Simplex Trading buys $574,626 stake in Express (EXPR)

Express (EXPR) : Simplex Trading scooped up 40,744 additional shares in Express during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 44,168 shares of Express which is valued at $574,626.Express makes up approximately 0.07% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , First Mercantile Trust Co reduced its stake in EXPR by selling 570 shares or 7.82% in the most recent quarter. The Hedge Fund company now holds 6,720 shares of EXPR which is valued at $87,427. Express makes up approx 0.01% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in EXPR by selling 14,332 shares or 45.43% in the most recent quarter. The Hedge Fund company now holds 17,215 shares of EXPR which is valued at $211,572. Eqis Capital Management sold out all of its stake in EXPR during the most recent quarter. The investment firm sold 64,199 shares of EXPR which is valued $789,006. West Oak Capital sold out all of its stake in EXPR during the most recent quarter. The investment firm sold 300 shares of EXPR which is valued $3,687. Beacon Financial Group sold out all of its stake in EXPR during the most recent quarter. The investment firm sold 21,538 shares of EXPR which is valued $264,702.

Express opened for trading at $12.68 and hit $13.08 on the upside on Friday, eventually ending the session at $13.01, with a gain of 3.17% or 0.4 points. The heightened volatility saw the trading volume jump to 45,92,221 shares. Company has a market cap of $1,020 M.

On the company’s financial health, Express reported $0.13 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Aug 24, 2016. Analyst had a consensus of $0.17. The company had revenue of $504.80 million for the quarter, compared to analysts expectations of $520.81 million. The company’s revenue was down -5.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.25 EPS.

Many Wall Street Analysts have commented on Express. Shares were Reiterated by FBR Capital on Aug 25, 2016 to “Mkt Perform” and Lowered the Price Target to $ 13 from a previous price target of $18 .Shares were Reiterated by Wolfe Research on Aug 25, 2016 to “Peer Perform” and Lowered the Price Target to $ 13 from a previous price target of $15 .Express was Downgraded by Piper Jaffray to ” Neutral” on Aug 24, 2016.

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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