Verition Fund Management LLC Makes New Investment in Childrens Place Inc (NASDAQ:PLCE)
Verition Fund Management LLC purchased a new position in shares of Childrens Place Inc (NASDAQ:PLCE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,412 shares of the company’s stock, valued at approximately $240,000.
Other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in shares of Childrens Place by 263.5% in the second quarter. PNC Financial Services Group Inc. now owns 1,185 shares of the company’s stock worth $45,000 after buying an additional 859 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of Childrens Place in the first quarter worth about $41,000. Strs Ohio purchased a new position in shares of Childrens Place in the second quarter worth about $116,000. Virtu Financial LLC bought a new stake in shares of Childrens Place in the 2nd quarter worth approximately $216,000. Finally, Royal Bank of Canada boosted its position in shares of Childrens Place by 39.7% in the 1st quarter. Royal Bank of Canada now owns 5,945 shares of the company’s stock worth $116,000 after purchasing an additional 1,690 shares in the last quarter.
In related news, Director Elizabeth J. Boland acquired 2,000 shares of Childrens Place stock in a transaction dated Monday, June 22nd. The stock was purchased at an average cost of $39.19 per share, for a total transaction of $78,380.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.69% of the company’s stock.
Childrens Place (NASDAQ:PLCE) last posted its quarterly earnings data on Tuesday, August 25th. The company reported ($1.48) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.29). The company had revenue of $368.92 million during the quarter, compared to analysts’ expectations of $363.50 million. Childrens Place had a positive return on equity of 15.09% and a negative net margin of 5.67%. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share. Research analysts expect that Childrens Place Inc will post -2.31 earnings per share for the current fiscal year.
PLCE has been the topic of a number of analyst reports. Deutsche Bank boosted their price target on Childrens Place from $44.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, June 12th. Wedbush reissued a “hold” rating and issued a $45.00 price target on shares of Childrens Place in a research report on Friday, June 12th. Monness Crespi & Hardt dropped their price target on Childrens Place from $55.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, August 26th. ValuEngine raised Childrens Place from a “hold” rating to a “buy” rating in a research report on Tuesday, September 1st. Finally, Citigroup lowered their price objective on Childrens Place from $46.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Childrens Place has an average rating of “Hold” and an average target price of $41.31.
Childrens Place Company Profile
The Children's Place, Inc operates as a children's specialty apparel retailer. The company operates through two segments, The Children's Place U.S. and The Children's Place International. It sells apparel, footwear, accessories, and other items for children; and designs, contracts to manufacture, and sells merchandise under the proprietary The Children's Place, Place, and Baby Place brand names.
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