JC Penney Company Inc (NYSE:JCP) Trading Up - Shorts Up 10.30%

Cornelia Mascio
Novembre 17, 2017

As of October 31st, there was short interest totalling 148,286,967 shares, a decline of 2.5% from the October 13th total of 152,105,688 shares. Based on an average daily volume of 19,726,191 shares, the days-to-cover ratio is now 7.5 days. Holding (NYSE JCP) opened at $2.98 on Monday. The company has a debt-to-equity ratio of 3.95, a current ratio of 1.44 and a quick ratio of 0.16. The company's P/E ratio is N/A and the market cap is 930.67M. In the past 52 weeks the company's stock price has moved within the range of $2.35 to $10.74. In the last earnings report the EPS was $-0.61 with 310.74M shares now outstanding. When it comes to net revenue, the average estimate from a total of 18 analysts is 3.97 billion - compared to $3.96 billion posted in the year-ago period. (JCP) has an operating margin of 1.70%. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. equities analysts expect that J.C. Penney Company, Inc. The stock was acquired at an average cost of $3.62 per share, with a total value of $181,000.00. Following the completion of the transaction, the director now directly owns 518,970 shares of the company's stock, valued at approximately $1,889,050.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The firm now has $12.00 price target on the department store operator's stock, up from their prior price target of $9.53. The disclosure for this purchase can be found here. As of quarter end Oppenheimerfunds, Inc. had bought 151,583 shares growing its position 8.4%.

A few notable investment firms have updated their holdings. Holding by 802.7% in the third quarter. The value of the investment in (JCP) decreased from $16,120,000 to $10,958,000 a change of 32.0% for the reporting period. IL grew its position in shares of J.C. Penney Company, Inc. Holding by 502.5% during the 2nd quarter. Buckingham Capital Management Inc owns 1,046,493 shares valued at $3,987,000. Quinn Opportunity Partners LLC grew its position in shares of J.C. Penney Company, Inc. Holding during the 2nd quarter worth $5,140,000. Pinebridge Investments L.P. purchased a new position in shares of J.C. Penney Company, Inc. Holding by 93.9% during the 2nd quarter.

Shares of J.C. Penney Company, Inc. Holding by 29.5% in the third quarter. The company's revenue for the quarter was down 1.4% compared to the same quarter previous year.

A number of large investors have recently added to or reduced their stakes in the stock.

Bank of America Corp. upgraded shares of J.C. Penney Co. Holding from a "hold" rating to a "strong-buy" rating and set a $6.25 price objective on the stock in a report on Thursday, August 10th. Holding from a "hold" rating to a "buy" rating in a research note on Tuesday, August 1st. Northcoast Research restated a "buy" rating and issued a $9.00 price objective on shares of J.C. Penney Company, Inc. Holding in a research note on Thursday, August 3rd.

According to Zacks, "Shares of J. C. Penney, which have underperformed the industry in a year, took a bullish turn after it reported better-than-expected third-quarter results". Holding from a "buy" rating to a "hold" rating in a report on Saturday, August 12th. Two analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Zacks Investment Research cut J.C. Penney from a strong-buy rating to a hold rating in a report on Monday, October 17th.

WARNING: This piece was first published by Week Herald and is the property of of Week Herald. If you are accessing this report on another site, it was illegally stolen and reposted in violation of United States and global copyright and trademark legislation. Quantitative Investment Management LLC bought a new stake in shares of J.C. Penney Company, Inc. Its department stores and Website generally serve the same type of customers, its Website offers virtually the same mix of merchandise as its store assortment and other categories, and its department stores generally accept returns from sales made in stores and through its Website.

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