Big 5 Sporting Goods Co. (NASDAQ:BGFV) Sees Significant Drop in Short Interest

Big 5 Sporting Goods Co. (NASDAQ:BGFV) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 3,570,000 shares, a decline of 11.2% from the February 29th total of 4,020,000 shares. Based on an average trading volume of 374,900 shares, the days-to-cover ratio is presently 9.5 days. Approximately 17.0% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several research firms have issued reports on BGFV. StockNews.com upgraded Big 5 Sporting Goods from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th. TheStreet cut Big 5 Sporting Goods from a “c” rating to a “d+” rating in a research note on Wednesday, February 28th.

Big 5 Sporting Goods Stock Performance

NASDAQ:BGFV traded down $0.44 on Friday, hitting $3.52. 1,611,769 shares of the company’s stock traded hands, compared to its average volume of 553,478. The company has a current ratio of 1.63, a quick ratio of 0.18 and a debt-to-equity ratio of 0.05. Big 5 Sporting Goods has a 1 year low of $3.46 and a 1 year high of $9.99. The firm has a 50-day moving average price of $4.62 and a 200-day moving average price of $5.75.

Big 5 Sporting Goods (NASDAQ:BGFV) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The firm had revenue of $196.35 million during the quarter. Big 5 Sporting Goods had a negative net margin of 0.80% and a negative return on equity of 2.77%.

Big 5 Sporting Goods Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $0.05 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.20 annualized dividend and a dividend yield of 5.68%. Big 5 Sporting Goods’s payout ratio is -60.61%.

Institutional Investors Weigh In On Big 5 Sporting Goods

Several large investors have recently made changes to their positions in the company. Great West Life Assurance Co. Can lifted its holdings in Big 5 Sporting Goods by 182.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,459 shares of the company’s stock worth $26,000 after purchasing an additional 943 shares during the last quarter. FMR LLC lifted its holdings in Big 5 Sporting Goods by 1,561.0% in the 1st quarter. FMR LLC now owns 3,405 shares of the company’s stock worth $26,000 after purchasing an additional 3,200 shares during the last quarter. State of Wyoming acquired a new stake in Big 5 Sporting Goods in the 2nd quarter worth approximately $34,000. Covestor Ltd acquired a new stake in Big 5 Sporting Goods in the 1st quarter worth approximately $65,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Big 5 Sporting Goods by 424.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,606 shares of the company’s stock worth $39,000 after purchasing an additional 4,537 shares during the last quarter. Institutional investors own 41.98% of the company’s stock.

About Big 5 Sporting Goods

Big 5 Sporting Goods Corporation operates as a sporting goods retailer in the western United States. Its products include athletic shoes, apparel, and accessories. The company 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.