Shares of Ascena Retail Group Inc (NASDAQ:ASNA) are trading up this afternoon as investors anticipate what they hope to be a positive earnings report for the quarter.
Analyst estimates put earnings per share at approximately $0.29 on average and anything north of this amount should add fuel to the current rally we are seeing today within the stock.
Their fiscal first quarter report should be released at around 4:30 p.m ET after the market closes. The company also has a shareholder meeting planned for Dec 11th.
The stock is up 2.21% or $0.25 after the news, hitting $11.58 per share. About 2.65M shares traded hands. ASNA has declined 25.95% since April 28, 2015 and is downtrending. It has underperformed by 24.32% the S&P500.
The institutional sentiment increased to 1.67 in Q2 2015. Its up 0.68, from 0.99 in 2015Q1. The ratio increased, as 28 funds sold all Ascena Retail Group Inc shares owned while 55 reduced positions. 49 funds bought stakes while 90 increased positions. They now own 143.40 million shares or 16.61% more from 122.97 million shares in 2015Q1.
Stadium Capital Management Llc holds 26.27% of its portfolio in Ascena Retail Group Inc for 5.36 million shares. Greenwood Investments Inc. owns 1.31 million shares or 20.89% of their US portfolio. Moreover, Coliseum Capital Management Llc has 13.62% invested in the company for 2.41 million shares. The California-based Pco Investment Management Lp has invested 3.29% in the stock. Private Capital Management Llc, a Florida-based fund reported 1.63 million shares.
Since March 11, 2015, the stock had 0 buys, and 2 sales for $17,938 net activity. Giammatteo Robert sold 405 shares worth $5,295. Pershing John E sold 967 shares worth $12,643.
Ascena Retail Group, Inc. is a national specialty retailer offering clothing, shoes and accessories for missy and plus-size women through its 100% owned subsidiaries, under the Lane Bryant, maurices, dressbarn and Catherines brands; and for tween girls and boys, under the Justice brand. The company has a market cap of $2.37 billion. The Firm operates approximately 3,900 stores throughout the United States and Canada. It currently has negative earnings.