Accipiter Capital Management Exits Position in Gap Inc (GPS)

Gap Inc (GPS) : Accipiter Capital Management has sold out all of its stake in Gap Inc during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 353,928 shares of Gap Inc which is valued at $8,844,661.

Other Hedge Funds, Including , Samlyn Capital reduced its stake in GPS by selling 176,959 shares or 25.27% in the most recent quarter. The Hedge Fund company now holds 523,336 shares of GPS which is valued at $13,078,167. Gap Inc makes up approx 0.32% of Samlyn Capital’s portfolio.Johnson Financial Group boosted its stake in GPS in the latest quarter, The investment management firm added 1,970 additional shares and now holds a total of 2,620 shares of Gap Inc which is valued at $65,474. Gap Inc makes up approx 0.01% of Johnson Financial Group’s portfolio.

Gap Inc closed down -0.32 points or -1.29% at $24.55 with 70,00,463 shares getting traded on Thursday. Post opening the session at $25, the shares hit an intraday low of $24.345 and an intraday high of $25.02 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Gap Inc reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 18, 2016. Analyst had a consensus of $0.59. The company had revenue of $3851.00 million for the quarter, compared to analysts expectations of $3778.31 million. The company’s revenue was down -1.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.64 EPS.

Investors should note that on Aug 11, 2016, Gap Inc announced a cash dividend of $0.2300. The company’s management has announced Oct 3, 2016 as the ex-dividend date and fixed the record date on Oct 5, 2016. The payable date has been fixed on Oct 26, 2016.

Many Wall Street Analysts have commented on Gap Inc. Company shares were Reiterated by Wedbush on Aug 19, 2016 to “Neutral”, Firm has raised the Price Target to $ 25 from a previous price target of $20 .Company shares were Reiterated by RBC Capital Mkts on Aug 9, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 23 from a previous price target of $20 .Company shares were Upgraded by Mizuho on Aug 9, 2016 to ” Neutral”, Firm has raised the Price Target to $ 24 from a previous price target of $17 .

The Gap Inc. is an apparel retail company. The Company offers apparel accessories and personal care products for men women and children under the Gap Banana Republic Old Navy Piperlime Athleta and Intermix brands. In addition to operating in the specialty outlet online and franchise channels Gap Inc. is an apparel retailer in using omni-channel capabilities for digital world and physical stores. Its omni-channel services include order-in-store reserve-in-store find-in-store and ship-from-store that are tailored across its portfolio of brands. Gap includes GapKids babyGap GapMaternity GapBody and GapFit collections. It also offers handbags shoes jewelry eyewear and personal care products among others. It has Company-operated stores in the United States Canada the United Kingdom France Ireland Japan Italy China and Hong Kong. It operates Gap Banana Republic and Old Navy stores throughout Asia Australia Europe Latin America the Middle East and Africa.

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