J C Penney (NYSE:JCP) Shares Gap Up Following Insider Buying Activity

J C Penney Company Inc (NYSE:JCP) gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $0.99, but opened at $1.02. J C Penney shares last traded at $1.03, with a volume of 17677775 shares.

Specifically, Director Javier G. Teruel bought 223,419 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was acquired at an average price of $0.98 per share, for a total transaction of $218,950.62. Following the purchase, the director now directly owns 1,045,903 shares in the company, valued at $1,024,984.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.41% of the stock is owned by company insiders.

JCP has been the subject of several analyst reports. B. Riley raised their target price on J C Penney from $1.50 to $1.80 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Zacks Investment Research upgraded J C Penney from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. Six research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company has an average rating of “Sell” and a consensus price target of $2.53.

The stock has a market cap of $314.38 million, a PE ratio of -1.13 and a beta of 1.34. The company has a quick ratio of 0.24, a current ratio of 1.51 and a debt-to-equity ratio of 4.75.

J C Penney (NYSE:JCP) last issued its quarterly earnings results on Tuesday, May 21st. The department store operator reported ($0.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.07). The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.49 billion. J C Penney had a negative net margin of 2.78% and a negative return on equity of 33.29%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.22) EPS. As a group, equities analysts expect that J C Penney Company Inc will post -1.04 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Actinver Wealth Management Inc. bought a new stake in shares of J C Penney during the 4th quarter valued at about $48,000. Marshall Wace North America L.P. bought a new stake in shares of J C Penney during the 1st quarter valued at about $41,000. Regentatlantic Capital LLC bought a new stake in shares of J C Penney during the 1st quarter valued at about $41,000. D. E. Shaw & Co. Inc. boosted its position in shares of J C Penney by 245.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 29,187 shares of the department store operator’s stock valued at $30,000 after acquiring an additional 49,187 shares during the last quarter. Finally, Magnus Financial Group LLC bought a new stake in shares of J C Penney during the 1st quarter valued at about $53,000. Hedge funds and other institutional investors own 70.54% of the company’s stock.

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J C Penney Company Profile (NYSE:JCP)

J. C. Penney Company, Inc, through its subsidiary J. C. Penney Corporation, Inc, sells merchandise through department stores. The company primarily sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings; and provides services, including styling salon, optical, portrait photography, and custom decorating services.

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