StockNews.com Initiates Coverage on Express (NYSE:EXPR)

StockNews.com started coverage on shares of Express (NYSE:EXPR – Get Rating) in a research note released on Thursday morning. The firm issued a sell rating on the stock.

Separately, TheStreet downgraded shares of Express from a c- rating to a d rating in a research note on Thursday, December 8th.

Express Price Performance

EXPR stock opened at $0.86 on Thursday. The company’s 50 day simple moving average is $1.06 and its 200-day simple moving average is $1.15. The firm has a market capitalization of $58.80 million, a PE ratio of -1.83 and a beta of 1.78. Express has a 12 month low of $0.80 and a 12 month high of $4.02.

Insider Activity at Express

In other news, Director Yehuda Shmidman acquired 5,434,783 shares of Express stock in a transaction that occurred on Wednesday, January 25th. The shares were acquired at an average price of $4.60 per share, with a total value of $25,000,001.80. Following the completion of the purchase, the director now owns 5,434,783 shares of the company’s stock, valued at approximately $25,000,001.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Express

Several institutional investors and hedge funds have recently modified their holdings of EXPR. Millennium Management LLC purchased a new position in Express during the fourth quarter worth approximately $40,000. Morgan Stanley raised its stake in Express by 104.2% during the fourth quarter. Morgan Stanley now owns 1,462,590 shares of the company’s stock worth $1,492,000 after purchasing an additional 746,296 shares during the period. Centiva Capital LP purchased a new position in Express during the fourth quarter worth approximately $51,000. Price T Rowe Associates Inc. MD raised its stake in Express by 24.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 70,652 shares of the company’s stock worth $72,000 after purchasing an additional 13,792 shares during the period. Finally, Alpine Global Management LLC purchased a new position in Express during the fourth quarter worth approximately $123,000. Hedge funds and other institutional investors own 48.19% of the company’s stock.

About Express

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Express, Inc is a dual gender apparel and accessories brand. It operates retail and outlet stores in the United States and Puerto Rico, located primarily in high-traffic shopping malls, lifestyle centers, outlet centers, and street locations. The company reports results as a single segment, which includes the operation of its Express brick-and-mortar retail and outlet stores, eCommerce operations, and franchise operations.