Lululemon Athletica inc. (NASDAQ:LULU) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 4,613,366 shares, a growth of 28.6% from the February 15th total of 3,587,243 shares. Based on an average trading volume of 1,420,697 shares, the days-to-cover ratio is presently 3.2 days. Approximately 4.7% of the shares of the company are sold short.
In other news, major shareholder Dennis J. Wilson sold 722,134 shares of Lululemon Athletica stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company’s stock.
Several institutional investors have recently bought and sold shares of LULU. Millennium Management LLC raised its holdings in shares of Lululemon Athletica by 340.6% during the 4th quarter. Millennium Management LLC now owns 855,796 shares of the apparel retailer’s stock worth $67,257,000 after buying an additional 661,547 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Lululemon Athletica during the 3rd quarter worth $37,996,000. Bank of New York Mellon Corp raised its holdings in shares of Lululemon Athletica by 132.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,014,384 shares of the apparel retailer’s stock worth $63,146,000 after buying an additional 578,248 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Lululemon Athletica by 311.5% during the 4th quarter. Alliancebernstein L.P. now owns 691,777 shares of the apparel retailer’s stock worth $54,367,000 after buying an additional 523,653 shares in the last quarter. Finally, Element Capital Management LLC acquired a new position in shares of Lululemon Athletica during the 4th quarter worth $29,521,000. 80.18% of the stock is owned by institutional investors.
Lululemon Athletica (NASDAQ:LULU) opened at $80.33 on Tuesday. Lululemon Athletica has a fifty-two week low of $47.26 and a fifty-two week high of $83.98. The company has a market capitalization of $10,880.00, a price-to-earnings ratio of 39.97, a PEG ratio of 2.08 and a beta of 0.22.
Lululemon Athletica declared that its board has approved a share 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 buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
About Lululemon Athletica
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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