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Sears’ Major Shareholder Buys 7,200 Company Shares

08 Oct

Sears' Major Shareholder Buys 7,200 Company Shares

The stock of the retail company is expected to fall down by 11.05 in near term, as per analysts’ belief

Sears Holdings was recently covered by analysts at equity firm Vetr, following which the retail giant ended up receiving a ‘sell’ ratings from the close up analysis that was carried out by them. This information was given by the financial firm in a report which was addressed to the investors in the company. Previously, the same analysts had given the stock of the manufacturers a ‘sell’ rating but accordingly to Analysts Rating Net, the ratings have been made better along with a price target of $22.06 which was also recently presented to Sears stock. The price target, however, which has been provided to the company shows that in the near future the value of the shares is expected to fall by around 11.05 percent, given how the shares are trading at a price of $24.80 in the present time.

On the other hand, Sears retail company also observed some important trade activities within the firm itself, in which one of its most important and influential shareholders was seen to buy a massive 7,200 shares of the retail giant, in a transaction that was made two days before the market closed for the week, dated September 30. The details of this trade of shares was reported to the Securities Exchange Commission presented by the shareholder named Bruce R. Berkowitz, as all the shareholders who own more than 10 percent of the company shares are bound to report to the SEC of any kind of activity that they undergo on the index. Berkowitz sold the shares in a price tag of $163,008 with each of the shares priced at $22.64. Following the important trade, it was seen that the shareholder’s stake in the firm was increased by a big difference bringing the total number of shares owned by him to 71,700. The value of the shares that Berkowitz holds in possession is of a colossal worth of $1,623,288.

On the other hand, Sears stock news shows that the ratings that have been received by the S&P 500 towards the stock activities of the company have come around to a ‘strong sell’ guidance given by the analysts of the agency, in which the stock was given a price tag of $30 for the long term. The last earnings report published by the retail manufacturers was made on August 20, in which the EPS that the company reported came around $2.40, missing the estimate of $2.50 by $0.10 made by analysts at Thomson Reuters.

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Posted by on October 8, 2015 in Finance News

 

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