Abercrombie & Fitch Co. (NYSE:ANF) Sees Significant Drop in Short Interest

Abercrombie & Fitch Co. (NYSE:ANF) saw a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 3,700,000 shares, a decline of 5.4% from the July 31st total of 3,910,000 shares. Currently, 7.4% of the shares of the company are sold short. Based on an average daily trading volume, of 1,830,000 shares, the days-to-cover ratio is currently 2.0 days.

Insider Buying and Selling

In other Abercrombie & Fitch news, Director Nigel Travis sold 7,700 shares of Abercrombie & Fitch stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $173.66, for a total value of $1,337,182.00. Following the sale, the director now owns 19,855 shares of the company’s stock, valued at $3,448,019.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Kenneth B. Robinson sold 1,300 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $171.61, for a total transaction of $223,093.00. Following the sale, the director now directly owns 5,880 shares in the company, valued at $1,009,066.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Nigel Travis sold 7,700 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $173.66, for a total transaction of $1,337,182.00. Following the completion of the sale, the director now owns 19,855 shares in the company, valued at $3,448,019.30. The disclosure for this sale can be found here. 3.77% of the stock is owned by insiders.

Institutional Trading of Abercrombie & Fitch

Institutional investors and hedge funds have recently modified their holdings of the business. Matrix Trust Co purchased a new position in shares of Abercrombie & Fitch during the second quarter valued at approximately $35,000. Quarry LP lifted its holdings in shares of Abercrombie & Fitch by 156.0% during the 2nd quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock valued at $50,000 after buying an additional 170 shares during the period. Spire Wealth Management boosted its stake in shares of Abercrombie & Fitch by 51.4% in the 1st quarter. Spire Wealth Management now owns 315 shares of the apparel retailer’s stock worth $39,000 after buying an additional 107 shares during the last quarter. CWM LLC grew its holdings in shares of Abercrombie & Fitch by 242.6% in the second quarter. CWM LLC now owns 531 shares of the apparel retailer’s stock worth $94,000 after acquiring an additional 376 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Abercrombie & Fitch by 8,914.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 631 shares of the apparel retailer’s stock worth $112,000 after acquiring an additional 624 shares during the period.

Abercrombie & Fitch Stock Up 3.8 %

NYSE:ANF opened at $147.57 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.15 and a current ratio of 1.44. The firm has a market cap of $7.54 billion, a P/E ratio of 18.35 and a beta of 1.54. Abercrombie & Fitch has a fifty-two week low of $49.24 and a fifty-two week high of $196.99. The firm has a 50-day simple moving average of $160.60 and a two-hundred day simple moving average of $145.54.

Analyst Ratings Changes

Several brokerages have recently commented on ANF. Argus lowered Abercrombie & Fitch from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Citigroup raised shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price target for the company in a research note on Friday. Morgan Stanley dropped their price target on shares of Abercrombie & Fitch from $155.00 to $147.00 and set an “equal weight” rating for the company in a research report on Thursday. Telsey Advisory Group reissued an “outperform” rating and issued a $208.00 target price on shares of Abercrombie & Fitch in a research note on Wednesday, August 28th. Finally, Jefferies Financial Group upped their target price on Abercrombie & Fitch from $155.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $178.43.

About Abercrombie & Fitch

Abercrombie & Fitch Co, through its subsidiaries, operates as an omnichannel retailer in the United States, Europe, the Middle East, Asia, the Asia-Pacific, Canada, and internationally. The company offers an assortment of apparel, personal care products, and accessories for men, women, and kids under the Abercrombie & Fitch, abercrombie kids, Hollister, and Gilly Hicks brands.