Short Interest in Abercrombie & Fitch Co. (NYSE:ANF) Increases By 9.6%

Abercrombie & Fitch Co. (NYSE:ANF) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 4,320,000 shares, an increase of 9.6% from the September 15th total of 3,940,000 shares. Approximately 8.6% of the company’s stock are sold short. Based on an average trading volume of 1,930,000 shares, the days-to-cover ratio is presently 2.2 days.

Abercrombie & Fitch Stock Performance

Shares of ANF stock traded up $2.72 during midday trading on Thursday, reaching $166.50. 484,658 shares of the company were exchanged, compared to its average volume of 1,702,586. The company’s 50 day moving average price is $146.41 and its two-hundred day moving average price is $148.80. The company has a market cap of $8.51 billion, a P/E ratio of 20.77 and a beta of 1.49. Abercrombie & Fitch has a 12 month low of $57.78 and a 12 month high of $196.99.

Abercrombie & Fitch (NYSE:ANF) last announced its earnings results on Wednesday, August 28th. The apparel retailer reported $2.50 EPS for the quarter, topping the consensus estimate of $2.14 by $0.36. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Abercrombie & Fitch had a return on equity of 47.35% and a net margin of 10.76%. As a group, sell-side analysts predict that Abercrombie & Fitch will post 10.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Samir Desai sold 19,041 shares of Abercrombie & Fitch stock in a transaction on Friday, September 6th. The shares were sold at an average price of $131.36, for a total transaction of $2,501,225.76. Following the sale, the executive vice president now owns 27,985 shares of the company’s stock, valued at $3,676,109.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Abercrombie & Fitch news, EVP Samir Desai sold 19,041 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $131.36, for a total value of $2,501,225.76. Following the transaction, the executive vice president now directly owns 27,985 shares of the company’s stock, valued at $3,676,109.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Helen Mccluskey sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $139.38, for a total transaction of $487,830.00. Following the sale, the director now directly owns 37,470 shares of the company’s stock, valued at $5,222,568.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,541 shares of company stock worth $4,310,256 in the last 90 days. 3.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ANF. Matrix Trust Co acquired a new position in shares of Abercrombie & Fitch in the 2nd quarter worth approximately $35,000. Quarry LP grew its position in Abercrombie & Fitch by 156.0% in the second quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock worth $50,000 after buying an additional 170 shares during the last quarter. CWM LLC increased 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 valued at $94,000 after buying an additional 376 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased 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 valued at $112,000 after buying an additional 624 shares in the last quarter. Finally, Plato Investment Management Ltd lifted its position in shares of Abercrombie & Fitch by 66.1% during the 2nd quarter. Plato Investment Management Ltd now owns 741 shares of the apparel retailer’s stock valued at $132,000 after acquiring an additional 295 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup upgraded Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 target price for the company in a research report on Friday, August 30th. Morgan Stanley lowered their price objective on Abercrombie & Fitch from $155.00 to $147.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. Telsey Advisory Group reiterated an “outperform” rating and issued a $190.00 target price on shares of Abercrombie & Fitch in a research note on Wednesday, September 11th. Argus lowered shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, Jefferies Financial Group lifted their price objective on shares of Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $176.71.

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.