AEO - American Eagle gains amid activist speculation after 13F filing

2023-08-04 10:45:08 ET

• American Eagle Outfitters ( NYSE: AEO ) rose 3.4% amid speculation of potential activist involvement after a 13F filing and the clothing retailer preannouncing Q2 results.
• Barclays was buying American Eagle ( AEO ), according to its recent 13F filing, which Gordon Haskett's Don Bilson highlighted in a note on Friday. Barclays purchased 3.15 million AEO shares in Q2 and is among the top 15 holders as of the end of June.
• The additions from Barclays are noteworthy because prime brokerages sometimes act as counterparties for activist swap positions.
• American Eagle ( AEO ) also announced on Thursday that Chief Operations Officer, Michael Rempell resigned effective early 2024 to pursue personal interests. The executive news is curious, as Rempell was viewed as CEO Jay Schottenstein's "heir apparent," according to Bilson.
• American Eagle ( AEO ) short interest is 9.7%.

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