Aristeia Capital L.L.C. Makes New Investment in Foot Locker, Inc. (NYSE:FL)

Aristeia Capital L.L.C. purchased a new stake in Foot Locker, Inc. (NYSE:FL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 11,216 shares of the athletic footwear retailer’s stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FL. Patriot Financial Group Insurance Agency LLC lifted its position in Foot Locker by 3.1% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 14,235 shares of the athletic footwear retailer’s stock valued at $355,000 after buying an additional 431 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Foot Locker by 1.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 41,541 shares of the athletic footwear retailer’s stock worth $1,035,000 after purchasing an additional 483 shares during the period. Arizona State Retirement System increased its holdings in Foot Locker by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 23,808 shares of the athletic footwear retailer’s stock valued at $593,000 after purchasing an additional 518 shares during the last quarter. Comerica Bank raised its position in Foot Locker by 1.5% in the fourth quarter. Comerica Bank now owns 41,010 shares of the athletic footwear retailer’s stock valued at $1,277,000 after purchasing an additional 610 shares during the period. Finally, SummerHaven Investment Management LLC lifted its stake in Foot Locker by 2.5% during the second quarter. SummerHaven Investment Management LLC now owns 27,671 shares of the athletic footwear retailer’s stock worth $690,000 after purchasing an additional 667 shares in the last quarter.

Insider Activity

In related news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $32.93, for a total transaction of $8,129,955.98. Following the transaction, the insider now owns 11,146,292 shares of the company’s stock, valued at $367,047,395.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 787,566 shares of company stock valued at $26,090,866 in the last three months. 1.20% of the stock is currently owned by company insiders.

Foot Locker Stock Up 0.5 %

FL opened at $27.48 on Wednesday. Foot Locker, Inc. has a 52 week low of $16.68 and a 52 week high of $35.60. The business has a 50 day moving average price of $28.65 and a two-hundred day moving average price of $25.62. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last issued its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. On average, equities research analysts predict that Foot Locker, Inc. will post 1.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FL. Barclays upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $27.00 to $34.00 in a report on Thursday, August 29th. Telsey Advisory Group reissued a “market perform” rating and issued a $27.00 price objective on shares of Foot Locker in a research note on Wednesday, August 28th. Wedbush reaffirmed a “neutral” rating and set a $25.00 target price on shares of Foot Locker in a research note on Wednesday, June 12th. StockNews.com downgraded shares of Foot Locker from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Finally, Morgan Stanley lowered shares of Foot Locker from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $24.00 to $18.00 in a report on Thursday, July 18th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.40.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.