Connor Clark & Lunn Investment Management Ltd. Sells 46,971 Shares of The Cato Co. (NYSE:CATO)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of The Cato Co. (NYSE:CATO) by 30.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,058 shares of the specialty retailer’s stock after selling 46,971 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.52% of Cato worth $418,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Prescott Group Capital Management L.L.C. acquired a new position in Cato in the 4th quarter worth approximately $570,000. Peapod Lane Capital LLC purchased a new position in shares of Cato during the 4th quarter valued at approximately $2,257,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Cato during the 4th quarter valued at approximately $26,000. Marquette Asset Management LLC raised its stake in Cato by 9.2% in the 4th quarter. Marquette Asset Management LLC now owns 83,795 shares of the specialty retailer’s stock valued at $327,000 after purchasing an additional 7,053 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Cato by 40.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 85,621 shares of the specialty retailer’s stock valued at $427,000 after purchasing an additional 24,522 shares during the last quarter. Institutional investors and hedge funds own 61.10% of the company’s stock.

Cato Stock Performance

NYSE CATO opened at $3.50 on Friday. The business has a fifty day moving average price of $3.31 and a 200 day moving average price of $4.22. The Cato Co. has a one year low of $2.64 and a one year high of $6.70. The company has a market cap of $71.88 million, a P/E ratio of -2.54 and a beta of 0.91.

Cato (NYSE:CATO) last issued its earnings results on Thursday, March 20th. The specialty retailer reported ($0.74) earnings per share (EPS) for the quarter. The company had revenue of $155.29 million during the quarter. Cato had a negative return on equity of 14.41% and a negative net margin of 4.11%.

Cato 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.