Highbridge Capital Management LLC Boosts Stake in Ascena Retail Group Inc (ASNA) – BNB Daily (blog)

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Highbridge Capital Management LLC increased its stake in shares of Ascena Retail Group Inc (NASDAQ:ASNA) by 13,454.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 27,109 shares of the specialty retailer’s stock after buying an additional 26,909 shares during the period. Highbridge Capital Management LLC’s holdings in Ascena Retail Group were worth $167,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Fund Advisors raised its stake in Ascena Retail Group by 4.2% in the third quarter. BlackRock Fund Advisors now owns 8,917,052 shares of the specialty retailer’s stock valued at $49,846,000 after buying an additional 358,512 shares in the last quarter. Wells Fargo & Company MN raised its stake in Ascena Retail Group by 11.4% in the third quarter. Wells Fargo & Company MN now owns 8,165,093 shares of the specialty retailer’s stock valued at $45,643,000 after buying an additional 837,409 shares in the last quarter. Norges Bank bought a new stake in Ascena Retail Group during the fourth quarter valued at about $32,459,000. BlackRock Institutional Trust Company N.A. raised its stake in Ascena Retail Group by 0.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,117,248 shares of the specialty retailer’s stock valued at $28,605,000 after buying an additional 24,633 shares in the last quarter. Finally, Private Capital Management LLC raised its stake in Ascena Retail Group by 6.1% in the third quarter. Private Capital Management LLC now owns 2,579,302 shares of the specialty retailer’s stock valued at $14,418,000 after buying an additional 147,532 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Ascena Retail Group (NASDAQ:ASNA)

Ascena Retail Group Inc (NASDAQ:ASNA) opened at 3.99 on Friday. The company has a market cap of $764.84 million, a price-to-earnings ratio of 110.83 and a beta of 1.93. Ascena Retail Group Inc has a 1-year low of $3.53 and a 1-year high of $9.79. The stock has a 50 day moving average price of $4.04 and a 200-day moving average price of $5.27.

Ascena Retail Group (NASDAQ:ASNA) last issued its earnings results on Monday, March 6th. The specialty retailer reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Ascena Retail Group had a return on equity of 4.50% and a net margin of 0.29%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. On average, equities research analysts forecast that Ascena Retail Group Inc will post $0.38 EPS for the current year.

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Several analysts have issued reports on ASNA shares. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Ascena Retail Group in a report on Monday, March 6th. Royal Bank of Canada dropped their price objective on Ascena Retail Group from $6.00 to $5.00 and set a “sector perform” rating for the company in a research note on Thursday, January 19th. Guggenheim started coverage on Ascena Retail Group in a research note on Thursday, March 9th. They issued a “neutral” rating for the company. Cowen and Company reaffirmed a “market perform” rating and issued a $6.00 price objective (down previously from $7.00) on shares of Ascena Retail Group in a research note on Thursday, January 19th. Finally, Zacks Investment Research raised Ascena Retail Group from a “sell” rating to a “hold” rating in a research note on Tuesday, March 7th. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $5.83.

About Ascena Retail Group

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.

5 Day Chart for NASDAQ:ASNA

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