Insiders are snapping up a solid amount of shares in Charming Shoppes (CHRS), a multi-brand, specialty apparel retailer with a market share in women's plus-size specialty apparel. Insiders are buying into strength since shares of Charming Shoppes are up over 11% so far in 2012.
Charming Shoppes has a market cap of $631 million and an enterprise value of $614 million. This stock trades at a reasonable valuation, with a price-to-sales of 0.31 and a price-to-book of 1.47. This is barley a cash-rich company, since the total cash position on its balance sheet is $157.75 million and its total debt is $143.08 million.A beneficial owner just bought 291,900 shares, or $1.52 million worth of stock, aT $5.20 to $5.22 per share. From a technical perspective, CHRS is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock recently triggered a big breakout trade once it moved above some near-term overhead resistance at $5 to $5.07 a share. Since triggering that breakout, the stock has run up towards its current price of just over $5.50 a share. If you're bullish on CHRS, I would continue to look for long-biased trades as long as the stock continues to tend above those recent breakout levels, and its 50-day moving average of $4.99 a share. As long as those levels can hold, then this stock has a great chance of re-test its next significant overhead resistance levels at $6 to $6.91 a share in the very near future. One big bet on Charming Shoppes comes from Leon Cooperman's Omega Advisors, which increased its position in the stock by 47% in the fourth quarter, to 12.1 million shares. Follow @stockpickr
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV