In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Express Inc. (NYSE:EXPR) reported that Okumus Fund Management has picked up 4,272,371 of common stock as of 2017-06-19.
The acquisition brings the aggregate amount owned by Okumus Fund Management to a total of 4,272,371 representing a 5.4% stake in the company.
For those not familiar with the company, Express, Inc. is a specialty apparel and accessories retailer offering both women’s and men’s merchandise. The Company targets women and men between 20 and 30 years old. It offers an assortment of fashionable apparel and accessories to address fashion needs across multiple aspects of lifestyles, including work, casual, jeanswear and going-out occasions. It is engaged in the operation of its brick-and-mortar retail and outlet stores, e-commerce operations and franchise operations. It sells its products through its e-commerce Website, www.express.com and its mobile application, and has franchise agreements with franchisees that operate Express locations in Latin America. It operated 656 stores across the United States, in Canada and in Puerto Rico, including 104 factory outlet stores, as of January 28, 2017. Its products are created by its in-house design team. Its portfolio of apparel products includes brands, such as Portofino shirt, Editor pant and 1MX shirt.
A glance at Express Inc. (NYSE:EXPR)’s key stats reveals a current market capitalization of $538.54 Million based on $78.80 Million shares outstanding and a price at last close of $6.76 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2010-05-18, Horowitz-Bonadies picked up 2,500 at a purchase price of $17.00. This brings their total holding to 437,429 as of the date of the filing.
On the sell side, the most recent transaction saw Rafferty unload 10,000 shares at a sale price of $20.00. This brings their total holding to 160,857.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an Express Inc. (NYSE:EXPR) as things move forward to see if its progress aligns with these transactions.
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