Alliancebernstein L.P. reduced its position in shares of Express, Inc. (NYSE:EXPR) by 3.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,760 shares of the company’s stock after selling 4,500 shares during the period. Alliancebernstein L.P. owned 0.14% of Express worth $1,000,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EXPR. Dynamic Technology Lab Private Ltd acquired a new position in Express during the first quarter worth $192,000. Neuberger Berman Group LLC increased its position in Express by 3.6% in the first quarter. Neuberger Berman Group LLC now owns 1,316,689 shares of the company’s stock worth $11,995,000 after buying an additional 45,476 shares during the period. Arizona State Retirement System increased its position in Express by 1.2% in the first quarter. Arizona State Retirement System now owns 40,900 shares of the company’s stock worth $373,000 after buying an additional 500 shares during the period. JPMorgan Chase & Co. increased its position in Express by 5.8% in the first quarter. JPMorgan Chase & Co. now owns 475,893 shares of the company’s stock worth $4,336,000 after buying an additional 25,995 shares during the period. Finally, Quantbot Technologies LP increased its position in Express by 710.7% in the first quarter. Quantbot Technologies LP now owns 73,123 shares of the company’s stock worth $666,000 after buying an additional 64,103 shares during the period. 91.81% of the stock is owned by institutional investors and hedge funds.
Express, Inc. (NYSE:EXPR) opened at 5.70 on Friday. The firm has a 50-day moving average of $6.19 and a 200 day moving average of $8.13. Express, Inc. has a 12-month low of $5.51 and a 12-month high of $16.38. The company has a market capitalization of $447.14 million, a price-to-earnings ratio of 11.18 and a beta of 1.44.
Express (NYSE:EXPR) last released its quarterly earnings results on Thursday, June 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.05. The firm had revenue of $467.03 million for the quarter, compared to the consensus estimate of $468 million. Express had a net margin of 1.85% and a return on equity of 5.83%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Analysts expect that Express, Inc. will post $0.42 EPS for the current fiscal year.
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EXPR has been the subject of a number of recent analyst reports. BidaskClub cut shares of Express from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Express from a “sell” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets set a $7.00 price target on shares of Express and gave the company a “hold” rating in a research note on Tuesday, August 8th. Morgan Stanley increased their price target on shares of Express from $7.50 to $10.50 and gave the company an “equal weight” rating in a research note on Wednesday, June 14th. Finally, TheStreet cut shares of Express from a “c” rating to a “d+” rating in a research note on Thursday, June 1st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $9.77.
About Express
Express, Inc is a specialty apparel and accessories retailer offering both women’s and men’s merchandise. The Company targets women and men between 20 and 30 years old. It offers an assortment of fashionable apparel and accessories to address fashion needs across multiple aspects of lifestyles, including work, casual, jeanswear and going-out occasions.
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