Municipal Employees Retirement System of Michigan Has $163,000 Position in Express, Inc. (NYSE:EXPR)
Municipal Employees Retirement System of Michigan cut its position in shares of Express, Inc. (NYSE:EXPR) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,870 shares of the company’s stock after selling 170 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Express were worth $163,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Karp Capital Management Corp acquired a new position in shares of Express during the first quarter valued at about $132,000. Mason Street Advisors LLC boosted its stake in Express by 7.0% in the first quarter. Mason Street Advisors LLC now owns 18,335 shares of the company’s stock valued at $167,000 after buying an additional 1,202 shares during the period. Highbridge Capital Management LLC bought a new stake in shares of Express during the fourth quarter worth approximately $178,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Express during the first quarter worth approximately $192,000. Finally, Princeton Alpha Management LP bought a new stake in shares of Express during the first quarter worth approximately $231,000. Institutional investors own 96.46% of the company’s stock.
Shares of Express, Inc. (EXPR) traded up 3.13% during mid-day trading on Tuesday, reaching $6.58. The company’s stock had a trading volume of 2,549,069 shares. The company’s 50-day moving average is $6.41 and its 200 day moving average is $8.51. The firm has a market cap of $516.17 million, a price-to-earnings ratio of 12.90 and a beta of 1.44. Express, Inc. has a 12 month low of $5.84 and a 12 month high of $16.38.
Express (NYSE:EXPR) last issued its quarterly earnings data on Thursday, June 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.05. Express had a return on equity of 5.83% and a net margin of 1.85%. The firm had revenue of $467.03 million during the quarter, compared to analysts’ expectations of $468 million. During the same period in the previous year, the firm earned $0.25 EPS. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. On average, equities analysts anticipate that Express, Inc. will post $0.42 EPS for the current year.
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EXPR has been the topic of several recent analyst reports. TheStreet lowered Express from a “c” rating to a “d+” rating in a report on Thursday, June 1st. Morgan Stanley boosted their price target on Express from $7.50 to $10.50 and gave the company an “equal weight” rating in a report on Wednesday, June 14th. BMO Capital Markets set a $7.00 price target on Express and gave the company a “hold” rating in a report on Thursday, July 6th. Deutsche Bank AG upped their target price on Express from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Wednesday, May 31st. Finally, MKM Partners reissued a “neutral” rating on shares of Express in a research report on Tuesday, April 18th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $10.63.
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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