Ascena Retail Group, Inc. (NASDAQ:ASNA) shares dropped 5.9% during trading on Tuesday . The company traded as low as $2.09 and last traded at $2.09. Approximately 2,662,888 shares changed hands during mid-day trading, an increase of 17% from the average daily volume of 2,272,910 shares. The stock had previously closed at $2.22.

ASNA has been the topic of a number of recent research reports. BidaskClub downgraded Ascena Retail Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Zacks Investment Research upgraded Ascena Retail Group from a “sell” rating to a “hold” rating in a research note on Monday. ValuEngine downgraded Ascena Retail Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Cowen and Company restated a “market perform” rating and issued a $2.00 target price (down previously from $6.00) on shares of Ascena Retail Group in a research note on Sunday, June 11th. Finally, Royal Bank Of Canada set a $5.00 target price on Ascena Retail Group and gave the company a “hold” rating in a research note on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $3.83.

The company’s market capitalization is $397.23 million. The firm has a 50 day moving average price of $2.14 and a 200 day moving average price of $2.77.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its holdings in shares of Ascena Retail Group by 1.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 69,000 shares of the specialty retailer’s stock valued at $294,000 after acquiring an additional 900 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Ascena Retail Group by 1.3% in the 1st quarter. Arizona State Retirement System now owns 88,300 shares of the specialty retailer’s stock valued at $376,000 after acquiring an additional 1,100 shares in the last quarter. Texas Permanent School Fund grew its holdings in shares of Ascena Retail Group by 0.9% in the 2nd quarter. Texas Permanent School Fund now owns 123,823 shares of the specialty retailer’s stock valued at $266,000 after acquiring an additional 1,145 shares in the last quarter. M&T Bank Corp grew its holdings in shares of Ascena Retail Group by 2.3% in the 2nd quarter. M&T Bank Corp now owns 78,184 shares of the specialty retailer’s stock valued at $168,000 after acquiring an additional 1,739 shares in the last quarter. Finally, Mason Street Advisors LLC grew its holdings in shares of Ascena Retail Group by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 39,622 shares of the specialty retailer’s stock valued at $169,000 after acquiring an additional 2,595 shares in the last quarter. Institutional investors own 95.71% of the company’s stock.

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Ascena Retail Group Company Profile

Ascena Retail Group, Inc is a specialty retailer of apparel for women and tween girls. The Company operates through six segments: ANN, Justice, Lane Bryant, maurices, dressbarn and Catherines. The ANN segment offers feminine classics and fashion choices, sold primarily under the Ann Taylor and LOFT brands.

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