MetLife Investment Management LLC Sells 96,924 Shares of American Eagle Outfitters, Inc. (NYSE:AEO)

Posted by Defense World Staff on Mar 2nd, 2023

MetLife Investment Management LLC lessened its stake in American Eagle Outfitters, Inc. (NYSE:AEO – Get Rating) by 54.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,276 shares of the apparel retailer’s stock after selling 96,924 shares during the period. MetLife Investment Management LLC’s holdings in American Eagle Outfitters were worth $791,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Eisler Capital UK Ltd. bought a new stake in shares of American Eagle Outfitters in the third quarter valued at about $34,000. Hsbc Holdings PLC lifted its stake in American Eagle Outfitters by 10.3% during the third quarter. Hsbc Holdings PLC now owns 423,554 shares of the apparel retailer’s stock worth $4,245,000 after purchasing an additional 39,439 shares during the period. Envestnet Asset Management Inc. lifted its stake in American Eagle Outfitters by 5.7% during the third quarter. Envestnet Asset Management Inc. now owns 47,061 shares of the apparel retailer’s stock worth $458,000 after purchasing an additional 2,538 shares during the period. Credit Suisse AG lifted its stake in American Eagle Outfitters by 20.9% during the third quarter. Credit Suisse AG now owns 957,198 shares of the apparel retailer’s stock worth $9,313,000 after purchasing an additional 165,417 shares during the period. Finally, Nierenberg Investment Management Company Inc. lifted its stake in American Eagle Outfitters by 6.8% during the third quarter. Nierenberg Investment Management Company Inc. now owns 47,310 shares of the apparel retailer’s stock worth $460,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 93.34% of the company’s stock.

Insiders Place Their Bets

In other American Eagle Outfitters news, EVP Michael R. Rempell sold 33,642 shares of American Eagle Outfitters stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $15.99, for a total transaction of $537,935.58. Following the completion of the sale, the executive vice president now owns 171,973 shares of the company’s stock, valued at approximately $2,749,848.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other American Eagle Outfitters news, insider Jennifer M. Foyle sold 70,214 shares of American Eagle Outfitters stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $16.88, for a total transaction of $1,185,212.32. Following the completion of the sale, the insider now owns 140,545 shares of the company’s stock, valued at approximately $2,372,399.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael R. Rempell sold 33,642 shares of American Eagle Outfitters stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $15.99, for a total transaction of $537,935.58. Following the sale, the executive vice president now directly owns 171,973 shares of the company’s stock, valued at approximately $2,749,848.27. The disclosure for this sale can be found here. Company insiders own 8.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on AEO shares. Barclays cut their price target on shares of American Eagle Outfitters from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, January 13th. Telsey Advisory Group restated a “market perform” rating and set a $17.00 price target on shares of American Eagle Outfitters in a research note on Wednesday, February 22nd. JPMorgan Chase & Co. raised their price target on shares of American Eagle Outfitters from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, January 23rd. UBS Group lifted their target price on shares of American Eagle Outfitters to $23.00 in a research note on Monday, November 28th. Finally, Cowen lifted their target price on shares of American Eagle Outfitters to $15.00 in a research note on Thursday, November 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, American Eagle Outfitters has an average rating of “Hold” and a consensus price target of $15.08.

American Eagle Outfitters Stock Performance

Shares of American Eagle Outfitters stock opened at $14.13 on Thursday. The firm has a 50 day simple moving average of $15.23 and a 200 day simple moving average of $13.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.86 and a quick ratio of 0.70. American Eagle Outfitters, Inc. has a fifty-two week low of $9.46 and a fifty-two week high of $21.57. The firm has a market cap of $2.65 billion, a P/E ratio of 23.95, a P/E/G ratio of 1.15 and a beta of 1.47.

American Eagle Outfitters Company Profile

(Get Rating)

American Eagle Outfitters, Inc is a multi-brand specialty retailer, which offers an assortment of apparel and accessories for men and women under the American Eagle Outfitters brand, and intimates, apparel and personal care products for women under the Aerie brand. The firm operates stores in the United States, Canada, Mexico, Hong Kong, China and the United Kingdom.