Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Big Lots Inc. shares valued at $147,490 were sold by Padovano Nicholas E on Apr 06. At $34.30 per share, Padovano Nicholas E sold 4,300 shares. The insider’s holdings dropped to 25,979 shares worth approximately $0.48 million following the completion of this transaction.
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Also, Padovano Nicholas E sold 3,500 shares, netting a total of over 121,870 in proceeds. Following the sale of shares at $34.82 each, the insider now holds 25,841 shares.
Before that, Padovano Nicholas E had sold 900 shares from its account. In a trade valued at $34,551, the Executive Vice President traded Big Lots Inc. shares for $38.39 each. Upon closing the transaction, the insider’s holdings decreased to 900 shares, worth approximately $0.33 million.
As published in a research note from Telsey Advisory Group on February 28, 2022, Big Lots Inc. [BIG] has been retained to a Market perform and the price target has been revised to $50. This represents a 62.96% premium over Wednesday’s closing price. Analysts at JP Morgan downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in early February. As of December 14, 2021, Goldman has decreased its “Neutral” rating to a “Sell” for BIG. Earlier on September 21, 2021, Piper Sandler downgraded its rating. Their new recommendation was “a Neutral” for BIG stock which previously was a “an Overweight”.
Analyzing BIG’s Price Performance
On Wednesday, Big Lots Inc. [NYSE: BIG] plunged -0.80% to $18.52. The stock’s lowest price that day was $18.52, but it reached a high of $19.48 in the same session. During the last five days, there has been a drop of approximately -11.56%. Over the course of the year, Big Lots Inc. shares have dropped approximately -58.89%. Shares of the company reached a 52-week high of $50.87 on 01/05/22 and a 52-week low of $18.16 on 07/27/22. A 50-day SMA is recorded $22.03, while a 200-day SMA reached $31.70. Nevertheless, trading volume fell to 1.01 million shares from 1.0 million shares the previous day.
Support And Resistance Levels for Big Lots Inc. (BIG)
According to the 24-hour chart, there is a support level at 18.20, which, if violated, would cause prices to drop to 17.88. In the upper region, resistance lies at 19.16. The next price resistance is at 19.80. RSI (Relative Strength Index) is 36.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.04, which suggests the price will decrease in the coming days. Percent R is at 100.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Big Lots Inc. subject to short interest?
Stocks of Big Lots Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.02 million shares to 9.9 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 10.92 million shares. A decline of -10.3% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.52 of the overall float, the days-to-cover ratio (short ratio) decline to 8.52.
Which companies own the most shares of Big Lots Inc. (BIG)?
According to BlackRock Fund Advisors filings, the company currently owns 4,467,285 shares, which is about 15.45% of the total BIG shares outstanding. The investor’s shares have plunged by -199,558 from its previous 13-F filing of 4666843.0 shares. With the completion of the buy transaction, Fidelity Management & Research Co’s stake is now worth $67,443,312. The Vanguard Group, Inc. reduced a -9.06% interest valued at $65.07 million while Dimensional Fund Advisors LP purchased a 179,377 stake. A total of -51,800 shares of Big Lots Inc. were bought by LSV Asset Management during the quarter, and 219,136 were bought by Ninety One UK Ltd. In its current portfolio, SSgA Funds Management, Inc. holds 1,345,283 shares valued at $27.67 million.
In terms of Big Lots Inc. share price expectations, FactSet research, analysts set an average price target of $19.50 in the next 12 months, up nearly 12.48% from the previous closing price of $18.67. Analysts anticipate Big Lots Inc. stock to reach $26.00 by 2022, with the lowest price target being $9.00. In spite of this, 9 analysts ranked Big Lots Inc. stock as a Hold at the end of 2022. On August 30, 2021, Goldman assigned a price target of “a Neutral” to the stock and reiterated coverage with a $58.