Chico’s FAS (NYSE:CHS) Shares Gap Down Following Insider Selling

Chico’s FAS, Inc. (NYSE:CHS – Get Rating) gapped down before the market opened on Friday following insider selling activity. The stock had previously closed at $6.30, but opened at $5.97. Chico’s FAS shares last traded at $5.89, with a volume of 475,060 shares trading hands.

Specifically, Director Bonnie R. Brooks sold 69,600 shares of the stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $6.28, for a total transaction of $437,088.00. Following the completion of the sale, the director now directly owns 704,640 shares of the company’s stock, valued at approximately $4,425,139.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Bonnie R. Brooks sold 69,600 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $6.28, for a total value of $437,088.00. Following the completion of the sale, the director now directly owns 704,640 shares in the company, valued at $4,425,139.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bonnie R. Brooks sold 30,400 shares of Chico’s FAS stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $6.15, for a total value of $186,960.00. Following the completion of the sale, the director now owns 774,240 shares of the company’s stock, valued at $4,761,576. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CHS shares. TheStreet lowered Chico’s FAS from a “b-” rating to a “c” rating in a research report on Tuesday, November 22nd. Telsey Advisory Group reiterated a “market perform” rating and issued a $6.00 target price on shares of Chico’s FAS in a research report on Tuesday, February 28th. Finally, StockNews.com began coverage on Chico’s FAS in a research note on Thursday. They set a “buy” rating for the company.

Chico’s FAS Trading Down 7.1 %

The company has a 50 day moving average of $5.32 and a 200 day moving average of $5.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.53 and a current ratio of 1.14. The stock has a market capitalization of $731.66 million, a price-to-earnings ratio of 6.65 and a beta of 1.23.

Institutional Trading of Chico’s FAS

Large investors have recently added to or reduced their stakes in the stock. Brandywine Global Investment Management LLC raised its position in Chico’s FAS by 36.5% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 168,129 shares of the specialty retailer’s stock valued at $814,000 after purchasing an additional 44,921 shares in the last quarter. Teacher Retirement System of Texas raised its position in Chico’s FAS by 934.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 198,769 shares of the specialty retailer’s stock valued at $962,000 after purchasing an additional 179,561 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in Chico’s FAS by 36.1% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 867,434 shares of the specialty retailer’s stock valued at $4,198,000 after purchasing an additional 230,112 shares in the last quarter. Northside Capital Management LLC raised its position in Chico’s FAS by 189.7% in the 3rd quarter. Northside Capital Management LLC now owns 181,924 shares of the specialty retailer’s stock valued at $881,000 after purchasing an additional 119,124 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in Chico’s FAS by 25.2% in the 3rd quarter. Pacer Advisors Inc. now owns 2,693,220 shares of the specialty retailer’s stock valued at $13,035,000 after purchasing an additional 541,437 shares in the last quarter. 88.59% of the stock is currently owned by hedge funds and other institutional investors.

About Chico’s FAS

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Chico’s FAS, Inc engages in the retail of women’s private branded, sophisticated, casual-to-dressy apparel, intimates, and complementary accessories. The firm’s product portfolio consists of the following brands: Chico’s, Soma, and White House Black Market. It also operates boutiques, retail stores, and websites to sell the products.