Sycamore Partners Management Lowers stake in Express (EXPR)

Express (EXPR) : Sycamore Partners Management reduced its stake in Express by 56.12% during the most recent quarter end. The investment management company now holds a total of 3,642,000 shares of Express which is valued at $55,831,860 after selling 4,658,000 shares in Express , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Express makes up approximately 100.00% of Sycamore Partners Management’s portfolio.

Other Hedge Funds, Including , Ubs Asset Management Americas Inc boosted its stake in EXPR in the latest quarter, The investment management firm added 18,754 additional shares and now holds a total of 52,547 shares of Express which is valued at $793,460.Royce Associates Lp boosted its stake in EXPR in the latest quarter, The investment management firm added 746,525 additional shares and now holds a total of 2,312,023 shares of Express which is valued at $34,911,547. Express makes up approx 0.22% of Royce Associates Lp’s portfolio.Glenmede Trust Co Na reduced its stake in EXPR by selling 9,381 shares or 6.07% in the most recent quarter. The Hedge Fund company now holds 145,172 shares of EXPR which is valued at $2,167,418. Express makes up approx 0.01% of Glenmede Trust Co Na’s portfolio. Eam Investors sold out all of its stake in EXPR during the most recent quarter. The investment firm sold 130,586 shares of EXPR which is valued $1,949,649.State Board Of Administration Of Florida Retirement System reduced its stake in EXPR by selling 176 shares or 0.2% in the most recent quarter. The Hedge Fund company now holds 87,361 shares of EXPR which is valued at $1,304,300.

Express opened for trading at $15.48 and hit $15.96 on the upside on Wednesday, eventually ending the session at $15.76, with a gain of 2.54% or 0.39 points. The heightened volatility saw the trading volume jump to 32,38,294 shares. Company has a market cap of $1,246 M.

On the company’s financial health, Express reported $0.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on May 25, 2016. Analyst had a consensus of $0.27. The company had revenue of $502.91 million for the quarter, compared to analysts expectations of $521.32 million. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.

Many Wall Street Analysts have commented on Express. Shares were Reiterated by FBR Capital on May 26, 2016 to “Mkt Perform” and Lowered the Price Target to $ 18 from a previous price target of $20 .Shares were Reiterated by Wedbush on May 26, 2016 to “Outperform” and Lowered the Price Target to $ 18 from a previous price target of $27 .Shares were Reiterated by MKM Partners on May 25, 2016 to “Neutral” and Lowered the Price Target to $ 15 from a previous price target of $22 .

Express Inc. is a specialty apparel and accessories retailer offering both women’s and men’s merchandise targeting the 20 to 30 year old customer. The Company offers an assortment of fashionable apparel and accessories to address fashion needs across multiple aspects of lifestyles including work casual jeans wear and going-out occasions. The Company operates one segment which includes the operation of its brick-and-mortar retail and outlet stores e-commerce operations and franchise operations. The Company sells its products through its e-commerce Website www.express.com and has franchise agreements with franchisees that operate Express locations in Latin America the Middle East and South Africa. The Company operates approximately 641 stores across the United States in Canada and in Puerto Rico including 41 factory outlet stores.

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