Victory Capital Management Inc. has announced that it acquired a new stake in Big 5 Sporting Goods Co. during the fourth quarter, worth approximately $809,000. The acquisition saw the fund acquire 80,981 shares of the company’s stock, further cementing its position as a significant player in the industry. According to the most recent disclosure with the Securities and Exchange Commission, this puts Victory Capital Management Inc.’s ownership of Big 5 Sporting Goods at 0.37% for Q4.
In other news affecting BGFV, insiders have been selling off slices of their shares in recent times. VP Shane O. Starr sold 3,752 shares on May 4th at an average price of $7.17 per share totaling $26,901.84 before making a further sale of an additional lot on May 30th according to disclosures filed with the SEC which can be found here and here respectively.
Big 5 Sporting Goods’ business declaration that it is going to pay out a quarterly dividend will see investors receive $0.25 per share provided they were listed on record on June’s first Thursday – meaning investors who made purchases after this date will not be eligible for a payout when it goes out on June 15th.
With dividends scheduled to be paid out next week and dips in stock prices preceded by insider sales earlier this year, it is vital investors track stocks closely especially manufacturers like Big 5 Sporting Goods if they plan on buying alternate stocks or liquidating positions soon as these factors could signal either growth or financial trouble come end-of-year reports; keep an eye out!
Big 5 Sporting Goods Corporation
Updated on: 07/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Buy
DCF: Strong Buy
6:00 PM (UTC)
Date:05 December, 2023
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Institutional Investors Make Moves on Big 5 Sporting Goods, Indicating Positive Outlook for Retailer’s Future Prospects
The financial world has been abuzz with the news that several institutional investors recently added to or reduced their stakes in esteemed sports retailer, Big 5 Sporting Goods (BGFV). This came after Great West Life Assurance Co. Can, Russell Investments Group Ltd., Covestor Ltd., BNP Paribas Arbitrage SNC, and Maverick Capital Ltd. made moves on the BGFV stock in the past year.
Great West Life Assurance Co. Can went all-in on BGFV by boosting its holdings in the company by 182.8% during the first quarter of the year. They now own 1,459 shares valued at $26,000 after buying an additional 943 shares in the last quarter alone. Russell Investments Group also saw potential in Big 5 Sporting Goods and purchased a new stake worth roughly $26,000 in Q3 of last year.
Meanwhile, Covestor Ltd made a significant investment in BGFV during Q1 of this year with a total value reaching approximately $65,000. These huge investments were followed by BNP Paribas Arbitrage SNC who lifted their position in BGFV shares by 20.7% during Q3 of last year – they now own a total of 9,893 shares valued at $106,000.
Finally, Maverick Capital Ltd completed this long list of institutional investors that saw potential and decided to acquire a new stake in Big 5 Sporting Goods worth an estimated $177k during Q1 of this year alone.
It is worth noting that hedge funds and other institutional investors combined own almost half (45.98%) of Big 5 Sporting Goods’ entire stock portfolio which can only be viewed as further endorsement for this renowned sports retailer’s future prospects.
Big 5 Sporting Goods stocks opened trading at $7.64 on Monday which can be attributed to these recent market movements as well as other key trends. BGFV’s market capitalization currently stands at $171.06 million with a P/E ratio of 9.67 and a beta of 2.74.
Overall, Big 5 Sporting Goods has experienced difficult times in recent years due to fluctuations in the retail industry as well as tough competition from online retailers. However, recent investments made by institutional investors signal a positive outlook for this retailer’s future prospects in the market.
In light of all these events, it is unsurprising that BGFV was the subject of several research reports over the past few months. The most notable came from Lake Street Capital, who reduced their price target on BGFV shares from $11.00 to $9.50 in a report published on May 3rd. Other analysts at StockNews.com and TheStreet have also voiced concerns but maintain a hold rating for the company going forward.
All things considered, there is no doubt that Big 5 Sporting Goods’ upward trajectory will be closely monitored by analysts and investors alike as they strive to navigate through challenging economic waters with careful consideration given to data-driven decisions leading to potential positive returns on investment in the long run.