The Children’s Place, Inc. (NASDAQ:PLCE) Sees Significant Increase in Short Interest

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

Hedge Funds Weigh In On Children’s Place

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in Children’s Place by 145.1% during the first quarter. Goldman Sachs Group Inc. now owns 47,419 shares of the company’s stock worth $414,000 after buying an additional 28,075 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Children’s Place by 3.8% in the second quarter. Geode Capital Management LLC now owns 154,654 shares of the company’s stock valued at $685,000 after acquiring an additional 5,630 shares during the last quarter. Murchinson Ltd. raised its stake in shares of Children’s Place by 96.9% in the second quarter. Murchinson Ltd. now owns 59,983 shares of the company’s stock valued at $266,000 after acquiring an additional 29,527 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Children’s Place by 372.8% in the 2nd quarter. Bank of America Corp DE now owns 39,897 shares of the company’s stock worth $177,000 after acquiring an additional 31,458 shares in the last quarter. Finally, Oxford Asset Management LLP acquired a new position in shares of Children’s Place in the 2nd quarter worth approximately $178,000.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLCE. UBS Group lowered their target price on shares of Children’s Place from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Children’s Place in a research note on Friday, January 9th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $3.50.

Children’s Place Price Performance

Shares of NASDAQ:PLCE opened at $3.51 on Friday. The business’s fifty day moving average price is $3.73 and its two-hundred day moving average price is $5.42. Children’s Place has a fifty-two week low of $2.76 and a fifty-two week high of $9.56. The stock has a market capitalization of $77.96 million, a price-to-earnings ratio of -0.88 and a beta of 2.01.

Children’s Place (NASDAQ:PLCE) last issued its quarterly earnings data 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 the consensus estimate of $366.60 million.

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.