Penn Capital Management Company LLC Acquires 393,334 Shares of Capri Holdings Limited $CPRI

Penn Capital Management Company LLC boosted its holdings in Capri Holdings Limited (NYSE:CPRI) by 3,220.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 405,546 shares of the company’s stock after purchasing an additional 393,334 shares during the period. Penn Capital Management Company LLC’s holdings in Capri were worth $9,919,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Royce & Associates LP lifted its stake in Capri by 10.9% in the fourth quarter. Royce & Associates LP now owns 273,960 shares of the company’s stock worth $6,685,000 after purchasing an additional 27,000 shares during the last quarter. Legal & General Group Plc lifted its stake in Capri by 1.5% in the fourth quarter. Legal & General Group Plc now owns 190,695 shares of the company’s stock worth $4,653,000 after purchasing an additional 2,887 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in Capri by 57.9% in the fourth quarter. Hantz Financial Services Inc. now owns 4,266 shares of the company’s stock worth $104,000 after purchasing an additional 1,565 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in Capri in the fourth quarter worth $493,000. Finally, Leonteq Securities AG bought a new stake in Capri in the fourth quarter worth $212,000. 84.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CPRI. Wells Fargo & Company lowered their price target on shares of Capri from $27.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 4th. JPMorgan Chase & Co. boosted their price target on shares of Capri from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, April 13th. BTIG Research reissued a “buy” rating and issued a $30.00 price target on shares of Capri in a research note on Friday, January 30th. TD Cowen reissued a “buy” rating on shares of Capri in a research note on Wednesday, February 4th. Finally, The Goldman Sachs Group lowered their price target on shares of Capri from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $25.92.

Capri Stock Performance

Shares of NYSE:CPRI opened at $18.63 on Wednesday. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -4.37, a price-to-earnings-growth ratio of 0.29 and a beta of 1.43. The company has a 50-day moving average price of $18.77 and a 200-day moving average price of $21.56. The company has a current ratio of 1.14, a quick ratio of 0.52 and a debt-to-equity ratio of 2.07. Capri Holdings Limited has a 12 month low of $16.22 and a 12 month high of $28.26.

Insider Activity at Capri

In other news, CEO John D. Idol acquired 55,000 shares of the stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average cost of $17.98 per share, with a total value of $988,900.00. Following the completion of the purchase, the chief executive officer owned 2,257,645 shares in the company, valued at approximately $40,592,457.10. The trade was a 2.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.30% of the company’s stock.

Capri Company Profile

Capri Holdings Limited (NYSE: CPRI) is a global luxury fashion company that designs, markets and distributes a range of premium lifestyle products. The company’s principal brands—Michael Kors, Versace and Jimmy Choo—offer handbags, ready-to-wear apparel, footwear, watches, jewelry, fragrance and other accessories. Capri Holdings combines in-house design talent with international sourcing, manufacturing and retail operations to deliver collections that reflect each brand’s distinct heritage and aesthetic vision.

Formed in 2018 through the rebranding of Michael Kors Holdings following the acquisition of Versace, Capri has since integrated Jimmy Choo into its portfolio.