Cato (NYSE:CATO) Stock Passes Above 200 Day Moving Average – Here’s Why

Cato Corporation (The) (NYSE:CATO)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.12 and traded as high as $3.51. Cato shares last traded at $3.2410, with a volume of 77,813 shares.

Cato Price Performance

The business has a fifty day simple moving average of $2.98 and a two-hundred day simple moving average of $3.12. The company has a market cap of $64.69 million, a PE ratio of -323.78 and a beta of 0.59.

Cato (NYSE:CATO) last issued its quarterly earnings data on Tuesday, May 26th. The specialty retailer reported $0.47 EPS for the quarter. Cato had a return on equity of 0.05% and a net margin of 0.01%.The firm had revenue of $171.10 million during the quarter.

Hedge Funds Weigh In On Cato

A hedge fund recently raised its stake in Cato stock. Goldman Sachs Group Inc. boosted its stake in shares of Cato Corporation (The) (NYSE:CATO) by 76.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 47,437 shares of the specialty retailer’s stock after purchasing an additional 20,521 shares during the period. Goldman Sachs Group Inc. owned approximately 0.24% of Cato worth $158,000 at the end of the most recent quarter. 61.10% of the stock is owned by institutional investors.

About Cato

Cato Corporation is a specialty apparel retailer headquartered in Charlotte, North Carolina. Founded in 1946 by Carl and Bernice Cato, the company operates two banner store concepts—Cato and Versona—and maintains an e-commerce platform to extend its reach beyond brick-and-mortar locations. Cato’s retail mission centers on providing fashionable women’s clothing and accessories at moderate price points.

With over 1,200 stores across more than 30 U.S. states, primarily concentrated in the Southeastern and Mid-Atlantic regions, Cato serves a broad customer base seeking everyday and occasion-driven wardrobe solutions.