Acadian Asset Management LLC acquired a new position in shares of Express, Inc. (NYSE:EXPR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 287,025 shares of the company’s stock, valued at approximately $3,174,000. Acadian Asset Management LLC owned 0.39% of Express at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in EXPR. Granite Investment Partners LLC acquired a new stake in Express during the 2nd quarter worth about $12,679,000. Contrarius Investment Management Ltd boosted its position in Express by 15.3% during the 2nd quarter. Contrarius Investment Management Ltd now owns 6,773,637 shares of the company’s stock worth $61,979,000 after acquiring an additional 897,275 shares during the period. Spark Investment Management LLC boosted its position in Express by 150.1% during the 2nd quarter. Spark Investment Management LLC now owns 1,102,000 shares of the company’s stock worth $10,083,000 after acquiring an additional 661,400 shares during the period. Canada Pension Plan Investment Board boosted its position in Express by 83.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,196,300 shares of the company’s stock worth $10,946,000 after acquiring an additional 543,100 shares during the period. Finally, Cortina Asset Management LLC acquired a new stake in Express during the 2nd quarter worth about $3,851,000.
Separately, B. Riley raised their price objective on Express from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, August 30th. Six research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus price target of $9.40.
Shares of Express stock opened at $9.20 on Friday. The stock has a market cap of $698.59 million, a PE ratio of 25.56 and a beta of 1.09. Express, Inc. has a 52-week low of $6.17 and a 52-week high of $11.69.
Express (NYSE:EXPR) last announced its quarterly earnings results on Wednesday, August 29th. The company reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $493.60 million during the quarter, compared to analyst estimates of $482.37 million. Express had a return on equity of 5.64% and a net margin of 1.78%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 EPS. Sell-side analysts anticipate that Express, Inc. will post 0.47 earnings per share for the current year.
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Express, Inc operates as a specialty apparel and accessories retailer. It offers apparel and accessories for women and men between 20 and 30 years across various aspects of lifestyles, including work, casual, jeanswear, and going-out occasions. The company sells its products through its e-commerce Website, express.com; mobile app; and franchisees Express locations in Latin America.
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