Sears Holdings Corp. (SHLD) Reaches New 12-Month Low on Insider Selling
Sears Holdings Corp. (NASDAQ:SHLD) shares reached a new 52-week low during mid-day trading on Thursday following insider selling activity. The stock traded as low as $10.50 and last traded at $10.65, with a volume of 479,159 shares trading hands. The stock had previously closed at $10.87.
Specifically, Director Fairholme Capital Management L sold 1,900 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $17.09, for a total value of $32,471.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 80.60% of the stock is currently owned by company insiders.
The company’s 50-day moving average price is $12.34 and its 200-day moving average price is $13.99. The company’s market capitalization is $1.13 billion.
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Sears Holdings Corp. (NASDAQ:SHLD) last released its earnings results on Thursday, August 25th. The company reported ($2.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.48) by $1.45. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $5.43 billion. Sears Holdings Corp.’s revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.40) earnings per share. On average, analysts forecast that Sears Holdings Corp. will post ($9.91) earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in Sears Holdings Corp. by 0.7% in the second quarter. State Street Corp now owns 2,282,702 shares of the company’s stock worth $31,065,000 after buying an additional 14,769 shares during the last quarter. Vanguard Group Inc. raised its position in Sears Holdings Corp. by 5.9% in the second quarter. Vanguard Group Inc. now owns 1,959,635 shares of the company’s stock worth $26,670,000 after buying an additional 109,364 shares during the last quarter. Kingstown Capital Management L.P. raised its position in Sears Holdings Corp. by 82.5% in the first quarter. Kingstown Capital Management L.P. now owns 1,825,000 shares of the company’s stock worth $27,941,000 after buying an additional 825,000 shares during the last quarter. Chou Associates Management Inc. raised its position in Sears Holdings Corp. by 38.8% in the second quarter. Chou Associates Management Inc. now owns 1,431,610 shares of the company’s stock worth $19,484,000 after buying an additional 400,000 shares during the last quarter. Finally, Contrarius Investment Management Ltd purchased a new position in Sears Holdings Corp. during the second quarter worth about $11,376,000. 69.09% of the stock is currently owned by hedge funds and other institutional investors.
About Sears Holdings Corp.
Sears Holdings Corporation is an integrated retailer. The Company is the parent company of Kmart Holding Corporation (Kmart) and Sears, Roebuck and Co (Sears). It operates through two segments: Kmart and Sears Domestic. It operates approximately 940 Kmart stores across over 50 states, Guam, Puerto Rico and the United States Virgin Islands.
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