Neuberger Berman Investment Advis has recently announced that it has increased stake in Childrens Place Inc (NASDAQ:PLCE) by 9.62%. After grabbing 0.68 million shares, the institutional investor is now in possession of 60059.0 shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 5.48% having worth around $18.5 million. Moreover, Pleasant Lake Partners LLC increased its share by 93051.0 to have a control over 0.55 million shares. And Arrowstreet Capital LP raised its holdings to 0.34 million shares by acquiring 0.42 million shares or 3.39% of the stake.
Childrens Place Inc (PLCE) concluded trading on 11/16/23 at a closing price of $21.45, with 3.78 million shares of worth about $81.07 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -12.91% during that period and on Thursday the price saw a loss of about -24.89%. Currently the company’s common shares owned by public are about 12.22M shares, out of which, 11.57M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 4 analysts are covering the PLCE stock and their offered price forecasts bring an average price target of $35.25. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $45.00 and could fall to a lowest price of $29.00. The stock’s current price level is 40.42% above of average price target set by the analysts, while a rise to estimated low would result in gain of 26.03% for the stock. However, touching the estimated high of $45.00 would mean a gain of 52.33% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 30 times over the past 12 months. They bought 476,971 shares in 23 of the transactions. In 7 selling transactions, insiders dumped 180,078 shares.
Franklin Small Cap Value Fund, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Childrens Place Inc Franklin Small Cap Value Fund is currently holding 0.89 million shares of worth totaling $23.93 million. The company recently came buying 0.0 shares which brought its stake up to 7.09% of the company’s outstanding shares. iShares Russell 2000 ETF, after selling 0.27 million shares, have now control over 2.19% of the stake in the company. It holds 4465.0 shares of worth $7.37 million.
Childrens Place Inc (NASDAQ: PLCE) started trading at $23.20, below -$5.36 from concluding price of the previous day. However, the stock later moved at a day high price of 23.45, or with a loss of -24.89%. Stock saw a price change of -11.66% in past 5 days and over the past one month there was a price change of -23.94%. Year-to-date (YTD), PLCE shares are showing a performance of -41.10% which decreased to -45.24% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $14.27 but also hit the highest price of $48.88 during that period. The average intraday trading volume for Childrens Place Inc shares is 498.16K. The stock is currently trading -20.23% below its 20-day simple moving average (SMA20), while that difference is down -17.17% for SMA50 and it goes to -27.37% lower than SMA200.
Neuberger Berman Investment Advis acquired 0.68 million shares of Childrens Place Inc having value of about $18.5 million. Data submitted at the U.S SEC by Neuberger Berman Investment Advis revealed that the firm now holds 60059.0 shares in the company valued at close to $1288265.55, or have control over 9.62% stake in the company. Childrens Place Inc (NASDAQ: PLCE) currently have 12.22M outstanding shares and institutions hold larger chunk of about 92.83% of that. Holding of mutual funds in the company is about 37.72% while other institutional holders and individual stake holders have control over 57.25% and 36.28% of the stake respectively.
The stock has a current market capitalization of $267.70M and its 3Y-monthly beta is at 2.24. It has posted earnings per share of -$6.20 in the same period. It has Quick Ratio of 0.19 while making debt-to-equity ratio of 4.67. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PLCE, volatility over the week remained 8.76% while standing at 6.17% over the month.
Analysts are in expectations that Childrens Place Inc (PLCE) stock would likely to be making an EPS of $3.51 in the current quarter, while forecast for next quarter EPS is $1.3 and it is $3.91 for next year. For the current quarter EPS, analysts have given the company a lowest target $3.3 which is $3.66 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $3.33 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 1090.20% while it is estimated to increase by 394.25% in next year.
Analysts at 4 brokerage firms have issued recommendations for the Childrens Place Inc (PLCE)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 4 Wall Street analysts, 2 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Monness Crespi & Hardt on August 18, 2023 offering a Buy rating for the stock and assigned a target price range of between $30 and $36 to it.
