Childrens Place Inc’s recent filing unveils that its 10% Owner Mithaq Capital SPC acquired Company’s shares for reported $10.78 million on Feb 13 ’24. In the deal valued at $11.15 per share,966,344 shares were bought. As a result of this transaction, Mithaq Capital SPC now holds 6,751,387 shares worth roughly $53.74 million.
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Then, Mithaq Capital SPC bought 1,566,475 shares, generating $24,749,525 in total proceeds. Upon buying the shares at $15.80, the 10% Owner now owns 4,663,743 shares.
Before that, Mithaq Capital SPC bought 1,849,397 shares. Childrens Place Inc shares valued at $20,387,178 were divested by the 10% Owner at a price of $11.02 per share. As a result of the transaction, Mithaq Capital SPC now holds 3,097,268 shares, worth roughly $24.65 million.
Telsey Advisory Group reiterated its Childrens Place Inc [PLCE] rating to a Market perform in a research note published on May 07, 2024; the price target was $9. A number of analysts have revised their coverage, including B. Riley Securities’s analysts, who increased its forecast for the stock in late April from “a Sell” to “a Neutral”. B. Riley Securities also remained covering PLCE and has decreased its forecast on February 13, 2024 with a “Sell” recommendation from previously “Neutral” rating. Monness Crespi & Hardt revised its rating on February 09, 2024. It rated PLCE as “a Neutral” which previously was an “a Buy”.
Price Performance Review of PLCE
On Friday, Childrens Place Inc [NASDAQ:PLCE] saw its stock jump 16.37% to $7.96. Over the last five days, the stock has lost -9.55%. Childrens Place Inc shares have fallen nearly -65.72% since the year began. Nevertheless, the stocks have fallen -62.87% over the past one year. While a 52-week high of $38.03 was reached on 02/15/24, a 52-week low of $6.58 was recorded on 05/01/24. SMA at 50 days reached $9.61, while 200 days put it at $18.49. A total of 2.87 million shares were traded, compared to the trading of 0.93 million shares in the previous session.
Levels Of Support And Resistance For PLCE Stock
The 24-hour chart illustrates a support level at 6.96, which if violated will result in even more drops to 5.96. On the upside, there is a resistance level at 8.83. A further resistance level may holdings at 9.70. The Relative Strength Index (RSI) on the 14-day chart is 38.38, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.19, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.22%. Stochastics %K at 7.09% indicates the stock is a buying.
