Ascena Retail Group (NASDAQ:ASNA) Shares Gap Up to $0.45

Ascena Retail Group Inc (NASDAQ:ASNA) gapped up prior to trading on Wednesday . The stock had previously closed at $0.35, but opened at $0.45. Ascena Retail Group shares last traded at $0.42, with a volume of 115,835 shares changing hands.

Separately, ValuEngine raised shares of Ascena Retail Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $1.64.

The company has a quick ratio of 0.76, a current ratio of 1.45 and a debt-to-equity ratio of 8.86. The company’s 50 day simple moving average is $0.41 and its 200 day simple moving average is $0.47.

Ascena Retail Group (NASDAQ:ASNA) last issued its earnings results on Thursday, October 3rd. The specialty retailer reported ($0.13) EPS for the quarter. Ascena Retail Group had a negative net margin of 11.13% and a negative return on equity of 19.85%. The firm had revenue of $1.45 billion during the quarter.

Large investors have recently modified their holdings of the business. Paloma Partners Management Co bought a new stake in Ascena Retail Group in the second quarter valued at approximately $65,000. Tower Research Capital LLC TRC bought a new stake in Ascena Retail Group in the third quarter valued at approximately $29,000. Public Employees Retirement System of Ohio increased its stake in Ascena Retail Group by 127.3% in the third quarter. Public Employees Retirement System of Ohio now owns 183,281 shares of the specialty retailer’s stock valued at $48,000 after purchasing an additional 102,631 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in Ascena Retail Group by 27.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 205,427 shares of the specialty retailer’s stock valued at $125,000 after purchasing an additional 43,705 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Ascena Retail Group by 391.9% during the second quarter. JPMorgan Chase & Co. now owns 210,186 shares of the specialty retailer’s stock worth $118,000 after acquiring an additional 167,458 shares in the last quarter. 74.26% of the stock is owned by hedge funds and other institutional investors.

About Ascena Retail Group (NASDAQ:ASNA)

Ascena Retail Group, Inc, through its subsidiaries, operates as a specialty retailer of apparel, shoes, and accessories for women and tween girls in the United States, Canada, and Puerto Rico. The company operates through four segments: Premium Fashion, Value Fashion, Plus Fashion, and Kids Fashion. It offers a range of merchandise, including apparel, accessories, footwear, and intimates; and lifestyle products comprising cosmetics and bedroom accessories.

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