Cato (NYSE:CATO) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Cato Corporation (The) (NYSE:CATO) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.09 and traded as high as $3.62. Cato shares last traded at $3.2930, with a volume of 10,519 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Cato from a “sell (e+)” rating to a “sell (d)” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Cato Stock Performance

The company has a 50 day moving average of $3.11 and a 200 day moving average of $3.09. The stock has a market capitalization of $66.67 million, a price-to-earnings ratio of -333.67 and a beta of 0.58.

Cato (NYSE:CATO) last announced its earnings results on Tuesday, May 26th. The specialty retailer reported $0.47 earnings per share (EPS) for the quarter. Cato had a net margin of 0.01% and a return on equity of 0.05%. The company had revenue of $171.10 million for the quarter.

Hedge Funds Weigh In On Cato

A hedge fund recently raised its position in Cato stock. Goldman Sachs Group Inc. raised its holdings in Cato Corporation (The) (NYSE:CATO) by 76.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,437 shares of the specialty retailer’s stock after acquiring an additional 20,521 shares during the period. Goldman Sachs Group Inc. owned approximately 0.24% of Cato worth $158,000 at the end of the most recent quarter. 61.10% of the stock is owned by hedge funds and other institutional investors.

Cato Company Profile

Cato Corporation is a specialty apparel retailer headquartered in Charlotte, North Carolina. Founded in 1946 by Carl and Bernice Cato, the company operates two banner store concepts—Cato and Versona—and maintains an e-commerce platform to extend its reach beyond brick-and-mortar locations. Cato’s retail mission centers on providing fashionable women’s clothing and accessories at moderate price points.

With over 1,200 stores across more than 30 U.S. states, primarily concentrated in the Southeastern and Mid-Atlantic regions, Cato serves a broad customer base seeking everyday and occasion-driven wardrobe solutions.