Sears Holdings Corp. (SHLD) Reaches New 12-Month Low on Insider Selling
Shares of Sears Holdings Corp. (NASDAQ:SHLD) hit a new 52-week low during mid-day trading 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 changing hands. The stock had previously closed at $10.87.
Specifically, Director Fairholme Capital Management L sold 11,700 shares of Sears Holdings Corp. stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $11.68, for a total transaction of $136,656.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 80.60% of the company’s stock.
The company’s 50-day moving average is $12.34 and its 200-day moving average is $13.99. The firm’s market capitalization is $1.13 billion.
Sears Holdings Corp. (NASDAQ:SHLD) last released its earnings results on Thursday, August 25th. The company reported ($2.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($3.48) by $1.45. The firm earned $2.66 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Sears Holdings Corp.’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter last year, the company posted ($2.40) earnings per share. On average, equities research analysts expect that Sears Holdings Corp. will post ($9.91) EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in Sears Holdings Corp. by 0.7% in the second quarter. State Street Corp now owns 2,282,702 shares of the company’s stock worth $31,065,000 after buying an additional 14,769 shares during the period. Vanguard Group Inc. raised its position in Sears Holdings Corp. by 5.9% in the second quarter. Vanguard Group Inc. now owns 1,959,635 shares of the company’s stock worth $26,670,000 after buying an additional 109,364 shares during the period. Kingstown Capital Management L.P. raised its position 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 during the period. Chou Associates Management Inc. raised its position 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 during the period. Finally, Contrarius Investment Management Ltd purchased a new position in Sears Holdings Corp. during the second quarter worth about $11,376,000. Institutional investors own 69.09% of the company’s stock.
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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