Quarry LP Purchases New Position in The Children’s Place, Inc. (NASDAQ:PLCE)

Quarry LP acquired a new stake in The Children’s Place, Inc. (NASDAQ:PLCE) in the fourth quarter, Holdings Channel.com reports. The firm acquired 149,290 shares of the company’s stock, valued at approximately $1,562,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quinn Opportunity Partners LLC grew its position in shares of Children’s Place by 76.8% in the fourth quarter. Quinn Opportunity Partners LLC now owns 638,018 shares of the company’s stock valued at $6,674,000 after purchasing an additional 277,185 shares in the last quarter. Alpine Global Management LLC bought a new position in Children’s Place in the 4th quarter worth about $1,789,000. ARS Investment Partners LLC purchased a new position in Children’s Place during the 4th quarter valued at about $105,000. Covestor Ltd increased its position in shares of Children’s Place by 156.3% during the fourth quarter. Covestor Ltd now owns 4,408 shares of the company’s stock valued at $46,000 after buying an additional 2,688 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Children’s Place in the fourth quarter worth about $31,000.

Analysts Set New Price Targets

Separately, UBS Group reduced their price objective on shares of Children’s Place from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th.

Children’s Place Stock Performance

NASDAQ:PLCE opened at $5.37 on Friday. The Children’s Place, Inc. has a 52-week low of $4.77 and a 52-week high of $19.74. The stock has a fifty day moving average of $7.56 and a 200 day moving average of $10.44. The firm has a market capitalization of $68.66 million, a price-to-earnings ratio of -0.38 and a beta of 2.03.

Children’s Place (NASDAQ:PLCE) last issued its quarterly earnings results on Friday, April 11th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.95). Children’s Place had a negative net margin of 12.47% and a negative return on equity of 4,732.98%. The business had revenue of $380.91 million for the quarter, compared to the consensus estimate of $374.32 million. During the same quarter last year, the business posted ($7.38) EPS.

About Children’s Place

The Children’s Place, Inc engages in the provision of apparel, footwear, accessories, and other items for children. The firm also designs contracts to manufacture and sell fashionable and value-priced merchandise under the brand names of The Children’s Place, Baby Place, and Gymboree. It operates through The Children’s Place U.S.