Stock Traders Purchase Large Volume of Express Call Options (EXPR)
Express, Inc. (NYSE:EXPR) saw some unusual options trading on Thursday. Stock investors acquired 5,999 call options on the stock. This represents an increase of 1,150% compared to the typical volume of 480 call options.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its holdings in Express by 77.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 15,361 shares of the company’s stock worth $103,000 after buying an additional 6,711 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Express by 21.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 16,017 shares of the company’s stock worth $146,000 after buying an additional 2,795 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in Express in the 2nd quarter worth approximately $114,000. Municipal Employees Retirement System of Michigan lifted its holdings in Express by 3.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 18,490 shares of the company’s stock worth $125,000 after buying an additional 620 shares during the period. Finally, Hartford Investment Management Co. lifted its stake in shares of Express by 96.3% in the 2nd quarter. Hartford Investment Management Co. now owns 21,000 shares of the company’s stock valued at $142,000 after purchasing an additional 10,300 shares during the period. Institutional investors and hedge funds own 98.60% of the company’s stock.
Shares of Express (EXPR) opened at $10.14 on Friday. Express has a fifty-two week low of $5.28 and a fifty-two week high of $12.40. The firm has a market capitalization of $767.53, a P/E ratio of 31.42 and a beta of 1.53.
Express announced that its board has authorized a stock repurchase program on Thursday, November 30th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
Several equities research analysts recently weighed in on EXPR shares. BMO Capital Markets set a $7.00 target price on Express and gave the company a “hold” rating in a report on Tuesday, August 8th. BidaskClub upgraded Express from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded Express from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. FBR & Co restated a “hold” rating and set a $7.00 target price on shares of Express in a report on Friday, September 29th. Finally, SunTrust Banks restated a “hold” rating and set a $6.00 target price on shares of Express in a report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $8.85.
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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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