Foot Locker, Inc. (NYSE:FL) Sees Significant Increase in Short Interest

Foot Locker, Inc. (NYSE:FL) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 7,350,000 shares, a growth of 10.4% from the December 15th total of 6,660,000 shares. Currently, 8.8% of the company’s stock are short sold. Based on an average daily trading volume, of 3,480,000 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Moody National Bank Trust Division acquired a new position in shares of Foot Locker during the 4th quarter worth approximately $610,000. Geode Capital Management LLC grew its stake in Foot Locker by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock worth $49,319,000 after acquiring an additional 25,394 shares during the period. Intech Investment Management LLC purchased a new stake in Foot Locker in the 3rd quarter worth approximately $829,000. Renaissance Technologies LLC purchased a new stake in Foot Locker in the 2nd quarter worth approximately $1,024,000. Finally, Versor Investments LP purchased a new stake in Foot Locker in the 3rd quarter worth approximately $793,000.

Foot Locker Stock Performance

NYSE:FL traded up $0.14 during mid-day trading on Monday, reaching $20.44. The stock had a trading volume of 2,852,006 shares, compared to its average volume of 2,618,273. The business has a 50 day simple moving average of $22.44 and a 200 day simple moving average of $25.14. Foot Locker has a twelve month low of $19.33 and a twelve month high of $35.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -4.53, a PEG ratio of 0.81 and a beta of 1.49.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the business posted $0.30 earnings per share. Foot Locker’s revenue was down 1.4% on a year-over-year basis. On average, analysts expect that Foot Locker will post 1.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FL has been the topic of several recent analyst reports. Telsey Advisory Group dropped their target price on Foot Locker from $30.00 to $24.00 and set a “market perform” rating on the stock in a report on Thursday, December 5th. Piper Sandler dropped their price objective on Foot Locker from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Robert W. Baird dropped their price objective on Foot Locker from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Gordon Haskett began coverage on Foot Locker in a report on Monday, October 7th. They set an “accumulate” rating and a $27.00 price objective on the stock. Finally, UBS Group dropped their price objective on Foot Locker from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $25.18.

Foot Locker Company Profile

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.