Paloma Partners Management Co Invests $791,000 in Abercrombie & Fitch Co. (NYSE:ANF)

Paloma Partners Management Co bought a new stake in shares of Abercrombie & Fitch Co. (NYSE:ANF) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,655 shares of the apparel retailer’s stock, valued at approximately $791,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ANF. Westfield Capital Management Co. LP bought a new stake in shares of Abercrombie & Fitch during the 3rd quarter worth $73,048,000. Renaissance Technologies LLC lifted its stake in Abercrombie & Fitch by 146.3% during the second quarter. Renaissance Technologies LLC now owns 863,100 shares of the apparel retailer’s stock worth $153,494,000 after purchasing an additional 512,700 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Abercrombie & Fitch by 2,036.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 419,560 shares of the apparel retailer’s stock worth $74,615,000 after purchasing an additional 399,922 shares in the last quarter. Driehaus Capital Management LLC increased its position in shares of Abercrombie & Fitch by 283.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 303,896 shares of the apparel retailer’s stock valued at $54,045,000 after purchasing an additional 224,555 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Abercrombie & Fitch by 293.7% in the 2nd quarter. Bank of Montreal Can now owns 286,434 shares of the apparel retailer’s stock worth $51,043,000 after buying an additional 213,684 shares during the last quarter.

Insider Buying and Selling

In other Abercrombie & Fitch news, EVP Samir Desai sold 19,041 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $131.36, for a total value of $2,501,225.76. Following the completion of the transaction, the executive vice president now owns 27,985 shares in the company, valued at approximately $3,676,109.60. This represents a 40.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Helen Mccluskey sold 3,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $139.38, for a total value of $487,830.00. Following the transaction, the director now directly owns 37,470 shares of the company’s stock, valued at $5,222,568.60. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. 2.58% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. UBS Group lifted their price target on shares of Abercrombie & Fitch from $170.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Telsey Advisory Group reiterated an “outperform” rating and issued a $190.00 price objective on shares of Abercrombie & Fitch in a report on Tuesday, November 26th. Citigroup upgraded Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 target price for the company in a report on Friday, August 30th. Jefferies Financial Group boosted their price objective on Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. increased their price objective on Abercrombie & Fitch from $194.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Abercrombie & Fitch has an average rating of “Moderate Buy” and an average price target of $178.14.

Abercrombie & Fitch Stock Performance

Shares of ANF stock opened at $157.31 on Tuesday. The firm has a market cap of $8.04 billion, a P/E ratio of 15.56 and a beta of 1.50. The business’s 50 day moving average price is $143.98 and its 200-day moving average price is $153.87. Abercrombie & Fitch Co. has a fifty-two week low of $75.69 and a fifty-two week high of $196.99.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.19. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm earned $1.83 EPS. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, equities analysts predict that Abercrombie & Fitch Co. will post 10.52 EPS for the current year.

Abercrombie & Fitch Profile

Abercrombie & Fitch Co, through its subsidiaries, operates as an omnichannel retailer in the United States, Europe, the Middle East, Asia, the Asia-Pacific, Canada, and internationally. The company offers an assortment of apparel, personal care products, and accessories for men, women, and kids under the Abercrombie & Fitch, abercrombie kids, Hollister, and Gilly Hicks brands.