Is Selling Ascena Retail Group, Inc. (ASNA) Here a Winning Strategy? The Stock Formed Ascending Triangle Chart Pattern

January 23, 2018 - By Adrian Mccoy

Investors sentiment increased to 1.16 in Q3 2017. Its up 0.22, from 0.94 in 2017Q2. It improved, as 16 investors sold Ascena Retail Group, Inc. shares while 47 reduced holdings. 28 funds opened positions while 45 raised stakes. 178.41 million shares or 0.67% less from 179.61 million shares in 2017Q2 were reported.
Washington Trust Commercial Bank holds 7,760 shares or 0% of its portfolio. Amalgamated Natl Bank owns 0% invested in Ascena Retail Group, Inc. (NASDAQ:ASNA) for 23,271 shares. Quinn Opportunity Prns Ltd Liability holds 0.01% in Ascena Retail Group, Inc. (NASDAQ:ASNA) or 22,694 shares. State Street reported 4.14 million shares stake. Parametric Assoc Ltd Liability has 897,456 shares for 0% of their portfolio. 569 were reported by Tci Wealth Advsrs Inc. D E Shaw & owns 343,214 shares or 0% of their US portfolio. Golden Gate Private Equity invested 33.29% of its portfolio in Ascena Retail Group, Inc. (NASDAQ:ASNA). California State Teachers Retirement Systems invested in 310,174 shares. Invesco Ltd has invested 0% of its portfolio in Ascena Retail Group, Inc. (NASDAQ:ASNA). Rhumbline Advisers reported 360,564 shares. Massachusetts-based Geode Cap Management Ltd Liability Co has invested 0% in Ascena Retail Group, Inc. (NASDAQ:ASNA). Employees Retirement Association Of Colorado invested in 0% or 31,115 shares. Suntrust Banks stated it has 14,424 shares. Parkside Fincl Bank & holds 0% or 125 shares in its portfolio.

Since September 29, 2017, it had 0 insider buys, and 1 insider sale for $2,174 activity.

The stock of Ascena Retail Group, Inc. (ASNA) formed an ascending triangle with $2.09 target or 5.00 % below today’s $2.20 share price. The 6 months triangle pattern indicates high risk for the $420.01 million company. If the $2.09 price target is reached, the company will be worth $21.00M less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock decreased 0.23% or $0.005 during the last trading session, reaching $2.195. About 1.11M shares traded. Ascena Retail Group, Inc. (NASDAQ:ASNA) has declined 70.94% since January 23, 2017 and is downtrending. It has underperformed by 87.64% the S&P500.

Analysts await Ascena Retail Group, Inc. (NASDAQ:ASNA) to report earnings on March, 5. They expect $-0.09 earnings per share, down 28.57 % or $0.02 from last year’s $-0.07 per share. After $0.11 actual earnings per share reported by Ascena Retail Group, Inc. for the previous quarter, Wall Street now forecasts -181.82 % negative EPS growth.

Ascena Retail Group, Inc. (NASDAQ:ASNA) Ratings Coverage

Among 9 analysts covering Ascena Retail Group (NASDAQ:ASNA), 1 have Buy rating, 1 Sell and 7 Hold. Therefore 11% are positive. Ascena Retail Group had 28 analyst reports since September 24, 2015 according to SRatingsIntel. The rating was downgraded by Citigroup on Tuesday, March 7 to “Sell”. Telsey Advisory Group maintained Ascena Retail Group, Inc. (NASDAQ:ASNA) rating on Tuesday, January 12. Telsey Advisory Group has “Market Perform” rating and $13.0 target. The rating was maintained by FBR Capital on Wednesday, June 1 with “Outperform”. The firm earned “Overweight” rating on Wednesday, December 2 by Piper Jaffray. Guggenheim maintained Ascena Retail Group, Inc. (NASDAQ:ASNA) on Thursday, September 24 with “” rating. The stock has “Neutral” rating by FBR Capital on Tuesday, August 15. RBC Capital Markets downgraded Ascena Retail Group, Inc. (NASDAQ:ASNA) rating on Tuesday, September 20. RBC Capital Markets has “Sector Perform” rating and $7 target. On Tuesday, September 20 the stock rating was downgraded by FBR Capital to “Mkt Perform”. The stock of Ascena Retail Group, Inc. (NASDAQ:ASNA) has “Hold” rating given on Friday, June 9 by Cowen & Co. The stock has “Market Perform” rating by Oppenheimer on Tuesday, September 20.

More notable recent Ascena Retail Group, Inc. (NASDAQ:ASNA) news were published by: Businesswire.com which released: “ascena retail group, Inc. Announces Holiday Sales Results and Reaffirms Fiscal …” on January 08, 2018, also Seekingalpha.com with their article: “Ascena Retail: Run!” published on January 04, 2018, Seekingalpha.com published: “Ascena Q1 Update: Still Bullish Despite Volatility” on January 04, 2018. More interesting news about Ascena Retail Group, Inc. (NASDAQ:ASNA) were released by: Businesswire.com and their article: “ascena retail group, inc. Announces Participation in the 20th Annual ICR …” published on January 02, 2018 as well as Seekingalpha.com‘s news article titled: “Ascena Retail updates guidance” with publication date: January 08, 2018.

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