Squarepoint Ops LLC Acquires 28,973 Shares of Buckle, Inc. (The) $BKE

Key Points

• Squarepoint Ops LLC more than doubled its Buckle stake in the second quarter, acquiring 28,973 additional shares for a total of 53,676 shares valued at approximately $2.27 million.
• Other institutions also increased exposure, including BlackRock and California State Teachers Retirement System; institutional investors collectively own 53.93% of Buckle. The stock opened at $40.37, near its 12-month low of $40.05.
• Buckle beat quarterly earnings expectations with $0.87 EPS versus $0.81 forecast and revenue of $319.82 million, up 4.6% year over year. Analysts maintain a consensus “Hold” rating with a $46 price target.

Squarepoint Ops LLC increased its holdings in Buckle, Inc. (The) (NYSE:BKE - Free Report) by 117.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,676 shares of the company's stock after purchasing an additional 28,973 shares during the period. Squarepoint Ops LLC owned approximately 0.10% of Buckle worth $2,265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Buckle in the 2nd quarter valued at approximately $208,888,000. California State Teachers Retirement System grew its position in Buckle by 3,460.9% in the second quarter. California State Teachers Retirement System now owns 1,456,322 shares of the company's stock valued at $61,457,000 after acquiring an additional 1,415,424 shares during the period. Dimensional Fund Advisors LP grew its position in Buckle by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,342,045 shares of the company's stock valued at $67,582,000 after acquiring an additional 30,128 shares during the period. Renaissance Technologies LLC raised its stake in Buckle by 6.6% during the first quarter. Renaissance Technologies LLC now owns 1,167,752 shares of the company's stock worth $58,808,000 after acquiring an additional 72,550 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Buckle during the second quarter valued at $27,466,000. Institutional investors own 53.93% of the company's stock.

Buckle Stock Down 0.8%

Shares of BKE opened at $40.37 on Tuesday. The stock's fifty day simple moving average is $43.36 and its 200-day simple moving average is $47.27. The firm has a market capitalization of $2.08 billion, a PE ratio of 9.30 and a beta of 1.11. Buckle, Inc. has a 12-month low of $40.05 and a 12-month high of $61.69.

Buckle (NYSE:BKE - Get Free Report) last released its earnings results on Friday, August 21st. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.06. The firm had revenue of $319.82 million during the quarter, compared to analyst estimates of $319.80 million. Buckle had a net margin of 16.62% and a return on equity of 46.91%. The business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BKE. UBS Group restated a "neutral" rating on shares of Buckle in a research note on Monday, August 24th. Weiss Ratings cut shares of Buckle from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, August 14th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $46.00.

Buckle Profile

Buckle, Inc is a specialty retailer of casual apparel, footwear and accessories for young men and women. Its merchandise includes denim, tops, bottoms, dresses, outerwear, shoes, jewelry and other fashion accessories, combining national brands with merchandise sold under the company's private-label brands.

The company sells its products through a network of retail stores across the United States and through its e-commerce platform. Buckle stores typically emphasize personalized customer service and offer services such as complimentary alterations.

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