Ascena Retail Group (NASDAQ:ASNA) Shares Gap Up to $0.40

Ascena Retail Group Inc (NASDAQ:ASNA)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $0.42, but opened at $0.40. Ascena Retail Group shares last traded at $0.45, with a volume of 3,776,242 shares trading hands.

Separately, ValuEngine raised shares of Ascena Retail Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Ascena Retail Group currently has a consensus rating of “Hold” and a consensus price target of $1.64.

The business’s 50 day moving average is $0.31 and its 200-day moving average is $0.69. The stock has a market cap of $97.63 million, a price-to-earnings ratio of -0.49 and a beta of 1.01. The company has a debt-to-equity ratio of 8.86, a quick ratio of 0.76 and a current ratio of 1.45.

A number of institutional investors have recently added to or reduced their stakes in ASNA. CSat Investment Advisory L.P. lifted its stake in Ascena Retail Group by 170.5% in the second quarter. CSat Investment Advisory L.P. now owns 277,062 shares of the specialty retailer’s stock valued at $169,000 after buying an additional 174,646 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Ascena Retail Group by 27.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 205,427 shares of the specialty retailer’s stock valued at $125,000 after buying an additional 43,705 shares during the last quarter. Morgan Stanley lifted its stake in Ascena Retail Group by 157.3% in the second quarter. Morgan Stanley now owns 836,443 shares of the specialty retailer’s stock valued at $510,000 after buying an additional 511,404 shares during the last quarter. Paloma Partners Management Co purchased a new stake in Ascena Retail Group in the second quarter valued at approximately $65,000. Finally, Invesco Ltd. lifted its stake in Ascena Retail Group by 190.1% in the second quarter. Invesco Ltd. now owns 5,661,002 shares of the specialty retailer’s stock valued at $3,453,000 after buying an additional 3,709,522 shares during the last quarter. 97.11% of the stock is currently owned by hedge funds and other institutional investors.

About Ascena Retail Group (NASDAQ:ASNA)

Ascena Retail Group, Inc, through its subsidiaries, operates as a specialty retailer of apparel, shoes, and accessories for women and tween girls in the United States, Canada, and Puerto Rico. The company operates through four segments: Premium Fashion, Value Fashion, Plus Fashion, and Kids Fashion. It offers a range of merchandise, including apparel, accessories, footwear, and intimates; and lifestyle products comprising cosmetics and bedroom accessories.

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