New Vernon Capital Holdings II LLC Purchases 653,734 Shares of Buckle, Inc. (The) $BKE

Key Points

• New Vernon Capital Holdings II LLC significantly increased its stake in Buckle, Inc. by 3,732% during the first quarter, acquiring 653,734 shares to own about 1.31% of the company valued at $25.7 million.
• Buckle's shares opened at $60.30, reflecting a strong performance with a 12-month range from $33.12 to $60.47, and the company reported better-than-expected earnings of $0.89 EPS for the last quarter.
• Insider activity included Director John P. Peetz and CEO Dennis H. Nelson selling shares, resulting in a decrease of 5.97% and 1.22% in their ownership, respectively, with insiders currently holding 39% of the stock.

New Vernon Capital Holdings II LLC boosted its position in shares of Buckle, Inc. (The) (NYSE:BKE - Free Report) by 3,732.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 671,251 shares of the company's stock after purchasing an additional 653,734 shares during the period. New Vernon Capital Holdings II LLC owned 1.31% of Buckle worth $25,722,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BKE. Caption Management LLC acquired a new stake in Buckle during the fourth quarter valued at $36,000. State of Wyoming acquired a new stake in Buckle during the fourth quarter valued at $111,000. Viking Fund Management LLC acquired a new stake in Buckle during the first quarter valued at $115,000. Novem Group acquired a new stake in shares of Buckle in the fourth quarter worth about $227,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Buckle in the first quarter worth about $232,000. Institutional investors and hedge funds own 53.93% of the company's stock.

Insiders Place Their Bets

In other news, EVP Kari G. Smith sold 20,000 shares of Buckle stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $59.36, for a total value of $1,187,200.00. Following the transaction, the executive vice president directly owned 150,354 shares in the company, valued at approximately $8,925,013.44. The trade was a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Brett P. Milkie sold 6,000 shares of Buckle stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $60.17, for a total value of $361,020.00. Following the completion of the transaction, the senior vice president owned 89,570 shares in the company, valued at $5,389,426.90. The trade was a 6.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,500 shares of company stock valued at $3,320,030. Company insiders own 39.80% of the company's stock.

Buckle Stock Performance

Shares of Buckle stock traded up $0.64 during trading on Wednesday, reaching $59.68. The company's stock had a trading volume of 163,294 shares, compared to its average volume of 539,707. The business's fifty day moving average price is $52.37 and its 200-day moving average price is $43.79. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 14.92 and a beta of 1.02. Buckle, Inc. has a one year low of $33.12 and a one year high of $60.55.

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

Buckle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 29th. Stockholders of record on Wednesday, October 15th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.3%. Buckle's payout ratio is presently 35.00%.

Analyst Ratings Changes

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