Bank of America Corp DE reduced its stake in Express, Inc. (NYSE:EXPR) by 48.5% during the second quarter, HoldingsChannel.com reports. The fund owned 275,679 shares of the company’s stock after selling 259,199 shares during the quarter. Bank of America Corp DE’s holdings in Express were worth $753,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. A.R.T. Advisors LLC bought a new stake in Express in the 2nd quarter valued at $422,000. Invesco Ltd. increased its holdings in Express by 23.1% in the 2nd quarter. Invesco Ltd. now owns 1,478,744 shares of the company’s stock valued at $4,037,000 after acquiring an additional 277,134 shares during the last quarter. Quinn Opportunity Partners LLC increased its holdings in Express by 142.2% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 3,050,890 shares of the company’s stock valued at $8,329,000 after acquiring an additional 1,791,095 shares during the last quarter. BlackRock Inc. increased its holdings in Express by 1.7% in the 2nd quarter. BlackRock Inc. now owns 10,336,429 shares of the company’s stock valued at $28,219,000 after acquiring an additional 167,871 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Express by 19.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 339,106 shares of the company’s stock valued at $926,000 after acquiring an additional 55,364 shares during the last quarter.
Express stock opened at $3.26 on Tuesday. The company’s 50-day moving average price is $3.06 and its 200-day moving average price is $2.89. Express, Inc. has a twelve month low of $1.83 and a twelve month high of $9.64. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 1.78. The company has a market cap of $211.89 million, a PE ratio of 10.19 and a beta of 0.98.
Express (NYSE:EXPR) last posted its earnings results on Wednesday, August 28th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Express had a negative net margin of 0.62% and a positive return on equity of 0.34%. The firm had revenue of $472.70 million for the quarter, compared to the consensus estimate of $458.67 million. During the same period in the previous year, the firm posted $0.03 EPS. The business’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, sell-side analysts expect that Express, Inc. will post -0.24 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on EXPR shares. Zacks Investment Research downgraded shares of Express from a “buy” rating to a “hold” rating in a report on Monday, August 12th. MKM Partners set a $3.00 target price on shares of Express and gave the stock a “hold” rating in a report on Thursday, August 29th. Wedbush reduced their target price on shares of Express from $4.00 to $2.00 and set a “neutral” rating on the stock in a report on Tuesday, August 27th. B. Riley set a $4.00 target price on shares of Express and gave the stock a “hold” rating in a report on Tuesday, August 20th. Finally, ValuEngine upgraded shares of Express from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Express presently has a consensus rating of “Hold” and an average target price of $3.40.
Express, Inc operates as an apparel and accessories retailer. It offers apparel and accessories for women and men for work, casual, jeanswear, and going-out occasions. The company sells its products through its e-commerce Website, express.com; and mobile app, as well as franchisees Express locations in Latin America.
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