Big Lots (NYSE:BIG) Stock Plummets after SEC Begin Inquiry Over Chief Executive’s Trades – BIG, DG, ALCS, FDO

The Columbus, Ohio based Big Lots, Inc’s (NYSE:BIG) stock plunged around 10% over the previous 3 days after news that federal officials are inquiring stock trades by its Chief Executive Officer.

The Securities and Exchange Commission reported in a filing on Wednesday that, company said that Big Lots got a grand jury subpoena from the United States Attorney for the Southern District of New York on Nov 29 demanding information on trades by Chief Executive Officer Steven Fishman.

The Securities and Exchange Commission has also started its own inquiry on the issue. The Wall Street Journal published on Thursday by mentioning a person with knowledge about the issue that the Federal Bureau of Investigations and federal prosecutors were investigating whether Fishman had sold $10.3 million in stock in March based on an insider’s information of a coming negative corporate report.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Dollar General Corp. (NYSE:DG) rose +0.80% to settle at $46.80, Alco Stores Inc (NASDAQ:ALCS) moved up +0.40% to end at $9.63 while Family Dollar Stores, Inc. (NYSE:FDO) jumped +1.34% to finish at $71.00 on Friday.

Big Lots, Inc. (NYSE:BIG) last session’s volume of 3.36 million shares was higher than its average volume of 1.50 million shares. The stock after opening at $29.75 hit high price of $29.95 and then closed at $28.18 by scoring -5.72%.

BIG generated revenue of $5.32 billion in the previous twelve months and earned $181.86 million. The Company showed a positive 3.42% in the net profit margin as well as in its operating margin which remained at 5.78%. Company’s annual sales growth for the past five years was 1.87%.

The BIG’s past twelve months’ price to sales ratio was 0.32 and price to cash ratio remained 27.21. As far as the returns are concerned, BIG’s return on equity was recorded as 24.14% and return on investment increased 17.06% while its return on asset stayed at 10.94%.

The stock showed weekly upbeat performance of 0.07% which was maintained for the month at -7.82%. Likewise the negative performance for the quarter was recorded as -7.91% and for the year was -25.29% while the YTD performance remained at -25.37%.

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