Quantitative Systematic Strategies LLC acquired a new position in shares of Express Inc. (NYSE:EXPR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 117,027 shares of the company’s stock, valued at approximately $1,675,000. Express accounts for about 0.8% of Quantitative Systematic Strategies LLC’s investment portfolio, making the stock its 2nd largest position.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royce & Associates LP bought a new stake in Express during the first quarter worth $33,517,000. TIAA CREF Investment Management LLC boosted its stake in Express by 285.2% in the first quarter. TIAA CREF Investment Management LLC now owns 1,883,415 shares of the company’s stock worth $40,324,000 after buying an additional 1,394,451 shares during the last quarter. Bank of Montreal Can bought a new stake in Express during the second quarter worth $13,115,000. Hillcrest Asset Management LLC bought a new stake in Express during the first quarter worth $7,154,000. Finally, Panagora Asset Management Inc. boosted its stake in Express by 51.7% in the first quarter. Panagora Asset Management Inc. now owns 812,957 shares of the company’s stock worth $17,405,000 after buying an additional 276,912 shares during the last quarter. 99.31% of the stock is currently owned by institutional investors and hedge funds.
Express Inc. (NYSE:EXPR) traded up 3.17% during trading on Friday, reaching $13.01. 4,584,936 shares of the company traded hands. The firm’s 50 day moving average price is $12.34 and its 200 day moving average price is $15.42. Express Inc. has a 12-month low of $11.28 and a 12-month high of $21.57. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 10.06 and a beta of 1.56.
Express (NYSE:EXPR) last issued its quarterly earnings results on Wednesday, August 24th. The company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.04. The company earned $504.80 million during the quarter, compared to the consensus estimate of $520.81 million. Express had a return on equity of 18.62% and a net margin of 4.55%. Express’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. Equities research analysts expect that Express Inc. will post $1.05 earnings per share for the current year.
A number of research firms have weighed in on EXPR. Nomura decreased their target price on shares of Express from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 25th. Piper Jaffray Cos. cut shares of Express from an “overweight” rating to a “neutral” rating in a research note on Wednesday, August 24th. Argus reaffirmed a “hold” rating on shares of Express in a research note on Thursday, August 25th. MKM Partners decreased their target price on shares of Express from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, August 25th. Finally, Deutsche Bank AG cut shares of Express from a “buy” rating to a “hold” rating and decreased their target price for the stock from $19.00 to $12.00 in a research note on Wednesday, August 24th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Express has a consensus rating of “Hold” and an average price target of $16.53.
Express, Inc is a specialty apparel and accessories retailer offering both women’s and men’s merchandise, targeting the 20 to 30 year old customer. The Company offers an assortment of fashionable apparel and accessories to address fashion needs across multiple aspects of lifestyles, including work, casual, jeans wear and going-out occasions.