Comerica Bank reduced its position in shares of Childrens Place Inc (NASDAQ:PLCE) by 35.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,909 shares of the company’s stock after selling 8,011 shares during the quarter. Comerica Bank owned 0.10% of Childrens Place worth $1,147,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLCE. Balyasny Asset Management LLC grew its stake in shares of Childrens Place by 293.9% in the second quarter. Balyasny Asset Management LLC now owns 497,064 shares of the company’s stock valued at $47,410,000 after acquiring an additional 370,870 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Childrens Place by 98.1% in the second quarter. Invesco Ltd. now owns 433,207 shares of the company’s stock worth $41,320,000 after acquiring an additional 214,538 shares during the last quarter. Morgan Stanley raised its holdings in Childrens Place by 861.4% in the 2nd quarter. Morgan Stanley now owns 140,011 shares of the company’s stock valued at $13,354,000 after buying an additional 125,448 shares during the last quarter. Maverick Capital Ltd. bought a new position in Childrens Place in the 2nd quarter valued at approximately $9,941,000. Finally, Bank of New York Mellon Corp raised its holdings in Childrens Place by 22.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 563,825 shares of the company’s stock valued at $53,779,000 after buying an additional 103,008 shares during the last quarter.
Shares of Childrens Place stock opened at $69.70 on Monday. Childrens Place Inc has a 52-week low of $68.25 and a 52-week high of $134.52. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.20 and a current ratio of 0.77. The stock has a market capitalization of $1.08 billion, a P/E ratio of 10.33, a P/E/G ratio of 1.46 and a beta of 0.80. The stock’s 50-day simple moving average is $78.41 and its 200 day simple moving average is $88.96.
A number of brokerages recently issued reports on PLCE. DA Davidson set a $135.00 price objective on shares of Childrens Place and gave the company a “buy” rating in a report on Friday, September 13th. BidaskClub lowered shares of Childrens Place from a “hold” rating to a “sell” rating in a report on Thursday. Monness Crespi & Hardt reduced their price objective on shares of Childrens Place from $128.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Deutsche Bank raised shares of Childrens Place from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Thursday, August 15th. Finally, Barclays started coverage on shares of Childrens Place in a research report on Tuesday, November 12th. They issued an “equal weight” rating and a $85.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $112.34.
Childrens Place 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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