What Will Happen to Cato Corp (CATO) Next? The Stock Formed a Several Months Wedge Down

September 17, 2017 - By Darrin Black

Investors sentiment decreased to 1.11 in 2016 Q4. Its down 0.35, from 1.46 in 2016Q3. It turned negative, as 15 investors sold Cato Corp shares while 47 reduced holdings. 26 funds opened positions while 43 raised stakes. 20.03 million shares or 2.38% less from 20.52 million shares in 2016Q3 were reported.
Brown Advisory has invested 0.03% in Cato Corp (NYSE:CATO). Millennium Lc reported 26,141 shares stake. Meeder Asset Mgmt holds 838 shares or 0% of its portfolio. Loomis Sayles & L P holds 358 shares. D E Shaw And Com reported 0.01% in Cato Corp (NYSE:CATO). Citigroup holds 0% or 79,220 shares. State Street invested in 0% or 696,005 shares. Thrivent For Lutherans has invested 0% in Cato Corp (NYSE:CATO). Ahl Llp holds 0.01% of its portfolio in Cato Corp (NYSE:CATO) for 6,740 shares. Riverhead Management Ltd Liability Corp has 0% invested in Cato Corp (NYSE:CATO) for 500 shares. Gemmer Asset Mngmt Limited Co reported 0% of its portfolio in Cato Corp (NYSE:CATO). 2.04 million are held by Blackrock Fund Advsr. Parametric Ltd Co accumulated 62,747 shares. Franklin Inc holds 0.01% or 863,774 shares in its portfolio. Moreover, Wellington Group Inc Llp has 0.01% invested in Cato Corp (NYSE:CATO) for 1.88M shares.

Since March 17, 2017, it had 1 buying transaction, and 0 insider sales for $16,760 activity. WEISIGER – JR EDWARD I bought 3,100 shares worth $67,503.

The stock of Cato Corp (CATO) formed a down wedge with $13.04 target or 4.00 % below today’s $13.58 share price. The 5 months wedge indicates high risk for the $345.46 million company. If the $13.04 price target is reached, the company will be worth $13.82M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 0.97% or $0.13 on September 15, reaching $13.58. About 532,805 shares traded or 43.74% up from the average. Cato Corp (NYSE:CATO) has declined 41.89% since September 17, 2016 and is downtrending. It has underperformed by 58.59% the S&P500.

More important recent Cato Corp (NYSE:CATO) news were published by: Streetinsider.com which released: “Cato Corp. (CATO) August Same-Store Sales Decline 10%” on August 31, 2017, also Nasdaq.com published article titled: “Cato Corporation (CATO) Ex-Dividend Date Scheduled for September 08, 2017”, Charlotteobserver.com published: “‘All white men’: Charlotte women’s retailer criticized over board makeup” on May 18, 2017. More interesting news about Cato Corp (NYSE:CATO) was released by: Seekingalpha.com and their article: “Cato: Covering The Short, And Hoping For Another Shot” with publication date: August 28, 2017.

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