Cato (NYSE:CATO) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Cato Corporation's stock price has crossed above its 200-day moving average, reaching a high of $4.41 during trading, with shares last trading at $4.35.
• The company's most recent earnings report indicated an earnings per share (EPS) of $0.35, alongside a negative return on equity of 11.23% and a revenue of $176.51 million.
• Large institutional investors have shown increased interest, with Peapod Lane Capital LLC raising its stake by 13.5%, while Goldman Sachs boosted its position by 76.2% in the first quarter.

Cato Corporation (The) (NYSE:CATO - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.06 and traded as high as $4.41. Cato shares last traded at $4.35, with a volume of 18,155 shares trading hands.

Cato Price Performance

The company has a 50 day moving average of $3.58 and a 200-day moving average of $3.06. The company has a market cap of $85.83 million, a P/E ratio of -4.31 and a beta of 0.84.

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

Institutional Investors Weigh In On Cato

A number of large investors have recently added to or reduced their stakes in CATO. Peapod Lane Capital LLC raised its position in Cato by 13.5% during the first quarter. Peapod Lane Capital LLC now owns 656,690 shares of the specialty retailer's stock valued at $2,187,000 after purchasing an additional 78,058 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Cato during the 1st quarter valued at approximately $174,000. Goldman Sachs Group Inc. boosted its position in 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 acquiring an additional 20,521 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. boosted its position in shares of Cato by 13.7% in the 1st quarter. Prescott Group Capital Management L.L.C. now owns 166,040 shares of the specialty retailer's stock worth $553,000 after purchasing an additional 20,000 shares in 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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