The Cato Co. (NYSE:CATO) Short Interest Down 7.1% in December

The Cato Co. (NYSE:CATO) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 418,300 shares, a drop of 7.1% from the November 30th total of 450,200 shares. Approximately 2.5% of the company’s shares are sold short. Based on an average trading volume of 163,400 shares, the days-to-cover ratio is currently 2.6 days.

Hedge Funds Weigh In On Cato

A number of large investors have recently bought and sold shares of the business. Barclays PLC increased its stake in Cato by 130.9% in the third quarter. Barclays PLC now owns 5,155 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 2,922 shares during the period. Point72 DIFC Ltd bought a new stake in Cato during the 2nd quarter valued at about $36,000. AQR Capital Management LLC bought a new stake in Cato during the 2nd quarter valued at about $102,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cato in the 2nd quarter valued at about $144,000. Finally, Verum Partners LLC grew its stake in Cato by 19.6% in the 3rd quarter. Verum Partners LLC now owns 32,508 shares of the specialty retailer’s stock worth $162,000 after acquiring an additional 5,335 shares in the last quarter. Hedge funds and other institutional investors own 61.10% of the company’s stock.

Cato Price Performance

Shares of NYSE:CATO traded down $0.15 during trading hours on Monday, hitting $3.78. 98,786 shares of the company’s stock traded hands, compared to its average volume of 128,102. The firm has a market capitalization of $77.63 million, a P/E ratio of -2.74 and a beta of 0.91. The business has a fifty day moving average price of $4.73 and a 200-day moving average price of $4.98. Cato has a 1 year low of $3.02 and a 1 year high of $7.37.

Cato Company Profile

The Cato Corporation, together with its subsidiaries, operates as a specialty retailer of fashion apparel and accessories primarily in the southeastern United States. It operates through two segments, Retail and Credit. The company's stores and e-commerce websites offer a range of apparel and accessories, including dressy, career, and casual sportswear; and dresses, coats, shoes, lingerie, costume jewelry, and handbags, as well as men's wear, and lines for kids and infants.