Children’s Place (NASDAQ:PLCE) Posts Quarterly Earnings Results, Beats Expectations By $1,001.15 EPS

Children’s Place (NASDAQ:PLCE) issued its quarterly earnings results on Friday. The company reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.15) by $1,001.15, Zacks reports.

Children’s Place Stock Performance

Shares of PLCE stock traded down $0.11 during trading on Friday, hitting $3.48. The company had a trading volume of 664,804 shares, compared to its average volume of 424,296. The stock’s 50-day moving average price is $3.45 and its 200 day moving average price is $4.28. Children’s Place has a one year low of $2.76 and a one year high of $9.56. The firm has a market capitalization of $77.29 million, a P/E ratio of -0.87 and a beta of 1.90.

Institutional Investors Weigh In On Children’s Place

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLCE. Invesco Ltd. increased its holdings in shares of Children’s Place by 8.5% during the fourth quarter. Invesco Ltd. now owns 68,004 shares of the company’s stock worth $271,000 after buying an additional 5,313 shares in the last quarter. Murchinson Ltd. increased its holdings in shares of Children’s Place by 96.9% during the second quarter. Murchinson Ltd. now owns 59,983 shares of the company’s stock worth $266,000 after buying an additional 29,527 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Children’s Place during the fourth quarter worth $208,000. Oxford Asset Management LLP acquired a new position in shares of Children’s Place during the second quarter worth $178,000. Finally, Bank of America Corp DE increased its holdings in shares of Children’s Place by 372.8% during the second quarter. Bank of America Corp DE now owns 39,897 shares of the company’s stock worth $177,000 after buying an additional 31,458 shares in the last quarter.

Analyst Ratings Changes

Separately, UBS Group boosted their price target on Children’s Place from $3.50 to $4.00 and gave the company a “neutral” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Children’s Place has an average rating of “Reduce” and a consensus target price of $4.00.

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.