Insider Buying: The Wet Seal Director Purchases 30,000 Shares of Stock (WTSL)
The Wet Seal (NASDAQ:WTSL) Director Adam Rothstein acquired 30,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, June 26th. The stock was purchased at an average price of $0.88 per share, for a total transaction of $26,400.00. Following the completion of the acquisition, the director now directly owns 150,000 shares in the company, valued at approximately $132,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on WTSL shares. Analysts at B. Riley upgraded shares of The Wet Seal from a “sell” rating to a “neutral” rating in a research note on Monday. They now have a $0.90 price target on the stock, up previously from $0.50. Analysts at Zacks reiterated a “neutral” rating on shares of The Wet Seal in a research note on Tuesday, April 29th. They now have a $1.25 price target on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $2.29.
The Wet Seal (NASDAQ:WTSL) opened at 1.02 on Wednesday. The Wet Seal has a one year low of $0.80 and a one year high of $5.09. The stock has a 50-day moving average of $0.89 and a 200-day moving average of $1.60. The company’s market cap is $86.2 million.
The Wet Seal (NASDAQ:WTSL) last released its earnings data on Tuesday, May 27th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). The company had revenue of $116.70 million for the quarter, compared to the consensus estimate of $117.40 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was down 16.9% on a year-over-year basis. Analysts expect that The Wet Seal will post $-0.42 EPS 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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