Arrowstreet Capital Limited Partnership Has $10.93 Million Position in Express, Inc. (EXPR)
Arrowstreet Capital Limited Partnership lessened its stake in Express, Inc. (NYSE:EXPR) by 47.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,619,537 shares of the company’s stock after selling 1,433,741 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 2.06% of Express worth $10,932,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its stake in Express by 77.6% in the second quarter. State of Alaska Department of Revenue now owns 15,361 shares of the company’s stock valued at $103,000 after purchasing an additional 6,711 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Express in the second quarter valued at about $119,000. Municipal Employees Retirement System of Michigan raised its stake in Express by 3.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 18,490 shares of the company’s stock valued at $125,000 after purchasing an additional 620 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in Express in the first quarter valued at about $131,000. Finally, Karp Capital Management Corp acquired a new position in Express in the first quarter valued at about $132,000. 99.23% of the stock is owned by institutional investors and hedge funds.
Shares of Express, Inc. (NYSE EXPR) traded up 1.616% on Friday, reaching $5.975. The company’s stock had a trading volume of 443,576 shares. Express, Inc. has a 12 month low of $5.28 and a 12 month high of $14.39. The stock has a market cap of $470.75 million, a P/E ratio of 25.978 and a beta of 1.47. The firm’s 50-day moving average price is $6.58 and its 200-day moving average price is $7.09.
Express (NYSE:EXPR) last issued its quarterly earnings results on Wednesday, August 23rd. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The firm had revenue of $478.50 million during the quarter, compared to the consensus estimate of $474.11 million. Express had a return on equity of 4.25% and a net margin of 0.85%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.13 EPS. On average, analysts forecast that Express, Inc. will post $0.43 earnings per share for the current fiscal year.
A number of research analysts recently commented on the company. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $6.00 price target on shares of Express in a research note on Monday, October 2nd. FBR & Co reaffirmed a “hold” rating and issued a $7.00 price target on shares of Express in a research note on Friday, September 29th. BidaskClub raised Express from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 9th. BMO Capital Markets set a $7.00 price target on Express and gave the company a “hold” rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research raised Express from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Express presently has a consensus rating of “Hold” and a consensus target price of $8.25.
Express, Inc is a specialty apparel and accessories retailer offering both women’s and men’s merchandise. The Company targets women and men between 20 and 30 years old. It offers an assortment of fashionable apparel and accessories to address fashion needs across multiple aspects of lifestyles, including work, casual, jeanswear and going-out occasions.
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