Insider Buying: Lands’ End Inc. (LE) Major Shareholder Buys 59,890 Shares of Stock
Lands’ End Inc. (NASDAQ:LE) major shareholder Edward S. Lampert bought 59,890 shares of the company’s stock in a transaction that occurred on Tuesday, October 11th. The shares were bought at an average price of $14.89 per share, for a total transaction of $891,762.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Lands’ End Inc. (NASDAQ:LE) traded down 0.13% during mid-day trading on Wednesday, reaching $14.89. The company’s stock had a trading volume of 66,440 shares. The firm has a 50 day moving average price of $17.05 and a 200 day moving average price of $18.42. Lands’ End Inc. has a 52-week low of $14.03 and a 52-week high of $27.60. The company’s market cap is $476.91 million.
Lands’ End (NASDAQ:LE) last released its quarterly earnings results on Thursday, September 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by $0.08. The company had revenue of $292 million for the quarter, compared to analyst estimates of $292.25 million. Lands’ End had a negative net margin of 2.66% and a positive return on equity of 6.51%. Lands’ End’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. Equities research analysts anticipate that Lands’ End Inc. will post $0.49 earnings per share for the current year.
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Several analysts recently issued reports on the company. Zacks Investment Research upgraded Lands’ End from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 3rd. CL King lowered Lands’ End from a “buy” rating to a “neutral” rating in a research note on Monday, September 26th.
A number of institutional investors have recently added to or reduced their stakes in the stock. Teton Advisors Inc. increased its position in Lands’ End by 28.6% in the second quarter. Teton Advisors Inc. now owns 36,000 shares of the company’s stock worth $591,000 after buying an additional 8,000 shares during the period. Royce & Associates LP increased its position in Lands’ End by 4.2% in the second quarter. Royce & Associates LP now owns 99,000 shares of the company’s stock worth $1,626,000 after buying an additional 4,000 shares during the period. Commonwealth Equity Services Inc increased its position in Lands’ End by 114.5% in the first quarter. Commonwealth Equity Services Inc now owns 23,042 shares of the company’s stock worth $588,000 after buying an additional 12,298 shares during the period. Royal Bank of Canada increased its position in Lands’ End by 114.9% in the first quarter. Royal Bank of Canada now owns 19,957 shares of the company’s stock worth $509,000 after buying an additional 154,295 shares during the period. Finally, Gabelli Funds LLC increased its position in Lands’ End by 26.7% in the second quarter. Gabelli Funds LLC now owns 38,000 shares of the company’s stock worth $624,000 after buying an additional 8,000 shares during the period. Institutional investors and hedge funds own 71.31% of the company’s stock.
About Lands’ End
Lands’ End, Inc (Lands’ End) is a multi-channel retailer of casual clothing, accessories and footwear, as well as home products. The Company operates through two segments: Direct and Retail. The Company offers products through catalogs, online at www.landsend.com. The Direct segment sells products through the Company’s e-commerce Websites, international Websites and direct mail catalogs.
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