A Reversal for Cato Corp (CATO) Is Not Near. The Formed Wedge Down Pattern

September 17, 2017 - By Clifton Ray

Investors sentiment decreased to 1.11 in Q4 2016. 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.
Blackrock Group holds 59,438 shares. Ahl Prtn Ltd Liability Partnership accumulated 0.01% or 6,740 shares. Price T Rowe Associate Md stated it has 0% of its portfolio in Cato Corp (NYSE:CATO). Paradigm Asset Mgmt Limited Liability Corporation holds 3,800 shares. Sei Investments Com invested in 8 shares or 0% of the stock. Capstone Asset Mngmt reported 0.01% in Cato Corp (NYSE:CATO). Peak6 Invests L P stated it has 5,555 shares. Guggenheim Cap Limited Liability Company holds 0% of its portfolio in Cato Corp (NYSE:CATO) for 42,825 shares. Lsv Asset Mngmt holds 67,700 shares or 0% of its portfolio. 41,700 were accumulated by Swiss Savings Bank. Barclays Public Limited Co accumulated 4,865 shares or 0% of the stock. Sector Pension Investment Board has invested 0.01% in Cato Corp (NYSE:CATO). Renaissance Tech holds 0% or 93,200 shares in its portfolio. Eagle Asset Mgmt owns 168,114 shares. 24,335 were reported by Pinebridge L P.

Since March 17, 2017, it had 1 buying transaction, and 0 selling transactions for $16,760 activity. 3,100 shares were bought by WEISIGER – JR EDWARD I, 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: Charlotteobserver.com which released: “‘All white men’: Charlotte women’s retailer criticized over board makeup” on May 18, 2017, also Streetinsider.com published article titled: “Cato Corp. (CATO) August Same-Store Sales Decline 10%”, Nasdaq.com published: “Cato Corporation (CATO) Ex-Dividend Date Scheduled for September 08, 2017” on September 07, 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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