Cato (NYSE:CATO) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Cato (NYSE:CATOGet Rating) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the specialty retailer’s stock.

Separately, TheStreet cut shares of Cato from a “c” rating to a “d+” rating in a research report on Thursday, November 17th.

Cato Stock Performance

NYSE:CATO opened at $8.85 on Thursday. The stock has a market capitalization of $187.44 million, a P/E ratio of -55.31 and a beta of 1.02. The company has a 50 day moving average price of $9.64 and a 200 day moving average price of $9.94. Cato has a fifty-two week low of $8.40 and a fifty-two week high of $16.91.

Hedge Funds Weigh In On Cato

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CATO. Aldebaran Capital LLC purchased a new stake in shares of Cato during the 4th quarter worth $5,277,000. Millennium Management LLC lifted its position in shares of Cato by 1,490.2% during the 4th quarter. Millennium Management LLC now owns 475,771 shares of the specialty retailer’s stock worth $4,439,000 after purchasing an additional 445,852 shares during the last quarter. Susquehanna International Group LLP lifted its position in shares of Cato by 1,639.5% during the 4th quarter. Susquehanna International Group LLP now owns 259,322 shares of the specialty retailer’s stock worth $2,419,000 after purchasing an additional 244,414 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Cato by 582.2% during the 4th quarter. Marshall Wace LLP now owns 246,958 shares of the specialty retailer’s stock worth $2,304,000 after purchasing an additional 210,760 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Cato by 1,456.9% during the 4th quarter. Jane Street Group LLC now owns 181,115 shares of the specialty retailer’s stock worth $1,690,000 after purchasing an additional 169,482 shares during the last quarter. Hedge funds and other institutional investors own 52.06% of the company’s stock.

About Cato

(Get Rating)

The Cato Corp. engages in the operation of apparel and accessories specialty stores. It operates through the following segments: Retail and Credit. The Retail segment includes the retailing of women’s apparel, shoes, and accessories. The Credit segment offers credit card and credit authorization services.

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