Connor Clark & Lunn Investment Management Ltd. Reduces Position in The Cato Co. (NYSE:CATO)

Connor Clark & Lunn Investment Management Ltd. cut its position in The Cato Co. (NYSE:CATO) by 30.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,058 shares of the specialty retailer’s stock after selling 46,971 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Cato were worth $418,000 as of its most recent filing with the Securities and Exchange Commission.

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

Cato Stock Up 7.4 %

Shares of NYSE CATO opened at $3.50 on Friday. The Cato Co. has a 52 week low of $2.64 and a 52 week high of $6.70. The firm has a 50-day moving average price of $3.31 and a 200 day moving average price of $4.22. The stock has a market capitalization of $71.88 million, a price-to-earnings ratio of -2.54 and a beta of 0.91.

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

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.