Children’s Place (NASDAQ:PLCE) Releases Quarterly Earnings Results, Misses Expectations By $0.89 EPS

Children’s Place (NASDAQ:PLCE) issued its quarterly earnings data on Tuesday. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.89), FiscalAI reports. The firm had revenue of $339.47 million during the quarter, compared to analysts’ expectations of $370.29 million.

Children’s Place Stock Performance

Shares of NASDAQ:PLCE traded up $0.11 during midday trading on Tuesday, hitting $7.35. The company had a trading volume of 636,425 shares, compared to its average volume of 598,734. The company has a market cap of $162.93 million, a price-to-earnings ratio of -8.55 and a beta of 1.84. The company has a debt-to-equity ratio of 75.63, a current ratio of 0.93 and a quick ratio of 0.17. The company has a fifty day moving average of $7.81 and a two-hundred day moving average of $6.18. Children’s Place has a 12-month low of $3.66 and a 12-month high of $12.62.

Insider Activity at Children’s Place

In other news, CEO Muhammad Umair acquired 7,143 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The shares were purchased at an average cost of $7.00 per share, for a total transaction of $50,001.00. Following the transaction, the chief executive officer directly owned 277,667 shares of the company’s stock, valued at approximately $1,943,669. This trade represents a 2.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.62% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Prentice Capital Management LP purchased a new stake in shares of Children’s Place in the third quarter valued at $358,000. Prelude Capital Management LLC bought a new position in Children’s Place in the 3rd quarter valued at $99,000. Bank of America Corp DE increased its stake in Children’s Place by 147.8% in the 3rd quarter. Bank of America Corp DE now owns 98,851 shares of the company’s stock worth $614,000 after buying an additional 58,954 shares during the period. Two Sigma Investments LP bought a new stake in shares of Children’s Place during the third quarter valued at approximately $166,000. Finally, Quantbot Technologies LP bought a new stake in Children’s Place during the 3rd quarter valued at $168,000.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. UBS Group increased their target price on Children’s Place from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Children’s Place in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $8.00.

About Children’s Place

The Children’s Place, Inc engages in the provision of apparel, footwear, accessories, and other items for children. The firm also designs contracts to manufacture and sell fashionable and value-priced merchandise under the brand names of The Children’s Place, Baby Place, and Gymboree. It operates through The Children’s Place U.S.