The Children’s Place Inc. (PLCE) rating reiterates by Monness Crespi & Hardt


The Children’s Place Inc.’s recent filing unveils that its President and CEO ELFERS JANE T acquired Company’s shares for reported $1.02 million on Jul 05. In the deal valued at $23.70 per share,43,000 shares were bought. As a result of this transaction, ELFERS JANE T now holds 370,033 shares worth roughly $ 10.2 million.

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Monness Crespi & Hardt reiterated its The Children’s Place Inc. [PLCE] rating to a Buy in a research note published on Friday, August 18, 2023; the price target was $36. PT values the company’s stock at a premium of 23.44 to its Friday closing price.

Price Performance Review of PLCE

On Friday, The Children’s Place Inc. [NASDAQ:PLCE] saw its stock jump 3.96% to $27.56. On the same session, the stock had its day’s lowest price of $26.54, but rose to a high of $27.62. Over the last five days, the stock has gained 3.84%. The Children’s Place Inc. shares have fallen nearly -24.33% since the year began. Nevertheless, the stocks have fallen -34.66% over the past one year. While a 52-week high of $48.88 was reached on 02/02/23, a 52-week low of $14.27 was recorded on 06/01/23. SMA at 50 days reached $27.15, while 200 days put it at $32.63. A total of 0.41 million shares were traded, compared to the trading of 0.44 million shares in the previous session.

Levels Of Support And Resistance For PLCE Stock

The 24-hour chart illustrates a support level at 26.86, which if violated will result in even more drops to 26.16. On the upside, there is a resistance level at 27.94. A further resistance level may holdings at 28.32. The Relative Strength Index (RSI) on the 14-day chart is 51.80, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 61.06%. Stochastics %K at 25.29% indicates the stock is a holding.

How much short interest is there in The Children’s Place Inc.?

A steep rise in short interest was recorded in The Children’s Place Inc. stocks on Aug 14, 2023, growing by 0.11 million shares to a total of 2.59 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.48 million shares. There was a rise of 4.25%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 30.79% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.51.

The Children’s Place Inc. [PLCE] – Who Are The Largest Shareholders?

In filings from Franklin Mutual Advisers LLC, it is revealed that the company now owns 1,302,280 shares, or roughly 10.44% of the outstanding PLCE shares. In other words, the investor’s shares have fallen by -225 from its previous 13-F filing of 1302505.0. Additionally, BlackRock Fund Advisors decreased -55.55% of its stake after which the total value it holdings stand at $26,212,157, while The Vanguard Group, Inc. reduced -22.51% of its stake to hold $26.19 million in the firm. At present, Pleasant Lake Partners LLC is holding 553,878 shares valued at $17.41 million. Arrowstreet Capital LP owned 423,231 shares of the company at the time of its most recent 13F filing, worth $13.31 million.

According to FactSet, The Children’s Place Inc.’s share price will average $33.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 26.37 percent from its previous closing price of $26.51. Analysts expect The Children’s Place Inc. stock to reach the higher price of $45.00, while the lowest price estimate is $20.00. However, 4 analysts have rated PLCE stock as an Overweight in their predictions for 2023.


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