Other hedge funds also recently bought and sold shares of the company.
06/09/2015 - Sears Holdings Corporation was upgraded to "hold" by analysts at S&P Capital IQ.
The company has 140,000 employees. Finally, Capstone Investment Advisors LLC bought a new stake in Sears Holdings Corp during the fourth quarter valued at about $117,000.
He said landlords no longer see big-box category-killer superstores as hugely attractive alternatives to Target or Sears, because consumers can now find the widest array of product offerings online at Amazon.com Inc. or other e-commerce destinations. The 52-week high of the share price is $19.1172 and the company has a market cap of $969 million. The firm has a 50-day moving average of $7.52 and a 200 day moving average of $10.28.
Sears' warning that it was uncertain it would still be in business a year from now sent its stock price plunging Wednesday, and offered a grim reminder of how far the iconic department store chain has fallen. He said he noticed a warning sign past year when Sears pushed to increase its purchases, which occurred "because a lot of their current suppliers were either cutting them off or limited them on credit". The consensus recommendation by Thomson Reuters analysts is Outperform and their mean rating for the stock is 2.14 on scale of 1-5. It has $4.2 billion in debt, up from $3 billion a year ago.
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"We believe the actions outlined today will ensure that Sears Holdings becomes a more agile and competitive retailer with a clear path toward profitability", Edward S. Lampert, the company's chief executive, said in February. The business's revenue for the quarter was down 17.1% compared to the same quarter past year.
Sears Holdings Corp. suffered its worst stock decline in six weeks after acknowledging "substantial doubt" about its future, raising fresh concerns about the survival of a company that was once the world's largest retailer.
During that time, Sears cut the number of its US stores by almost a third, reduced holdings in Sears Canada, and spun off the Lands' End clothing chain. The shares were acquired at an average cost of $8.67 per share, with a total value of $2,444,073.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Sears Holdings Corporation (NASDAQ:SHLD) shares tanked -0.87% to $9.10 on Tuesday.
There are 11 Sears and Kmart stores in the immediate area.
Lampert combined Sears and Kmart in 2005, about two years after he helped bring Kmart out of bankruptcy. It operates approximately 940 Kmart stores across over 50 states, Guam, Puerto Rico and the United States Virgin Islands.