Trimming Burlington Stores After This Week's Big Move
| Symbol | Action | # Shares Traded | Recent Price | % of Portfolio* | Shares Owned* |
|---|---|---|---|---|---|
SELL | 50 | $205.95 | 2.51% | 350 |
TheStreet
After you receive this Alert, we will be selling 50 shares of Burlington Stores (BURL) at roughly $205.95. Following the trade, BURL (350 shares) will represent 2.51% of the portfolio.
During Thursday's Daily Rundown, that you can watch here, Jim was asked if now is the time to trim Burlington Stores. The stock has made a huge move so far this week, gaining about 7% compared to the S&P 500's roughly 0.85% move. After a little more reflection and the stock above $205 per share, we have decided to trim BURL this afternoon at our highest sale price to date.
With Burlington set to report earnings later this month, we note that this trade does not represent a call on the quarter. In fact, we are thinking that the quarter could actually be pretty good based on the fieldwork JP Morgan retail analyst Matthew Boss did. You may recall we wrote about this last week in our Alert here.
But with the market up big once again, we think the disciplined move is to book some profits. We simply don't want to be greedy at these all-time highs. We will realize a gain of about 13% with this sale.
Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long BURL.