Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Ascena Retail Group Inc (ASNA) Is Steven Cohen’s Latest Bet

Page 1 of 2

Steven Cohen has revealed his latest stock market bet – Ascena Retail Group Inc (NASDAQ:ASNA). According to a recent filing with the Securities and Exchange Commission, the billionaire’s fund, Point72 Asset Management, controls approximately 8.52 million shares, which account for 5.2% of the company’s common stock. This is a new position as the fund had not reported holdings in Ascena Retail Group Inc (NASDAQ:ASNA) in its latest 13F filing.

Steve Cohen SAC CAPITAL ADVISORS

At Insider Monkey, we track hedge funds’ moves in order to identify actionable patterns and profit from them. Our research has shown that hedge funds’ large-cap stock picks historically underperformed the S&P 500 Total Return Index by an average of seven basis points per month between 1999 and 2012. On the other hand, the 15 most popular small-cap stocks among hedge funds outperformed the S&P 500 Index by an average of 95 basis points per month (read more details here). Since the official launch of our small-cap strategy in August 2012, it has performed just as predicted, returning over 123% and beating the market by more than 65 percentage points. We believe the data is clear: investors will be better off by focusing on small-cap stocks utilizing hedge fund expertise (while avoiding their high fees at the same time) rather than large-cap stocks.

Steve Cohen
Steve Cohen
Point72 Asset Management

Ascena Retail Group Inc (NASDAQ:ASNA) is a retailer of clothing, shoes and apparel, and operates approximately 3,900 stores in the United States and Canada. The company has a market cap of $2.04 billion and does not pay a dividend. With a current value of $12.08, the stock is trading close to its value at the start of the year, having reached a June high of $17.59. As a result, the stock’s Price to Earnings ratio is roughly 19, which is lower than the industry average of 24.80. Ascena Retail Group Inc (NASDAQ:ASNA) has seen its revenues tumble for the 4th consecutive quarter after reporting $1.15 billion for the thirteen weeks ending April 25, 2015, which is still 0.5% higher than the figure reported for the same period of 2014. Earnings per share stand at $0.17 and are 37% lower year-over-year, signaling an increase in total expenses that have surpassed the increase in revenues. Analysts expect the company to post revenues of $1.16 billion and earnings per share of $0.05 for the current quarter.

Page 1 of 2
Loading...