Muhammad Umair Buys 7,143 Shares of Children’s Place (NASDAQ:PLCE) Stock

The Children’s Place, Inc. (NASDAQ:PLCE) CEO Muhammad Umair purchased 7,143 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The shares were bought at an average price of $7.00 per share, with a total value of $50,001.00. Following the purchase, the chief executive officer owned 277,667 shares in the company, valued at $1,943,669. The trade was a 2.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Children’s Place Stock Performance

NASDAQ:PLCE opened at $7.11 on Friday. The company has a debt-to-equity ratio of 75.63, a current ratio of 0.93 and a quick ratio of 0.17. The business has a fifty day simple moving average of $5.79 and a two-hundred day simple moving average of $5.70. The Children’s Place, Inc. has a 1 year low of $3.66 and a 1 year high of $17.19. The company has a market capitalization of $157.63 million, a P/E ratio of -8.27 and a beta of 2.26.

Children’s Place (NASDAQ:PLCE) last released its earnings results on Friday, September 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). Children’s Place had a negative return on equity of 10.32% and a negative net margin of 2.04%.The firm had revenue of $298.01 million during the quarter, compared to analysts’ expectations of $289.41 million. During the same period in the prior year, the business earned $0.30 earnings per share.

Hedge Funds Weigh In On Children’s Place

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLCE. Corton Capital Inc. purchased a new position in Children’s Place during the second quarter worth about $48,000. Headlands Technologies LLC grew its holdings in shares of Children’s Place by 192.0% during the first quarter. Headlands Technologies LLC now owns 6,231 shares of the company’s stock worth $54,000 after purchasing an additional 4,097 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Children’s Place by 372.8% during the second quarter. Bank of America Corp DE now owns 39,897 shares of the company’s stock worth $177,000 after purchasing an additional 31,458 shares in the last quarter. Oxford Asset Management LLP purchased a new position in shares of Children’s Place during the second quarter worth about $178,000. Finally, Murchinson Ltd. grew its stake in Children’s Place by 96.9% in the 2nd quarter. Murchinson Ltd. now owns 59,983 shares of the company’s stock worth $266,000 after buying an additional 29,527 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on PLCE. Wall Street Zen downgraded shares of Children’s Place from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. UBS Group lifted their price objective on shares of Children’s Place from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Children’s Place in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $7.00.

Children’s Place Company Profile

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.