Harvest Capital Strategies LLC boosted its holdings in Express, Inc. (NYSE:EXPR) by 96.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,550,000 shares of the company’s stock after purchasing an additional 1,250,000 shares during the period. Express comprises 4.5% of Harvest Capital Strategies LLC’s portfolio, making the stock its 3rd largest position. Harvest Capital Strategies LLC owned 3.24% of Express worth $25,883,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of EXPR. Public Employees Retirement System of Ohio raised its stake in Express by 29.5% during the second quarter. Public Employees Retirement System of Ohio now owns 20,739 shares of the company’s stock valued at $140,000 after buying an additional 4,722 shares in the last quarter. Alambic Investment Management L.P. acquired a new stake in Express during the fourth quarter valued at approximately $147,000. Municipal Employees Retirement System of Michigan raised its stake in Express by 59.1% during the third quarter. Municipal Employees Retirement System of Michigan now owns 29,420 shares of the company’s stock valued at $199,000 after buying an additional 10,930 shares in the last quarter. FNY Managed Accounts LLC acquired a new stake in Express during the third quarter valued at approximately $201,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Express during the third quarter valued at approximately $206,000. 99.08% of the stock is owned by hedge funds and other institutional investors.
Express, Inc. (NYSE:EXPR) opened at $7.80 on Wednesday. Express, Inc. has a fifty-two week low of $5.28 and a fifty-two week high of $11.34. The stock has a market capitalization of $580.03, a P/E ratio of 46.25 and a beta of 0.94.
Express declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 30th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Several brokerages have issued reports on EXPR. Zacks Investment Research upgraded Express from a “sell” rating to a “hold” rating in a research note on Tuesday. SunTrust Banks cut their price objective on Express to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, January 10th. BMO Capital Markets set a $10.00 price target on Express and gave the stock a “hold” rating in a research report on Friday, December 1st. B. Riley increased their price target on Express from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, November 30th. Finally, TheStreet upgraded Express from a “d+” rating to a “c-” rating in a research report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $8.75.
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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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