Insider Selling: Childrens Place SVP Sells 7,000 Shares of Stock (PLCE)
Childrens Place (NASDAQ:PLCE) SVP Lawrence D. Mcclure sold 7,000 shares of the company’s stock on the open market in a transaction dated Monday, August 25th. The shares were sold at an average price of $53.91, for a total transaction of $377,370.00. Following the transaction, the senior vice president now directly owns 26,546 shares of the company’s stock, valued at approximately $1,431,095. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Childrens Place (NASDAQ:PLCE) traded up 0.71% during mid-day trading on Wednesday, hitting $54.28. 280,222 shares of the company’s stock traded hands. Childrens Place has a 52 week low of $44.54 and a 52 week high of $58.89. The stock has a 50-day moving average of $50.13 and a 200-day moving average of $49.96. The company has a market cap of $1.185 billion and a price-to-earnings ratio of 20.19.
Childrens Place (NASDAQ:PLCE) last posted its quarterly earnings results on Thursday, August 21st. The company reported ($0.37) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.45) by $0.08. The company had revenue of $384.60 million for the quarter, compared to the consensus estimate of $378.63 million. During the same quarter in the prior year, the company posted ($0.42) earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Analysts expect that Childrens Place will post $3.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.1325 per share. This represents a $0.53 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Wednesday, September 24th.
PLCE has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Childrens Place in a research note on Friday, August 22nd. They now have a $61.00 price target on the stock, up previously from $59.00. Separately, analysts at Telsey Advisory Group raised their price target on shares of Childrens Place from $55.00 to $58.00 in a research note on Friday, August 22nd. They now have a “not rated” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Childrens Place in a research note on Monday, August 18th. They now have a $52.00 price target on the stock, down previously from $54.00. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $54.22.
Childrens Place Inc(NASDAQ:PLCE), formerly The Children’s Place Retail Stores, Inc, is a pure-play children’s specialty apparel retailer in North America.
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