Sears Holdings Corp. (SHLD) Sets New 12-Month Low Following Insider Selling
Shares of Sears Holdings Corp. (NASDAQ:SHLD) hit a new 52-week low on Thursday after an insider sold shares in the company. The stock traded as low as $10.50 and last traded at $10.65, with a volume of 479,159 shares. 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 on Thursday, August 11th. The stock was sold at an average price of $17.09, for a total transaction of $32,471.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 80.60% of the stock is owned by insiders.
The stock has a 50 day moving average of $12.18 and a 200 day moving average of $13.97. The firm’s market capitalization is $1.13 billion.
Sears Holdings Corp. (NASDAQ:SHLD) last released its quarterly earnings results on Thursday, August 25th. The company reported ($2.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($3.48) by $1.45. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the prior year, the business earned ($2.40) earnings per share. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, analysts predict that Sears Holdings Corp. will post ($9.91) earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Contrarius Investment Management Ltd acquired a new stake in Sears Holdings Corp. during the second quarter worth $11,376,000. Kingstown Capital Management L.P. boosted its stake 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 in the last quarter. Chou Associates Management Inc. boosted its stake 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 in the last quarter. BlackRock Fund Advisors boosted its stake in Sears Holdings Corp. by 97.1% in the second quarter. BlackRock Fund Advisors now owns 315,324 shares of the company’s stock worth $4,292,000 after buying an additional 155,368 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Sears Holdings Corp. during the first quarter worth $2,069,000. 69.09% of the stock is 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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