Short Interest in The Cato Co. (NYSE:CATO) Decreases By 12.1%

The Cato Co. (NYSE:CATO) saw a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 453,800 shares, a decrease of 12.1% from the October 31st total of 516,100 shares. Approximately 2.7% of the shares of the stock are sold short. Based on an average daily volume of 105,700 shares, the short-interest ratio is presently 4.3 days.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Cato from a “buy” rating to a “hold” rating in a report on Friday, August 23rd.

Hedge Funds Weigh In On Cato

A number of institutional investors have recently made changes to their positions in CATO. Vanguard Group Inc. grew its holdings in shares of Cato by 0.8% during the first quarter. Vanguard Group Inc. now owns 931,094 shares of the specialty retailer’s stock worth $5,372,000 after buying an additional 7,072 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Cato during the second quarter worth approximately $88,000. Acuitas Investments LLC grew its stake in Cato by 18.8% in the 2nd quarter. Acuitas Investments LLC now owns 492,629 shares of the specialty retailer’s stock worth $2,729,000 after acquiring an additional 78,041 shares during the period. Renaissance Technologies LLC raised its holdings in Cato by 1.4% in the 2nd quarter. Renaissance Technologies LLC now owns 580,202 shares of the specialty retailer’s stock valued at $3,214,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of Cato during the 2nd quarter worth $36,000. 61.10% of the stock is owned by institutional investors and hedge funds.

Cato Price Performance

Shares of Cato stock remained flat at $3.19 during trading on Friday. The company had a trading volume of 347,913 shares, compared to its average volume of 172,644. Cato has a 1 year low of $3.02 and a 1 year high of $7.80. The stock has a fifty day moving average of $5.38 and a 200 day moving average of $5.29. The stock has a market cap of $65.62 million, a PE ratio of -2.31 and a beta of 1.08.

About Cato

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.