Sears Holdings Corp (SHLD) Major Shareholder Bruce R. Berkowitz Sells 415,700 Shares
Sears Holdings Corp (NASDAQ:SHLD) major shareholder Bruce R. Berkowitz sold 415,700 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $3.43, for a total transaction of $1,425,851.00. Following the completion of the sale, the insider now directly owns 799,516 shares in the company, valued at $2,742,339.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Sears Holdings Corp (SHLD) opened at $3.60 on Friday. Sears Holdings Corp has a twelve month low of $3.09 and a twelve month high of $14.32. The company has a debt-to-equity ratio of -0.51, a current ratio of 0.80 and a quick ratio of 0.19. The stock has a market cap of $387.41, a price-to-earnings ratio of -0.33 and a beta of 1.36.
Sears (NASDAQ:SHLD) last issued its earnings results on Thursday, November 30th. The company reported ($2.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.46) by $1.82. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the company posted ($3.45) EPS. The company’s quarterly revenue was down 27.2% on a year-over-year basis.
Institutional investors have recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Sears by 5.9% in the 2nd quarter. State Street Corp now owns 2,087,415 shares of the company’s stock valued at $18,496,000 after buying an additional 116,765 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Sears in the 2nd quarter valued at $117,000. GSA Capital Partners LLP acquired a new position in shares of Sears in the 3rd quarter valued at $1,541,000. Cyrus Capital Partners L.P. boosted its holdings in shares of Sears by 283.3% in the 2nd quarter. Cyrus Capital Partners L.P. now owns 115,000 shares of the company’s stock valued at $1,019,000 after buying an additional 85,000 shares in the last quarter. Finally, Manatuck Hill Partners LLC acquired a new position in shares of Sears in the 2nd quarter valued at $255,000. Institutional investors and hedge funds own 60.10% of the company’s stock.
A number of equities research analysts have commented on the stock. BidaskClub raised shares of Sears from a “strong sell” rating to a “sell” rating in a research report on Saturday. Susquehanna Bancshares dropped their price objective on shares of Sears from $3.00 to $2.50 and set a “negative” rating on the stock in a research report on Thursday. Moffett Nathanson assumed coverage on shares of Sears in a research report on Monday, December 4th. They issued a “sell” rating on the stock. Finally, ValuEngine raised shares of Sears from a “strong sell” rating to a “sell” rating in a research report on Friday, December 1st. Five equities research analysts have rated the stock with a sell rating, The stock has an average rating of “Sell” and an average target price of $4.78.
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Sears Company Profile
Sears Holdings Corporation is an integrated retailer. The Company is the parent company of Kmart Holding Corporation (Kmart) and Sears, Roebuck and Co (Sears). The Company’s segments are Kmart and Sears Domestic. It also offers Shop Your Way, a member-based social shopping platform that offers rewards and personalized services.
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