Investing

Mill Road Capital III Sells Most of its 5.1% Big Lots (BIG) Stake

Mill Road Capital III, L.P. revealed Tuesday in a 13D/A form filed with the SEC that it sold most of its previous 5.1%, or 157,351 share Big Lots, Inc. (US:BIG) stake, retaining just a 0.5% position.

In March, Mill Road unveiled its initial stake and, in a letter to Big Lots’ shareholders, supported management. At the same time, it encouraged the company board to create a special committee to shop the off-price retailer.

What are other large shareholders doing?

BlackRock Inc. holds 4,861,517 shares representing 16.80% ownership of the company. In its prior filing, the firm reported owning 5,041,996 shares, representing a decrease of 3.71%. The firm decreased its portfolio allocation in BIG by 94.42% over the last quarter.

Fmr Llc holds 4,153,245 shares representing 14.35% ownership of the company. In its prior filing, the firm reported owning 3,588,985 shares, representing an increase of 13.59%. The firm decreased its portfolio allocation in BIG by 12.53% over the last quarter.

Vanguard Group Inc holds 3,209,954 shares representing 11.09% ownership of the company. In its prior filing, the firm reported owning 3,543,031 shares, representing a decrease of 10.38%. The firm decreased its portfolio allocation in BIG by 34.75% over the last quarter.

Dimensional Fund Advisors Lp holds 2,102,692 shares representing 7.27% ownership of the company. In its prior filing, the firm reported owning 1,923,315 shares, representing an increase of 8.53%. The firm decreased its portfolio allocation in BIG by 22.85% over the last quarter.

IJR – iShares Core S&P Small-Cap ETF holds 1,994,763 shares representing 6.89% ownership of the company. In it’s prior filing, the firm reported owning 2,187,120 shares, representing a decrease of 9.64%. The firm decreased its portfolio allocation in BIG by 33.50% over the last quarter.

What is the overall institutional sentiment?

There are 490 funds or institutions reporting positions in Big Lots, Inc. This is a decrease of 33 owner(s) or 6.31%.

The average portfolio weight of all funds dedicated to Big Lots, Inc. is 0.1383%, a decrease of 8.6019%. Total shares owned by institutions increased in the last three months by 8.89% to 37,777,888 shares.

Based on this information, institutional sentiment is bearish.

This article originally appeared on Fintel

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