle recently reported earnings of $0.89 per share, exceeding analyst estimates and posting an 8.3% increase in revenue compared to the previous year.

Magnetar Financial LLC bought a new stake in shares of Buckle, Inc. (The) (NYSE:BKE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,673 shares of the company's stock, valued at approximately $256,000.

Other institutional investors have also added to or reduced their stakes in the company. Caption Management LLC purchased a new stake in Buckle during the 4th quarter valued at $36,000. State of Wyoming purchased a new stake in Buckle during the 4th quarter valued at $111,000. Viking Fund Management LLC purchased a new stake in Buckle during the 1st quarter valued at $115,000. Novem Group purchased a new stake in Buckle during the 4th quarter valued at $227,000. Finally, Banque Cantonale Vaudoise purchased a new stake in Buckle during the 1st quarter valued at $232,000. 53.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Dennis H. Nelson sold 20,453 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $43.52, for a total value of $890,114.56. Following the transaction, the chief executive officer directly owned 1,655,204 shares of the company's stock, valued at approximately $72,034,478.08. This trade represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John P. Peetz sold 1,500 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $55.74, for a total value of $83,610.00. Following the completion of the transaction, the director directly owned 23,623 shares in the company, valued at approximately $1,316,746.02. This represents a 5.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,953 shares of company stock valued at $1,472,125. 39.00% of the stock is owned by company insiders.

Buckle Trading Down 1.7%

Buckle stock traded down $1.00 during trading on Friday, reaching $59.25. The company had a trading volume of 771,278 shares, compared to its average volume of 573,518. Buckle, Inc. has a 52 week low of $33.12 and a 52 week high of $60.55. The firm's 50-day simple moving average is $51.85 and its 200 day simple moving average is $43.55. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 14.81 and a beta of 1.02.

Buckle (NYSE:BKE - Get Free Report) last announced its earnings results on Friday, August 22nd. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.06. Buckle had a return on equity of 43.97% and a net margin of 16.12%.The company had revenue of $305.74 million for the quarter, compared to analysts' expectations of $292.61 million. During the same period last year, the firm earned $0.78 EPS. Buckle's revenue for the quarter was up 8.3% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BKE. Wall Street Zen raised Buckle from a "hold" rating to a "buy" rating in a report on Saturday. UBS Group increased their price target on Buckle from $51.00 to $54.00 and gave the company a "neutral" rating in a report on Monday, August 25th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $54.00.

Buckle Profile

The Buckle, Inc operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear, as well as private label merchandise primarily comprising BKE, Buckle Black, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.