Chico’s FAS (NYSE:CHS) Shares Gap Down After Insider Selling

Chico’s FAS, Inc. (NYSE:CHS – Get Rating) shares gapped down before the market opened on Friday after an insider sold shares in the company. The stock had previously closed at $6.30, but opened at $5.97. Chico’s FAS shares last traded at $5.89, with a volume of 475,060 shares.

Specifically, Director Bonnie R. Brooks sold 69,600 shares of the stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $6.28, for a total transaction of $437,088.00. Following the sale, the director now directly owns 704,640 shares in the company, valued at approximately $4,425,139.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Bonnie R. Brooks sold 30,400 shares of the stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $6.15, for a total value of $186,960.00. Following the completion of the transaction, the director now directly owns 774,240 shares of the company’s stock, valued at approximately $4,761,576. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bonnie R. Brooks sold 69,600 shares of the stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $6.28, for a total value of $437,088.00. Following the completion of the transaction, the director now directly owns 704,640 shares of the company’s stock, valued at $4,425,139.20. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

CHS has been the subject of a number of research reports. StockNews.com initiated coverage on Chico’s FAS in a research note on Thursday. They set a “buy” rating for the company. TheStreet lowered Chico’s FAS from a “b-” rating to a “c” rating in a research note on Tuesday, November 22nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 price target on shares of Chico’s FAS in a research note on Tuesday, February 28th.

Chico’s FAS Price Performance

The business has a 50-day moving average price of $5.32 and a 200 day moving average price of $5.42. The company has a market cap of $731.66 million, a price-to-earnings ratio of 6.65 and a beta of 1.23. The company has a current ratio of 1.14, a quick ratio of 0.53 and a debt-to-equity ratio of 0.15.

Institutional Investors Weigh In On Chico’s FAS

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Chico’s FAS by 0.8% in the third quarter. BlackRock Inc. now owns 20,334,520 shares of the specialty retailer’s stock valued at $98,420,000 after purchasing an additional 160,139 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Chico’s FAS by 9.3% in the third quarter. Vanguard Group Inc. now owns 9,151,107 shares of the specialty retailer’s stock valued at $44,292,000 after purchasing an additional 777,773 shares in the last quarter. State Street Corp raised its holdings in shares of Chico’s FAS by 3.5% during the second quarter. State Street Corp now owns 5,167,296 shares of the specialty retailer’s stock worth $25,681,000 after acquiring an additional 174,982 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Chico’s FAS by 10.7% during the third quarter. Neuberger Berman Group LLC now owns 5,072,172 shares of the specialty retailer’s stock worth $24,521,000 after acquiring an additional 490,854 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. raised its holdings in shares of Chico’s FAS by 19.1% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 4,793,700 shares of the specialty retailer’s stock worth $23,585,000 after acquiring an additional 768,600 shares in the last quarter. Institutional investors and hedge funds own 88.59% of the company’s stock.

About Chico’s FAS

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Chico’s FAS, Inc engages in the retail of women’s private branded, sophisticated, casual-to-dressy apparel, intimates, and complementary accessories. The firm’s product portfolio consists of the following brands: Chico’s, Soma, and White House Black Market. It also operates boutiques, retail stores, and websites to sell the products.