The Wet Seal Director Purchases $22,400 in Stock (WTSL)
The Wet Seal (NASDAQ:WTSL) Director Adam Rothstein purchased 20,000 shares of The Wet Seal stock on the open market in a transaction that occurred on Monday, April 14th. The shares were purchased at an average price of $1.12 per share, with a total value of $22,400.00. Following the completion of the transaction, the director now directly owns 120,000 shares in the company, valued at approximately $134,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
WTSL has been the subject of a number of recent research reports. Analysts at UBS AG cut their price target on shares of The Wet Seal to $2.10 in a research note on Monday, March 24th. They now have a “sell” rating on the stock. Separately, analysts at B. Riley downgraded shares of The Wet Seal from a “neutral” rating to a “sell” rating in a research note on Monday, March 24th. They now have a $0.50 price target on the stock, down previously from $2.10. Finally, analysts at Brean Capital cut their price target on shares of The Wet Seal from $3.00 to $2.00 in a research note on Friday, March 21st. They now have a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The Wet Seal presently has an average rating of “Hold” and an average target price of $3.35.
The Wet Seal (NASDAQ:WTSL) remained flat at $1.09 during during mid-day trading trading on Tuesday. The stock had a trading volume of 2,242,239 shares. The Wet Seal has a one year low of $1.08 and a one year high of $5.20. The stock has a 50-day moving average of $1.54 and a 200-day moving average of $2.54. The company’s market cap is $92.3 million. The Wet Seal also saw a significant growth in short interest during the month of January. As of March 31st, there was short interest totalling 5,348,593 shares, a growth of 66.6% from the March 14th total of 3,210,129 shares. Currently, 6.7% of the company’s shares are sold short. Based on an average daily trading volume, of 3,177,464 shares, the days-to-cover ratio is presently 1.7 days.
The Wet Seal (NASDAQ:WTSL) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.23) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.24) by $0.01. The company had revenue of $124.80 million for the quarter, compared to the consensus estimate of $134.74 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. On average, analysts predict that The Wet Seal will post $-0.31 earnings per share for the current fiscal year.
The Wet Seal, Inc is a specialty retailer operating stores selling apparel and accessory items designed for female customers aged 15 to 39 years old.
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