Short Interest in Big 5 Sporting Goods Co. (NASDAQ:BGFV) Declines By 8.2%

kopsource · Jan 4, 2023 12:42

Big 5 Sporting Goods Co. (NASDAQ:BGFV – Get Rating) saw a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 4,160,000 shares, a decrease of 8.2% from the November 30th total of 4,530,000 shares. Approximately 20.1% of the shares of the company are sold short. Based on an average daily volume of 325,300 shares, the days-to-cover ratio is currently 12.8 days.

Insider Activity

In other news, Director Jennifer Holden Dunbar sold 2,000 shares of the company's stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $12.70, for a total value of $25,400.00. Following the transaction, the director now owns 14,143 shares of the company's stock, valued at $179,616.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jennifer Holden Dunbar sold 2,000 shares of the business's stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $12.70, for a total value of $25,400.00. Following the completion of the sale, the director now directly owns 14,143 shares in the company, valued at $179,616.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Jeffrey L. Fraley sold 3,268 shares of the business's stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $12.28, for a total value of $40,131.04. Following the completion of the sale, the vice president now owns 13,775 shares of the company's stock, valued at $169,157. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.

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Institutional Trading of Big 5 Sporting Goods

A number of institutional investors and hedge funds have recently bought and sold shares of BGFV. Renaissance Technologies LLC acquired a new stake in Big 5 Sporting Goods in the first quarter valued at $5,423,000. Goldman Sachs Group Inc. increased its holdings in Big 5 Sporting Goods by 238.9% in the first quarter. Goldman Sachs Group Inc. now owns 289,221 shares of the company's stock valued at $4,960,000 after purchasing an additional 203,878 shares during the period. Cambria Investment Management L.P. increased its holdings in Big 5 Sporting Goods by 88.5% in the second quarter. Cambria Investment Management L.P. now owns 315,401 shares of the company's stock valued at $3,536,000 after purchasing an additional 148,122 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Big 5 Sporting Goods by 335.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 184,538 shares of the company's stock valued at $3,165,000 after purchasing an additional 142,140 shares during the period. Finally, Prudential Financial Inc. increased its holdings in Big 5 Sporting Goods by 171.5% in the second quarter. Prudential Financial Inc. now owns 184,595 shares of the company's stock valued at $2,069,000 after purchasing an additional 116,600 shares during the period. 45.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com cut Big 5 Sporting Goods from a "buy" rating to a "hold" rating in a research note on Tuesday, December 27th.

Big 5 Sporting Goods Price Performance

NASDAQ BGFV traded up $0.22 on Wednesday, hitting $9.19. 1,870 shares of the company's stock were exchanged, compared to its average volume of 352,760. The stock has a 50-day moving average of $11.46 and a 200-day moving average of $11.72. The company has a current ratio of 1.61, a quick ratio of 0.26 and a debt-to-equity ratio of 0.02. Big 5 Sporting Goods has a 52 week low of $8.36 and a 52 week high of $21.40. The stock has a market cap of $203.83 million, a price-to-earnings ratio of 4.49 and a beta of 2.55.

Big 5 Sporting Goods (NASDAQ:BGFV – Get Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.02. Big 5 Sporting Goods had a return on equity of 16.43% and a net margin of 4.30%. The company had revenue of $261.45 million during the quarter.

Big 5 Sporting Goods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $1.00 dividend on an annualized basis and a yield of 10.88%. Big 5 Sporting Goods's payout ratio is 50.00%.

Big 5 Sporting Goods Company Profile

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Big 5 Sporting Goods Corporation operates as a sporting goods retailer in the western United States. The company's products include athletic shoes, apparel, and accessories. It also offers a selection of outdoor and athletic equipment for team sports, fitness, camping, hunting, fishing, tennis, golf, and winter and summer recreation, as well as home recreation.