Insider Buying: Lands’ End Inc. (LE) Major Shareholder Purchases $1,138,494.98 in Stock
Lands’ End Inc. (NASDAQ:LE) major shareholder Edward S. Lampert bought 76,001 shares of the business’s stock in a transaction dated Thursday, October 6th. The shares were acquired at an average cost of $14.98 per share, for a total transaction of $1,138,494.98. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Shares of Lands’ End Inc. (NASDAQ:LE) opened at 15.36 on Friday. The firm’s market cap is $491.97 million. The stock’s 50 day moving average price is $16.95 and its 200 day moving average price is $18.40. Lands’ End Inc. has a 12 month low of $14.03 and a 12 month high of $27.60.
Lands’ End (NASDAQ:LE) last posted its quarterly earnings results on Thursday, September 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.08. Lands’ End had a negative net margin of 2.66% and a positive return on equity of 6.51%. The firm had revenue of $292 million for the quarter, compared to analysts’ expectations of $292.25 million. During the same period last year, the firm posted $0.23 EPS. Lands’ End’s revenue was down 6.5% on a year-over-year basis. Equities research analysts predict that Lands’ End Inc. will post $0.49 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the stock. Paloma Partners Management Co increased its stake in Lands’ End by 4.3% in the second quarter. Paloma Partners Management Co now owns 12,255 shares of the company’s stock worth $201,000 after buying an additional 507 shares during the period. Dimensional Fund Advisors LP increased its stake in Lands’ End by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 136,548 shares of the company’s stock worth $2,242,000 after buying an additional 2,824 shares during the period. BlackRock Investment Management LLC increased its stake in Lands’ End by 6.5% in the second quarter. BlackRock Investment Management LLC now owns 64,041 shares of the company’s stock worth $1,052,000 after buying an additional 3,894 shares during the period. Royce & Associates LP increased its stake 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. Finally, California Public Employees Retirement System increased its stake in Lands’ End by 6.8% in the second quarter. California Public Employees Retirement System now owns 79,727 shares of the company’s stock worth $1,309,000 after buying an additional 5,100 shares during the period. 71.31% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on LE. Zacks Investment Research raised Lands’ End from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. CL King lowered Lands’ End from a “buy” rating to a “neutral” rating in a research report on Monday, September 26th.
Lands’ End Company Profile
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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