J C Penney (NYSE:JCP) Trading Up 6.1%

J C Penney Company Inc (NYSE:JCP)’s share price was up 6.1% during trading on Thursday . The stock traded as high as $0.95 and last traded at $0.94, approximately 6,392,904 shares traded hands during mid-day trading. A decline of 35% from the average daily volume of 9,896,464 shares. The stock had previously closed at $0.89.

Separately, B. Riley started coverage on J C Penney in a research report on Friday, August 16th. They issued a “hold” rating and a $1.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. J C Penney presently has an average rating of “Hold” and an average price target of $1.44.

The company has a 50-day moving average price of $0.79 and a 200 day moving average price of $1.05. The firm has a market capitalization of $300.01 million, a PE ratio of -0.98 and a beta of 1.56. The company has a debt-to-equity ratio of 4.86, a current ratio of 1.37 and a quick ratio of 0.21.

J C Penney (NYSE:JCP) last posted its earnings results on Thursday, August 15th. The department store operator reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.14. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.62 billion. J C Penney had a negative return on equity of 29.24% and a negative net margin of 2.38%. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.38) earnings per share. As a group, research analysts anticipate that J C Penney Company Inc will post -1.22 earnings per share for the current year.

In other news, Director Javier G. Teruel bought 500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average cost of $0.59 per share, for a total transaction of $295,000.00. Following the completion of the transaction, the director now owns 9,443,552 shares of the company’s stock, valued at $5,571,695.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lisa A. Payne bought 230,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $0.79 per share, for a total transaction of $181,700.00. Following the completion of the transaction, the director now directly owns 517,890 shares of the company’s stock, valued at approximately $409,133.10. The disclosure for this purchase can be found here. Insiders purchased 1,830,000 shares of company stock worth $1,125,700 over the last quarter. 1.41% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of J C Penney by 2.6% in the second quarter. BlackRock Inc. now owns 43,619,119 shares of the department store operator’s stock worth $49,726,000 after buying an additional 1,085,855 shares in the last quarter. Newport Trust Co lifted its position in shares of J C Penney by 4.0% in the second quarter. Newport Trust Co now owns 14,787,444 shares of the department store operator’s stock worth $16,858,000 after buying an additional 564,140 shares in the last quarter. Harbor Spring Capital LLC purchased a new stake in shares of J C Penney in the second quarter worth about $9,567,000. Invesco Ltd. lifted its position in shares of J C Penney by 144.7% in the second quarter. Invesco Ltd. now owns 7,446,322 shares of the department store operator’s stock worth $8,489,000 after buying an additional 4,403,037 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of J C Penney by 10.7% in the second quarter. SG Americas Securities LLC now owns 4,301,068 shares of the department store operator’s stock worth $4,903,000 after buying an additional 415,640 shares in the last quarter. Institutional investors own 67.15% of the company’s stock.

About J C Penney (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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