American Apparel CEO Buys $19,693,013 in Stock (APP)
American Apparel (NYSE:APP) CEO Dov Charney purchased 27,351,407 shares of American Apparel stock on the open market in a transaction dated Friday, June 27th. The shares were purchased at an average cost of $0.72 per share, for a total transaction of $19,693,013.04. Following the completion of the acquisition, the chief executive officer now directly owns 74,560,813 shares of the company’s stock, valued at approximately $53,683,785. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Brean Capital cut their price target on shares of American Apparel from $2.00 to $1.50 in a research note on Friday, April 11th. They now have a “buy” rating on the stock.
Shares of American Apparel (NYSE:APP) traded down 6.82% on Monday, hitting $0.90. The stock had a trading volume of 17,316,940 shares. American Apparel has a one year low of $0.46 and a one year high of $2.09. The stock has a 50-day moving average of $0.6 and a 200-day moving average of $0.79. The company’s market cap is $156.1 million.
American Apparel (NYSE:APP) last released its earnings data on Monday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.15. The company had revenue of $137.10 million for the quarter, compared to the consensus estimate of $136.95 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts predict that American Apparel will post $-0.18 earnings per share for the current fiscal year.
American Apparel, Inc is a vertically-integrated manufacturer, distributor and retailer of branded fashion basic apparel.
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