Ellington Management Group LLC purchased a new stake in shares of Lululemon Athletica inc. (NASDAQ:LULU) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,600 shares of the apparel retailer’s stock, valued at approximately $1,147,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in LULU. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Lululemon Athletica by 702.6% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,525 shares of the apparel retailer’s stock worth $120,000 after acquiring an additional 1,335 shares in the last quarter. Zions Bancorporation increased its holdings in Lululemon Athletica by 183.2% in the 3rd quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock worth $130,000 after acquiring an additional 1,356 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in Lululemon Athletica in the 3rd quarter worth approximately $156,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in Lululemon Athletica in the 4th quarter worth approximately $171,000. Finally, American International Group Inc. purchased a new stake in Lululemon Athletica in the 4th quarter worth approximately $180,000. 80.18% of the stock is owned by hedge funds and other institutional investors.
In other news, major shareholder Dennis J. Wilson sold 722,134 shares of Lululemon Athletica stock in a transaction on Monday, February 12th. The stock was sold at an average price of $77.47, for a total transaction of $55,943,720.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by company insiders.
Shares of Lululemon Athletica inc. (LULU) opened at $81.00 on Monday. Lululemon Athletica inc. has a 52-week low of $47.26 and a 52-week high of $83.98. The firm has a market capitalization of $10,965.70, a price-to-earnings ratio of 40.30, a PEG ratio of 2.08 and a beta of 0.22.
Lululemon Athletica announced that its board has authorized a stock repurchase program on Wednesday, December 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the apparel retailer to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
Lululemon Athletica Profile
lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.
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