Lululemon Athletica Inc. (LULU) Short Interest Down 13.2% in November
Lululemon Athletica Inc. (NASDAQ:LULU) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 14,507,389 shares, a drop of 13.2% from the October 31st total of 16,705,361 shares. Approximately 15.0% of the shares of the stock are sold short. Based on an average trading volume of 1,648,172 shares, the short-interest ratio is currently 8.8 days.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Glenmede Trust Co. NA boosted its position in shares of Lululemon Athletica by 136.7% in the second quarter. Glenmede Trust Co. NA now owns 1,373 shares of the apparel retailer’s stock valued at $100,000 after buying an additional 793 shares in the last quarter. Mizuho Asset Management Co. Ltd. boosted its position in shares of Lululemon Athletica by 128.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,360 shares of the apparel retailer’s stock valued at $100,000 after buying an additional 765 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Lululemon Athletica by 131.7% in the second quarter. Victory Capital Management Inc. now owns 1,536 shares of the apparel retailer’s stock valued at $113,000 after buying an additional 873 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in shares of Lululemon Athletica during the second quarter valued at $118,000. Finally, Advisor Group Inc. acquired a new position in shares of Lululemon Athletica during the second quarter valued at $124,000. Institutional investors and hedge funds own 91.36% of the company’s stock.
A number of equities research analysts have weighed in on LULU shares. Wedbush raised their target price on Lululemon Athletica from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, September 2nd. Zacks Investment Research raised Lululemon Athletica from a “sell” rating to a “hold” rating in a report on Tuesday, November 22nd. Goldman Sachs Group Inc. reaffirmed a “sell” rating and issued a $46.00 target price on shares of Lululemon Athletica in a report on Monday, October 17th. DA Davidson reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Lululemon Athletica in a report on Wednesday, August 31st. Finally, Citigroup Inc. reduced their target price on Lululemon Athletica from $89.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, September 2nd. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $70.01.
Shares of Lululemon Athletica (NASDAQ:LULU) opened at 56.99 on Thursday. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 29.24 and a beta of 0.46. The firm’s 50-day moving average is $56.95 and its 200 day moving average is $67.46. Lululemon Athletica has a 52-week low of $44.62 and a 52-week high of $81.81.
Lululemon Athletica Company Profile
Lululemon Athletica Inc is a designer, distributor and retailer of technical athletic apparel. The Company’s segments include Company-operated stores, Direct to consumer and Other. The Company offers a line of apparel and accessories for women, men and female youth. Its apparel assortment includes items, such as pants, shorts, tops and jackets designed for healthy lifestyle activities and athletic pursuits, such as yoga, running, other sweaty pursuits and athletic wear for female youth.
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