Keep an eye on Children’s Place (PLCE).
After struggling for months, the stock is coming back strong. Not only did it just refill its bearish gap around $24.48, it’s seeing a good deal of insider interest, too. In fact, earlier this month, President and CEO, Jane Elfers bought 43,000 shares of PLCE for $1 million at an average price of $23.70. She now owns 370,033 shares of the company. The last time the President and CEO bought shares was in 2019, when she bought 18,100 shares.
Helping, analysts at B. Riley also see PLCE as an undervalued growth opportunity, noting, “We continue to like the fundamental, transformational story of PLCE. From a stock set-up perspective, we’d be remiss if we didn’t highlight the notion that it appears to us PLCE now has four consecutive quarters of low expectations, potentially explosive upside catalysts and seemingly easy compares.” B. Riley has a buy rating, with a $43 price target on shares of PLCE.
Sincerely,
Ian Cooper
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