Renaissance Technologies LLC Makes New $16.86 Million Investment in American Eagle Outfitters, Inc. (NYSE:AEO)

Renaissance Technologies LLC purchased a new stake in American Eagle Outfitters, Inc. (NYSE:AEO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 844,737 shares of the apparel retailer’s stock, valued at approximately $16,861,000. Renaissance Technologies LLC owned about 0.43% of American Eagle Outfitters as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. UMB Bank n.a. bought a new position in American Eagle Outfitters in the first quarter valued at about $27,000. Parallel Advisors LLC raised its holdings in American Eagle Outfitters by 299.7% in the 4th quarter. Parallel Advisors LLC now owns 1,207 shares of the apparel retailer’s stock valued at $26,000 after buying an additional 905 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in American Eagle Outfitters by 40.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,080 shares of the apparel retailer’s stock worth $44,000 after buying an additional 600 shares during the period. NBC Securities Inc. acquired a new stake in American Eagle Outfitters during the 1st quarter worth approximately $59,000. Finally, CWM LLC grew its holdings in American Eagle Outfitters by 72.3% during the 1st quarter. CWM LLC now owns 2,431 shares of the apparel retailer’s stock worth $63,000 after acquiring an additional 1,020 shares during the last quarter. Institutional investors and hedge funds own 97.33% of the company’s stock.

American Eagle Outfitters Stock Performance

American Eagle Outfitters stock opened at $20.36 on Friday. The stock’s 50 day moving average price is $20.68 and its two-hundred day moving average price is $22.02. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 0.95 and a beta of 1.50. American Eagle Outfitters, Inc. has a 52-week low of $14.40 and a 52-week high of $26.44.

American Eagle Outfitters (NYSE:AEO) last posted its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. American Eagle Outfitters had a net margin of 4.58% and a return on equity of 20.98%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the company posted $0.25 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. On average, equities research analysts forecast that American Eagle Outfitters, Inc. will post 1.78 EPS for the current year.

Insider Activity

In related news, Director Cary D. Mcmillan sold 2,577 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $20.93, for a total transaction of $53,936.61. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 7.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AEO has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of American Eagle Outfitters from $19.00 to $18.00 and set an “underweight” rating on the stock in a report on Thursday, May 30th. StockNews.com cut American Eagle Outfitters from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. TD Cowen lowered their price objective on American Eagle Outfitters from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Barclays reduced their target price on American Eagle Outfitters from $32.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Finally, UBS Group dropped their price target on shares of American Eagle Outfitters from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.00.

American Eagle Outfitters Company Profile

American Eagle Outfitters, Inc operates as a multi-brand specialty retailer in the United States and internationally. The company provides jeans, apparel and accessories, and personal care products for women and men under the American Eagle brand; and intimates, apparel, activewear, and swim collections under the Aerie and OFFLINE by Aerie brands.