The stock of Destination Maternity Corp (NASDAQ:DEST) gapped up by $0.02 today and has $9.91 target or 40.00% above today’s $7.08 share price. The 6 months technical chart setup indicates low risk for the $102.93 million company. The gap was reported on Oct, 1 by Barchart.com. If the $9.91 price target is reached, the company will be worth $41.17 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 8.92% or $0.58 on September 30, hitting $7.08. About 124,251 shares traded hands or 39.45% up from the average. Destination Maternity Corp (NASDAQ:DEST) has declined 12.25% since February 29, 2016 and is downtrending. It has underperformed by 22.68% the S&P500.
According to Zacks Investment Research, “Destination Maternity Corporation engages in the design and retail of maternity apparel. It offers casual and career wear, formal attire, lingerie, sportswear, and outerwear. It is the provider of maternity apparel to Kohl’s, which operates approximately 834 stores throughout the United States. The Company operates its stores under four retail nameplates: Motherhood Maternity, Mimi Maternity, A Pea in the Pod and Destination Maternity.Destination Maternity Corporation, formerly known as Mothers Work, Inc., was founded in 1980 and is headquartered in Philadelphia, Pennsylvania.”
Insitutional Activity: The institutional sentiment decreased to 0.76 in Q2 2016. Its down 0.09, from 0.85 in 2016Q1. The ratio fall, as 9 funds sold all Destination Maternity Corp shares owned while 20 reduced positions. 6 funds bought stakes while 16 increased positions. They now own 9.96 million shares or 3.42% less from 10.31 million shares in 2016Q1.
Disciplined Growth Investors Mn accumulated 0.09% or 621,554 shares. Tower Research Capital Limited Company (Trc) accumulated 323 shares or 0% of the stock. First Heartland Consultants holds 0.03% of its portfolio in Destination Maternity Corp (NASDAQ:DEST) for 50,600 shares. Towle And has 1.06M shares for 1.15% of their US portfolio. Fincl Bank Of America De reported 200 shares or 0% of all its holdings. Diker Mngmt Limited Liability Corporation holds 52,736 shares or 0.12% of its portfolio. Whittier Trust Of Nevada last reported 250 shares in the company. Glenmede Na holds 0% of its portfolio in Destination Maternity Corp (NASDAQ:DEST) for 20,580 shares. Blackrock Ltd Liability has invested 0% of its portfolio in Destination Maternity Corp (NASDAQ:DEST). Northern Corporation accumulated 51,907 shares or 0% of the stock. Heartland holds 0.22% of its portfolio in Destination Maternity Corp (NASDAQ:DEST) for 660,000 shares. Goldman Sachs Grp Incorporated owns 25,288 shares or 0% of their US portfolio. Wellington Limited Liability Partnership has 589,235 shares for 0% of their US portfolio. Moors And Cabot Inc has 145,604 shares for 0.15% of their US portfolio. Moreover, Fmr Ltd Co has 0% invested in Destination Maternity Corp (NASDAQ:DEST) for 292,450 shares.
More notable recent Destination Maternity Corp (NASDAQ:DEST) news were published by: Blogs.Wsj.com which released: “CFO Moves: Destination Maternity Corp., The Wet Seal LLC, Xenia Hotels …” on March 29, 2016, also Prnewswire.com with their article: “Destination Maternity Names David Stern As Executive Vice President & Chief …” published on August 01, 2016, Prnewswire.com published: “Destination Maternity Announces Resignation Of CFO” on March 29, 2016. More interesting news about Destination Maternity Corp (NASDAQ:DEST) were released by: Wsj.com and their article: “After Being Rebuffed, Orchestra-Premaman Boosts Cash in Destination Maternity …” published on February 08, 2016 as well as Prnewswire.com‘s news article titled: “Destination Maternity Reports First Quarter Fiscal 2015 Financial Results” with publication date: June 11, 2015.
DEST Company Profile
Destination Maternity Corporation, formerly Mothers Work, Inc., incorporated on October 23, 1980, is a designer and retailer of maternity apparel in the United States. The Firm operates a chain of maternity apparel specialty stores. The Firm operates through the design, manufacture, and sale of maternity apparel and related accessories segment. It operates approximately 1,815 retail locations, including over 540 stores in the United States, Canada and Puerto Rico, and approximately 1,280 leased departments located within department stores and baby specialty stores throughout the United States, in Puerto Rico and, in England. The Firm sells merchandise on the Internet, primarily through its Motherhood.com, APeaInThePod.com and DestinationMaternity.com Websites. The Firm also sells its merchandise through its Canadian Website, MotherhoodCanada.ca, through Amazon.com in the United States, and through Websites of certain of its retail partners. The Firm provides maternity apparel to Kohl’s, which operates over 1,100 stores throughout the United States and offers its maternity apparel in a number of its stores. The Firm operates its over 540 stores under three retail nameplates: Motherhood Maternity, A Pea in the Pod and Destination Maternity. In addition to its over 540 stores, the Company operates approximately 1,280 maternity apparel departments, which it refers to as leased departments, within retailers, such as Macy’s, buybuy BABY, Boscov’s, Harrods and Century 21. The Firm provides maternity apparel in its leased department locations. The Firm operates approximately 475 leased departments within Sears stores.
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