Shares of Express, Inc. (NYSE:EXPR) dropped 8.4% during trading on Thursday . The company traded as low as $4.95 and last traded at $5.13. Approximately 4,512,112 shares were traded during mid-day trading, an increase of 74% from the average daily volume of 2,597,137 shares. The stock had previously closed at $5.60.
A number of equities research analysts have recently issued reports on the company. ValuEngine lowered Express from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. B. Riley set a $7.00 target price on Express and gave the stock a “hold” rating in a research report on Friday, November 30th. Zacks Investment Research lowered Express from a “buy” rating to a “hold” rating in a research report on Tuesday, December 4th. MKM Partners set a $6.00 target price on Express and gave the stock a “hold” rating in a research report on Thursday, December 6th. Finally, Wedbush cut their target price on Express from $10.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $7.00.
The firm has a market cap of $372.11 million, a price-to-earnings ratio of 14.25 and a beta of 1.19.
In other news, major shareholder Contrarius Investment Manageme sold 240,425 shares of Express stock in a transaction on Thursday, December 20th. The stock was sold at an average price of $5.36, for a total transaction of $1,288,678.00. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.20% of the company’s stock.
Several hedge funds have recently modified their holdings of EXPR. Pacer Advisors Inc. grew its stake in Express by 215.2% in the third quarter. Pacer Advisors Inc. now owns 15,931 shares of the company’s stock valued at $176,000 after purchasing an additional 10,876 shares in the last quarter. Kessler Investment Group LLC purchased a new position in Express in the third quarter valued at about $179,000. United Services Automobile Association grew its stake in Express by 54.1% in the second quarter. United Services Automobile Association now owns 24,266 shares of the company’s stock valued at $222,000 after purchasing an additional 8,521 shares in the last quarter. SG Americas Securities LLC grew its stake in Express by 71.9% in the third quarter. SG Americas Securities LLC now owns 20,533 shares of the company’s stock valued at $227,000 after purchasing an additional 8,585 shares in the last quarter. Finally, Man Group plc purchased a new position in Express in the third quarter valued at about $262,000.
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About Express (NYSE:EXPR)
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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