Bullish Hedge Funds Enjoying Express, Inc. (EXPR)’s Continued 2015 Rebound

What does the smart money think about Express, Inc. (NYSE:EXPR)?

The smart money held a positive outlook on the stock of Express, Inc. (NYSE:EXPR) during the second quarter. Scopia Capital, led by Matt Sirovich and Jeremy Mindich, was the largest shareholder of Express, Inc., initiating a new position of 4.22 million shares valued at $76.38 million. Joel Greenblatt of Gotham Asset Management also initiated an equity holding in the company housing 1.06 million shares with a market value of $19.15 million.  Lee Munder Capital Group and Shellback Capital were other major shareholders, having 785,827 shares and 775,000 shares in their portfolio at the end of the second quarter, respectively.

Carlson Capital and Peak6 Capital Management sold off their entire stakes in the company during the second quarter. Some investment managers reduced their stakes in Express, Inc. (NYSE:EXPR) during the same period. Glenn Russell Dubin’s Highbridge Capital Management cut its stake in the company by 93%, holding 48,906 shares worth $886,000 on June 30. Stadium Capital Management trimmed its stake in the apparel company by 87%, reporting ownership of 353,365 shares. D E Shaw and Citadel Investment Group were among the other investment firms trimming their stakes in Express Inc during the second quarter.

Considering the positive hedge fund sentiment and strong second quarter results, we would recommend a small long position in Express, Inc. (NYSE:EXPR).

Disclosure: None