ValuEngine Downgrades Centric Brands (NASDAQ:CTRC) to Hold

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Centric Brands (NASDAQ:CTRC) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday, ValuEngine reports.

NASDAQ CTRC traded up $0.09 on Thursday, hitting $4.19. 77,965 shares of the company were exchanged, compared to its average volume of 42,925. The stock has a market capitalization of $245.30 million, a P/E ratio of -0.70 and a beta of -1.08. Centric Brands has a 12 month low of $2.81 and a 12 month high of $6.89. The stock’s fifty day moving average is $3.66. The company has a debt-to-equity ratio of 304.20, a quick ratio of 0.25 and a current ratio of 0.77.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC bought a new position in Centric Brands during the fourth quarter worth $75,000. Northern Trust Corp bought a new position in Centric Brands during the fourth quarter worth $103,000. Dimensional Fund Advisors LP bought a new position in Centric Brands during the fourth quarter worth $197,000. Geode Capital Management LLC bought a new position in Centric Brands during the fourth quarter worth $327,000. Finally, Altfest L J & Co. Inc. boosted its stake in Centric Brands by 24.1% during the first quarter. Altfest L J & Co. Inc. now owns 106,106 shares of the company’s stock worth $477,000 after acquiring an additional 20,600 shares in the last quarter. 53.22% of the stock is currently owned by institutional investors and hedge funds.

Centric Brands Company Profile

Centric Brands Inc designs, produces, manages, and builds kid's wear, and women's and men's accessories and apparel, and distributes its products across various retail and digital channels in North America and international markets. The company also licenses approximately 100 brands across its core product categories, including kid's, women's, and men's accessories and apparel.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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