Sears Holdings (NASDAQ:SHLD) rose 6.4% during trading on Thursday . The stock traded as high as $3.45 and last traded at $3.51. Approximately 1,223,375 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 2,013,111 shares. The stock had previously closed at $3.30.
SHLD has been the subject of several research reports. S&P Equity Research lowered their target price on Sears from $2.59 to $2.30 in a research note on Tuesday, March 27th. BidaskClub raised Sears from a “sell” rating to a “hold” rating in a research note on Tuesday. Susquehanna Bancshares lowered their target price on Sears from $3.00 to $2.50 and set a “negative” rating for the company in a research note on Thursday, January 11th. Finally, ValuEngine raised Sears from a “strong sell” rating to a “sell” rating in a research note on Friday, February 2nd. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. The stock currently has a consensus rating of “Sell” and a consensus target price of $3.95.
The company has a debt-to-equity ratio of -0.60, a current ratio of 0.78 and a quick ratio of 0.21.
In other news, major shareholder Bruce R. Berkowitz sold 350,700 shares of Sears stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $2.86, for a total value of $1,003,002.00. Following the completion of the sale, the insider now directly owns 799,516 shares of the company’s stock, valued at approximately $2,286,615.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 56.80% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Fine Capital Partners L.P. grew its stake in shares of Sears by 7.2% during the fourth quarter. Fine Capital Partners L.P. now owns 2,876,895 shares of the company’s stock worth $10,299,000 after purchasing an additional 193,822 shares during the period. Cyrus Capital Partners L.P. acquired a new stake in shares of Sears during the fourth quarter worth $2,764,000. California Public Employees Retirement System grew its stake in shares of Sears by 4.8% during the third quarter. California Public Employees Retirement System now owns 451,827 shares of the company’s stock worth $3,298,000 after purchasing an additional 20,879 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Sears during the third quarter worth $1,541,000. Finally, Deutsche Bank AG grew its stake in shares of Sears by 206.7% during the fourth quarter. Deutsche Bank AG now owns 130,986 shares of the company’s stock worth $467,000 after purchasing an additional 88,279 shares during the period. 57.99% of the stock is owned by institutional investors and hedge funds.
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Sears Company Profile
Sears Holdings Corporation operates as an integrated retailer in the United States. It operates in two segments, Kmart and Sears Domestic. The Kmart segment operates retail stores that offer a range of products, including consumer electronics, seasonal merchandise, outdoor living, toys, lawn and garden equipment, food and consumables, and apparel; and in-store pharmacies.
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