Short Interest in The Cato Co. (NYSE:CATO) Rises By 33.0%

by · The Cerbat Gem

The Cato Co. (NYSE:CATO – Get Free Report) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 529,000 shares, a growth of 33.0% from the March 15th total of 397,600 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average daily volume of 74,000 shares, the short-interest ratio is currently 7.1 days.

Cato Stock Performance

Shares of CATO stock traded up $0.12 on Friday, reaching $2.43. 22,202 shares of the company’s stock traded hands, compared to its average volume of 118,138. The company has a market capitalization of $48.79 million, a P/E ratio of -1.76 and a beta of 0.65. Cato has a 12-month low of $2.19 and a 12-month high of $6.70. The business’s 50 day moving average price is $3.02 and its two-hundred day moving average price is $3.95.

Cato (NYSE:CATO – Get Free Report) last released its earnings results on Thursday, March 20th. The specialty retailer reported ($0.74) earnings per share for the quarter. The business had revenue of $155.29 million for the quarter. Cato had a negative net margin of 4.11% and a negative return on equity of 14.41%.

Institutional Investors Weigh In On Cato

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CATO. Bridgeway Capital Management LLC raised its holdings in shares of Cato by 17.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 142,930 shares of the specialty retailer’s stock worth $557,000 after acquiring an additional 20,926 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Cato during the 4th quarter valued at about $75,000. XTX Topco Ltd bought a new stake in shares of Cato in the 4th quarter valued at approximately $87,000. Barclays PLC increased its holdings in Cato by 110.1% in the fourth quarter. Barclays PLC now owns 10,832 shares of the specialty retailer’s stock worth $42,000 after buying an additional 5,677 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Cato by 8.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 294,905 shares of the specialty retailer’s stock valued at $1,150,000 after acquiring an additional 22,333 shares in the last quarter. Hedge funds and other institutional investors own 61.10% of the company’s stock.

Cato Company Profile

(Get Free Report)

The Cato Corporation, together with its subsidiaries, operates as a specialty retailer of fashion apparel and accessories primarily in the southeastern United States. It operates through two segments, Retail and Credit. The company's stores and e-commerce websites offer a range of apparel and accessories, including dressy, career, and casual sportswear; and dresses, coats, shoes, lingerie, costume jewelry, and handbags, as well as men's wear, and lines for kids and infants.

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