The Children's Place, Inc. (NASDAQ:PLCE) Short Interest Up 21.8% in March

Key Points

• Short interest rose 21.8% in March to 3,074,109 shares (about 14.0% of shares sold short) with a days-to-cover of 12.6, indicating heavy bearish positioning.
• Children’s Place reported a quarterly loss of ($1.86) EPS, missing estimates by $1.00, and revenue of $329.23 million versus expectations of $366.6 million.
• Analyst sentiment is weak: UBS cut its price target to $3.50, MarketBeat shows a consensus rating of "Reduce" with an average target of $3.50, while the stock trades around $3.48 and has a market cap near $77.3 million.

The Children's Place, Inc. (NASDAQ:PLCE - Get Free Report) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 3,074,109 shares, a growth of 21.8% from the March 15th total of 2,524,467 shares. Currently, 14.0% of the shares of the company are sold short. Based on an average trading volume of 244,042 shares, the days-to-cover ratio is currently 12.6 days.

Analysts Set New Price Targets

A number of analysts recently commented on PLCE shares. UBS Group decreased their price target on Children's Place from $4.50 to $3.50 and set a "neutral" rating for the company in a research report on Tuesday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Children's Place in a research report on Friday, January 9th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $3.50.

Children's Place Price Performance

NASDAQ:PLCE opened at $3.48 on Friday. The business has a fifty day simple moving average of $3.74 and a two-hundred day simple moving average of $5.44. Children's Place has a 1 year low of $2.76 and a 1 year high of $9.56. The company has a market capitalization of $77.29 million, a P/E ratio of -0.87 and a beta of 2.01.

Children's Place (NASDAQ:PLCE - Get Free Report) last released its earnings results on Friday, April 10th. The company reported ($1.86) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.86) by ($1.00). The business had revenue of $329.23 million during the quarter, compared to analyst estimates of $366.60 million.

Institutional Trading of Children's Place

A number of large investors have recently bought and sold shares of the company. Immersion Corp bought a new position in shares of Children's Place in the fourth quarter worth $1,886,000. Marshall Wace LLP boosted its holdings in shares of Children's Place by 2,181.2% in the fourth quarter. Marshall Wace LLP now owns 297,921 shares of the company's stock worth $1,186,000 after acquiring an additional 284,861 shares during the period. Shay Capital LLC boosted its holdings in shares of Children's Place by 897.1% in the second quarter. Shay Capital LLC now owns 308,322 shares of the company's stock worth $1,366,000 after acquiring an additional 277,401 shares during the period. 683 Capital Management LLC bought a new position in shares of Children's Place in the fourth quarter worth $315,000. Finally, Bank of America Corp DE boosted its holdings in shares of Children's Place by 147.8% in the third quarter. Bank of America Corp DE now owns 98,851 shares of the company's stock worth $614,000 after acquiring an additional 58,954 shares during the period.

About Children's Place

The Children's Place, Inc NASDAQ: PLCE is a leading specialty retailer of children's apparel, footwear and accessories, operating an omnichannel platform that serves families across North America. Headquartered in Secaucus, New Jersey, the company combines an extensive network of brick-and-mortar stores with a full-service e-commerce site to deliver a wide range of private-label products for newborns, toddlers and kids up to pre-teen. By focusing on value-priced, fashion-forward merchandise, The Children's Place has built a recognizable brand in the youth apparel market.

The company's product portfolio encompasses core categories such as tops, bottoms, sleepwear and outerwear, along with footwear and seasonal accessories.

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