StockNews.com started coverage on shares of Cato (NYSE:CATO – Get Rating) in a report published on Thursday morning. The brokerage issued a hold rating on the specialty retailer’s stock.
Separately, TheStreet downgraded shares of Cato from a c rating to a d+ rating in a report on Thursday, November 17th.
Cato Trading Down 0.9 %
Shares of Cato stock opened at $8.62 on Thursday. Cato has a 12-month low of $8.40 and a 12-month high of $15.83. The company has a market cap of $182.57 million, a price-to-earnings ratio of -53.88 and a beta of 1.02. The company’s 50-day moving average price is $9.60 and its 200-day moving average price is $9.91.
Cato Announces Dividend
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its position in shares of Cato by 78.2% in the third quarter. Tower Research Capital LLC TRC now owns 2,831 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 1,242 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in Cato during the third quarter valued at approximately $55,000. Newbridge Financial Services Group Inc. grew its position in Cato by 94.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,170 shares of the specialty retailer’s stock valued at $58,000 after acquiring an additional 3,000 shares during the last quarter. BNP Paribas Arbitrage SNC grew its position in Cato by 64.8% during the third quarter. BNP Paribas Arbitrage SNC now owns 8,901 shares of the specialty retailer’s stock valued at $85,000 after acquiring an additional 3,499 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new position in Cato during the fourth quarter valued at approximately $91,000. 52.06% of the stock is currently owned by institutional investors.
The Cato Corp. engages in the operation of apparel and accessories specialty stores. It operates through the following segments: Retail and Credit. The Retail segment includes the retailing of women’s apparel, shoes, and accessories. The Credit segment offers credit card and credit authorization services.
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