Piermont Capital Management Inc. Acquires New Position in Tailored Brands (TLRD)

Piermont Capital Management Inc. purchased a new stake in shares of Tailored Brands (NYSE:TLRD) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 65,140 shares of the company’s stock, valued at approximately $1,632,000. Piermont Capital Management Inc. owned 0.13% of Tailored Brands at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Swiss National Bank increased its position in shares of Tailored Brands by 5.3% during the first quarter. Swiss National Bank now owns 77,000 shares of the company’s stock valued at $1,930,000 after buying an additional 3,900 shares during the period. American Century Companies Inc. increased its position in shares of Tailored Brands by 1.1% during the first quarter. American Century Companies Inc. now owns 352,577 shares of the company’s stock valued at $8,836,000 after buying an additional 3,905 shares during the period. Northern Trust Corp increased its position in shares of Tailored Brands by 0.7% during the first quarter. Northern Trust Corp now owns 595,255 shares of the company’s stock valued at $14,918,000 after buying an additional 4,175 shares during the period. New York State Teachers Retirement System increased its position in shares of Tailored Brands by 5.3% during the first quarter. New York State Teachers Retirement System now owns 113,253 shares of the company’s stock valued at $2,838,000 after buying an additional 5,700 shares during the period. Finally, Ellington Management Group LLC increased its position in shares of Tailored Brands by 4.6% during the fourth quarter. Ellington Management Group LLC now owns 144,700 shares of the company’s stock valued at $3,159,000 after buying an additional 6,300 shares during the period. Institutional investors own 99.48% of the company’s stock.

In other news, Director Rinaldo S. Brutoco sold 6,260 shares of the stock in a transaction that occurred on Friday, April 13th. The shares were sold at an average price of $28.55, for a total transaction of $178,723.00. Following the sale, the director now owns 44,065 shares in the company, valued at $1,258,055.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David H. Edwab sold 16,000 shares of the stock in a transaction that occurred on Wednesday, April 11th. The shares were sold at an average price of $28.07, for a total transaction of $449,120.00. Following the sale, the director now owns 45,769 shares in the company, valued at approximately $1,284,735.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,265 shares of company stock worth $1,929,261. Corporate insiders own 2.40% of the company’s stock.

Shares of TLRD opened at $35.16 on Tuesday. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 0.87 and a beta of 1.72. The company has a debt-to-equity ratio of 634.61, a quick ratio of 0.59 and a current ratio of 2.51. Tailored Brands has a fifty-two week low of $9.40 and a fifty-two week high of $35.94.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Tuesday, June 19th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Monday, June 18th. Tailored Brands’s dividend payout ratio (DPR) is presently 32.73%.

A number of equities research analysts have weighed in on the stock. ValuEngine upgraded shares of Tailored Brands from a “hold” rating to a “buy” rating in a report on Monday, May 14th. Zacks Investment Research upgraded shares of Tailored Brands from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Wednesday, March 14th. Finally, Jefferies Group upgraded shares of Tailored Brands from a “hold” rating to a “buy” rating in a report on Monday, May 14th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $17.80.

Tailored Brands Company Profile

Tailored Brands, Inc operates as a specialty apparel retailer the United States, Puerto Rico, and Canada. It operates through two segments, Retail and Corporate Apparel. The Retail segment offers suits, suit separates, sport coats, slacks, formalwear, business casual, denim, sportswear, outerwear, dress shirts, shoes, and accessories for men.

Institutional Ownership by Quarter for Tailored Brands (NYSE:TLRD)

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