Cadence Capital Management LLC Acquires New Stake in New York & Company, Inc. (NWY)

Cadence Capital Management LLC acquired a new position in New York & Company, Inc. (NYSE:NWY) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 504,565 shares of the specialty retailer’s stock, valued at approximately $1,948,000. Cadence Capital Management LLC owned approximately 0.78% of New York & Company, Inc. as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Engineers Gate Manager LP raised its position in New York & Company, Inc. by 52.0% in the third quarter. Engineers Gate Manager LP now owns 41,291 shares of the specialty retailer’s stock worth $159,000 after acquiring an additional 14,131 shares in the last quarter. Essex Investment Management Co. LLC grew its holdings in New York & Company, Inc. by 4.3% in the third quarter. Essex Investment Management Co. LLC now owns 450,725 shares of the specialty retailer’s stock valued at $1,740,000 after purchasing an additional 18,479 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in New York & Company, Inc. by 61.0% in the first quarter. JPMorgan Chase & Co. now owns 65,640 shares of the specialty retailer’s stock valued at $222,000 after purchasing an additional 24,870 shares during the last quarter. Rhumbline Advisers acquired a new stake in New York & Company, Inc. in the second quarter valued at $142,000. Finally, Mackay Shields LLC grew its holdings in New York & Company, Inc. by 156.9% in the second quarter. Mackay Shields LLC now owns 50,100 shares of the specialty retailer’s stock valued at $257,000 after purchasing an additional 30,600 shares during the last quarter. Hedge funds and other institutional investors own 38.80% of the company’s stock.

New York & Company, Inc. stock opened at $4.20 on Friday. The firm has a market capitalization of $261.27 million, a price-to-earnings ratio of 42.00 and a beta of 1.16. New York & Company, Inc. has a fifty-two week low of $1.77 and a fifty-two week high of $5.55.

New York & Company, Inc. (NYSE:NWY) last posted its earnings results on Thursday, August 23rd. The specialty retailer reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03. The company had revenue of $216.37 million for the quarter, compared to analyst estimates of $216.61 million. New York & Company, Inc. had a return on equity of 15.71% and a net margin of 1.21%. Equities research analysts forecast that New York & Company, Inc. will post 0.2 EPS for the current fiscal year.

NWY has been the topic of several research reports. TheStreet raised New York & Company, Inc. from a “c+” rating to a “b-” rating in a report on Wednesday, August 15th. ValuEngine raised New York & Company, Inc. from a “hold” rating to a “buy” rating in a report on Monday, August 20th.

COPYRIGHT VIOLATION NOTICE: “Cadence Capital Management LLC Acquires New Stake in New York & Company, Inc. (NWY)” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this story can be read at https://www.americanbankingnews.com/2018/11/10/cadence-capital-management-llc-acquires-new-stake-in-new-york-company-inc-nwy.html.

About New York & Company, Inc.

New York & Company, Inc operates as a specialty retailer of women's fashion apparel and accessories in the United States. It offers a merchandise assortment, including wear-to-work, casual apparel, and accessories comprising pants, dresses, jackets, knit tops, blouses, sweaters, denims, T-shirts, active wear, handbags, jewelry, and shoes under the New York & Company, NY&C, NY Style, Soho New York & Company Jeans, Lerner, Lerner New York, and Fashion to Figure brand names for women between the ages of 25 and 49.

Recommended Story: Call Option

Want to see what other hedge funds are holding NWY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New York & Company, Inc. (NYSE:NWY).

Institutional Ownership by Quarter for New York & Company, Inc. (NYSE:NWY)

Receive News & Ratings for New York & Company Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York & Company Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply