Express Target of Unusually High Options Trading (EXPR)
Express, Inc. (NYSE:EXPR) saw some unusual options trading activity on Tuesday. Traders purchased 10,532 put options on the stock. This is an increase of approximately 1,183% compared to the typical daily volume of 821 put options.
Institutional investors have recently modified their holdings of the stock. FNY Partners Fund LP increased its position in shares of Express by 4,733.3% in the first quarter. FNY Partners Fund LP now owns 29,000 shares of the company’s stock valued at $264,000 after buying an additional 28,400 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Express during the first quarter valued at $1,229,000. Credit Suisse AG increased its position in shares of Express by 89.6% in the first quarter. Credit Suisse AG now owns 328,218 shares of the company’s stock valued at $2,991,000 after buying an additional 155,068 shares in the last quarter. Tudor Investment Corp ET AL increased its position in shares of Express by 175.9% in the first quarter. Tudor Investment Corp ET AL now owns 92,704 shares of the company’s stock valued at $845,000 after buying an additional 59,104 shares in the last quarter. Finally, Paloma Partners Management Co boosted its stake in Express by 12.9% in the first quarter. Paloma Partners Management Co now owns 129,367 shares of the company’s stock valued at $1,179,000 after buying an additional 14,816 shares during the last quarter. 96.11% of the stock is currently owned by institutional investors and hedge funds.
Shares of Express (NYSE:EXPR) opened at 7.61 on Friday. The company’s 50-day moving average is $8.53 and its 200-day moving average is $10.51. The company has a market cap of $596.73 million, a price-to-earnings ratio of 10.42 and a beta of 1.57. Express has a 12-month low of $7.54 and a 12-month high of $16.88.
Express (NYSE:EXPR) last issued its quarterly earnings results on Wednesday, March 8th. The company reported $0.29 earnings per share for the quarter, meeting the consensus estimate of $0.29. Express had a net margin of 3.98% and a return on equity of 15.68%. The business had revenue of $678.80 million for the quarter, compared to the consensus estimate of $675.07 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. Equities research analysts predict that Express will post $0.68 earnings per share for the current year.
Several analysts have recently issued reports on the stock. MKM Partners reissued a “neutral” rating and issued a $10.00 price target (down previously from $11.00) on shares of Express in a research report on Monday, March 13th. Wedbush reissued a “neutral” rating and issued a $9.00 price target (down previously from $11.00) on shares of Express in a research report on Saturday, March 11th. Mizuho lowered shares of Express from a “buy” rating to a “neutral” rating and lowered their price target for the company from $15.00 to $10.00 in a research report on Thursday, March 9th. Finally, FBR & Co reissued a “hold” rating and issued a $9.00 price target on shares of Express in a research report on Wednesday, March 15th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. Express has an average rating of “Hold” and an average target price of $12.50.
Express, Inc is a specialty apparel and accessories retailer offering both women’s and men’s merchandise. The Company targets women and men between 20 and 30 years old. It offers an assortment of fashionable apparel and accessories to address fashion needs across multiple aspects of lifestyles, including work, casual, jeanswear and going-out occasions.
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