Cato (NYSE:CATO) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Cato Corporation's stock price has surpassed its 200-day moving average, trading at $4.19 compared to a moving average of $3.12.
• The company reported a quarterly earnings per share (EPS) of $0.35 with total revenue of $176.51 million but has a negative return on equity of 11.23%.
• Institutional investors have increased their stakes in Cato, with notable increases from Goldman Sachs and Prescott Group Capital Management, indicating confidence in the stock.

Cato Corporation (The) (NYSE:CATO - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.12 and traded as high as $4.25. Cato shares last traded at $4.19, with a volume of 41,560 shares trading hands.

Cato Stock Performance

The stock has a market cap of $82.67 million, a P/E ratio of -4.15 and a beta of 0.85. The business has a 50 day simple moving average of $3.73 and a 200-day simple moving average of $3.12.

Cato (NYSE:CATO - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter. The firm had revenue of $176.51 million during the quarter. Cato had a negative return on equity of 11.23% and a negative net margin of 2.93%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in shares of Cato by 76.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 47,437 shares of the specialty retailer's stock valued at $158,000 after buying an additional 20,521 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Cato during the 1st quarter valued at $174,000. Prescott Group Capital Management L.L.C. lifted its position in shares of Cato by 13.7% during the 1st quarter. Prescott Group Capital Management L.L.C. now owns 166,040 shares of the specialty retailer's stock valued at $553,000 after buying an additional 20,000 shares during the last quarter. Finally, Peapod Lane Capital LLC lifted its position in shares of Cato by 13.5% during the 1st quarter. Peapod Lane Capital LLC now owns 656,690 shares of the specialty retailer's stock valued at $2,187,000 after buying an additional 78,058 shares during the last quarter. Hedge funds and other institutional investors own 61.10% of the company's stock.

Cato Company Profile

The Cato Corporation, together with its subsidiaries, operates as a specialty retailer of fashion apparel and accessories primarily in the southeastern United States. It operates through two segments, Retail and Credit. The company's stores and e-commerce websites offer a range of apparel and accessories, including dressy, career, and casual sportswear; and dresses, coats, shoes, lingerie, costume jewelry, and handbags, as well as men's wear, and lines for kids and infants.

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