In a recent disclosure with the Securities and Exchange Commission, it was revealed that Victory Capital Management Inc. has acquired a new stake in Big 5 Sporting Goods Co. (BGFV:NSD). This strategic move by Victory Capital Management highlights their confidence in the company’s potential and aligns with the growing interest of institutional investors in the sporting goods industry. In this blog post, we will delve into the details of this investment and provide an overview of BGFV stock forecast.
Victory Capital Management’s Stake in Big 5 Sporting Goods:
According to the disclosure, Victory Capital Management Inc. acquired 80,981 shares of Big 5 Sporting Goods during the fourth quarter. The total value of this stake is estimated to be approximately $809,000. With this acquisition, Victory Capital Management now owns approximately 0.37% of the company’s outstanding shares, signifying their belief in the future prospects of Big 5 Sporting Goods.
Other Institutional Investors:
Victory Capital Management is not the only institutional investor expressing interest in Big 5 Sporting Goods. Great West Life Assurance Co. increased its holdings in the company by 182.8% during the first quarter, owning 1,459 shares valued at $26,000. Russell Investments Group Ltd. also purchased a new stake in Big 5 Sporting Goods during the third quarter, valued at approximately $26,000. These moves by notable institutional investors indicate a positive sentiment toward the BGFV stock forecast. In fact, hedge funds and other institutional investors now own 45.98% of Big 5 Sporting Goods’ stock.
BGFV Stock Performance:
On Monday, shares of BGFV stock opened at $7.64. The stock has experienced a 52-week low of $6.88 and a 52-week high of $15.60, highlighting its price volatility. The company currently has a market capitalization of $171.06 million and a beta of 2.74. It’s important to note that the stock’s performance is subject to market conditions and broader trends in the sporting goods industry.
Dividend Announcement:
Big 5 Sporting Goods recently announced a quarterly dividend, scheduled to be paid on Thursday, June 15th. Shareholders of record as of Thursday, June 1st will receive a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 31st. This represents an annualized dividend of $1.00 and a dividend yield of 13.09%. The company’s current dividend payout ratio stands at 126.58%.
BGFV Stock Forecast-Analyst Ratings:
Several research reports have been issued on Big 5 Sporting Goods. Lake Street Capital reduced their price target on the stock from $11.00 to $9.50 in a research report. Investors should consider these analyst ratings, along with their own research, when evaluating their investment decisions.
Insider Trading Activity:
In recent news, insiders at Big 5 Sporting Goods have been involved in buying and selling shares of the company. VP Shane O. Starr and VP Jeffrey L. Fraley both sold shares in separate transactions. These activities were disclosed in filings with the Securities and Exchange Commission, indicating the movement of positions held by company insiders. It’s worth noting that insiders currently own 5.40% of the BGFV stock.
Conclusion:
Victory Capital Management’s acquisition of a substantial stake in Big 5 Sporting Goods reflects their positive outlook of the BGFV stock forecast. This investment, along with interest from other institutional investors, further solidifies Big 5 Sporting Goods’ position in the market. Investors should consider the stock’s market performance, dividend announcements, analyst reports, and insider trading activities when assessing their investment strategies related to Big 5 Sporting Goods.
