Westport Asset Management Inc. Takes $608,000 Position in Express, Inc. (EXPR)
Westport Asset Management Inc. acquired a new stake in Express, Inc. (NYSE:EXPR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 90,000 shares of the company’s stock, valued at approximately $608,000. Westport Asset Management Inc. owned approximately 0.11% of Express as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in EXPR. Piedmont Investment Advisors LLC bought a new stake in Express during the 2nd quarter valued at $114,000. Municipal Employees Retirement System of Michigan increased its stake in Express by 3.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 18,490 shares of the company’s stock valued at $125,000 after purchasing an additional 620 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Express by 29.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 20,739 shares of the company’s stock valued at $140,000 after purchasing an additional 4,722 shares in the last quarter. Gotham Asset Management LLC bought a new stake in Express during the 2nd quarter valued at $148,000. Finally, Virtu KCG Holdings LLC bought a new stake in Express during the 2nd quarter valued at $177,000. Institutional investors own 99.82% of the company’s stock.
Express, Inc. (NYSE EXPR) traded down $0.05 during midday trading on Tuesday, hitting $11.17. 2,703,900 shares of the stock traded hands, compared to its average volume of 2,375,856. Express, Inc. has a 12-month low of $5.28 and a 12-month high of $12.31. The company has a market cap of $884.23, a price-to-earnings ratio of 36.19 and a beta of 1.55.
Express (NYSE:EXPR) last posted its earnings results on Thursday, November 30th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. Express had a net margin of 0.60% and a return on equity of 3.85%. The firm had revenue of $498.70 million during the quarter, compared to analyst estimates of $487.38 million. During the same quarter in the prior year, the business posted $0.15 EPS. The business’s revenue was down 1.5% compared to the same quarter last year. analysts forecast that Express, Inc. will post 0.47 earnings per share for the current fiscal year.
Express announced that its board has initiated a stock buyback program on Thursday, November 30th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of brokerages have commented on EXPR. B. Riley boosted their price target on shares of Express from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, November 30th. Zacks Investment Research upgraded shares of Express from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research note on Tuesday, October 24th. BMO Capital Markets restated a “hold” rating and set a $7.00 price target on shares of Express in a research note on Thursday, November 2nd. BidaskClub upgraded shares of Express from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Finally, FBR & Co restated a “hold” rating and set a $7.00 price target on shares of Express in a research note on Friday, September 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $9.13.
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Express Company Profile
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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