Is Selling Stock Like Buckle Inc (BKE) After This Bearish Double Bottom Pattern Winning Strategy?

July 17, 2017 - By Nellie Frank

Investors sentiment decreased to 1.17 in Q4 2016. Its down 0.23, from 1.4 in 2016Q3. It worsened, as 26 investors sold Buckle Inc shares while 40 reduced holdings. 24 funds opened positions while 53 raised stakes. 29.74 million shares or 1.59% less from 30.22 million shares in 2016Q3 were reported.
Deutsche Bancorp Ag, Germany-based fund reported 107,649 shares. Da Davidson & holds 0% of its portfolio in Buckle Inc (NYSE:BKE) for 2,861 shares. 32,455 were reported by Adams Asset Advisors Limited Com. Fort Lp reported 318,378 shares stake. Jensen Invest Mngmt Incorporated reported 17,970 shares or 0.01% of all its holdings. Kcg Hldgs holds 0.02% or 28,878 shares. Creative Planning invested in 0% or 17,832 shares. Moreover, Dreman Value Mgmt L L C has 0% invested in Buckle Inc (NYSE:BKE). Us Bank & Trust De reported 13,638 shares stake. Ahl Prns Ltd Liability Partnership accumulated 132,577 shares. Horizon Kinetics Ltd Liability has 0.01% invested in Buckle Inc (NYSE:BKE). 12,721 were accumulated by Paloma Ptnrs. Morgan Dempsey Lc accumulated 55,165 shares. Victory Cap reported 13,676 shares. 168 are held by Oakworth Capital.

The chart of Buckle Inc (BKE) shows a double bottom with $15.60 target or 6.00 % below today’s $16.60 share price. The 6 months chart pattern indicates high risk for the $780.33M company. It was reported on Jul, 17 by Finviz.com. If the $15.60 price target is reached, the company will be worth $46.82M less. Double bottoms are rare but powerful chart patterns.

It closed at $16.6 lastly. It is down 25.41% since July 17, 2016 and is downtrending. It has underperformed by 42.11% the S&P500.

Buckle Inc (NYSE:BKE) Ratings Coverage

Among 3 analysts covering Buckle Inc (NYSE:BKE), 0 have Buy rating, 2 Sell and 1 Hold. Therefore 0 are positive. Buckle Inc had 12 analyst reports since August 18, 2015 according to SRatingsIntel. Sterne Agee CRT maintained the stock with “Hold” rating in Sunday, August 23 report. Standpoint Research downgraded the stock to “Hold” rating in Wednesday, March 30 report. Wolfe Research initiated Buckle Inc (NYSE:BKE) on Tuesday, August 18 with “Peer Perform” rating. As per Friday, May 6, the company rating was downgraded by Wolfe Research. The stock of Buckle Inc (NYSE:BKE) earned “Sell” rating by Zacks on Monday, August 24. The rating was downgraded by Deutsche Bank to “Sell” on Friday, May 19. The rating was upgraded by Deutsche Bank to “Hold” on Friday, April 7. As per Saturday, August 22, the company rating was maintained by Brean Capital. The stock of Buckle Inc (NYSE:BKE) has “Buy” rating given on Thursday, January 7 by Standpoint Research.

More recent Buckle Inc (NYSE:BKE) news were published by: Businesswire.com which released: “The Buckle, Inc. Reports June 2017 Net Sales” on July 06, 2017. Also Seekingalpha.com published the news titled: “Buckle’s Future: Cheap and Cheaper” on July 12, 2017. Seekingalpha.com‘s news article titled: “Denim Trends Drive This Retailer’s Revenues” with publication date: July 17, 2017 was also an interesting one.

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