Sears (SHLD) Trading Down 6.6%

Sears Holdings Corp (NASDAQ:SHLD)’s share price was down 6.6% on Monday . The company traded as low as $2.23 and last traded at $2.26. Approximately 1,930,162 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 2,121,803 shares. The stock had previously closed at $2.42.

A number of research firms recently issued reports on SHLD. BidaskClub upgraded shares of Sears from a “sell” rating to a “hold” rating in a report on Tuesday, April 10th. S&P Equity Research lowered their target price on shares of Sears from $2.59 to $2.30 in a report on Tuesday, March 27th. ValuEngine upgraded shares of Sears from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Susquehanna Bancshares restated a “negative” rating and issued a $4.00 target price on shares of Sears in a report on Thursday, June 7th.

The company has a debt-to-equity ratio of -0.74, a current ratio of 0.80 and a quick ratio of 0.23.

Sears (NASDAQ:SHLD) last released its earnings results on Thursday, May 31st. The company reported ($3.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.51) by ($2.42). The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same period last year, the firm posted ($2.15) EPS. The business’s revenue for the quarter was down 31.2% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Federated Investors Inc. PA grew its stake in Sears by 18,855.3% during the first quarter. Federated Investors Inc. PA now owns 37,342 shares of the company’s stock worth $100,000 after buying an additional 37,145 shares during the period. Deutsche Bank AG boosted its stake in shares of Sears by 206.7% in the fourth quarter. Deutsche Bank AG now owns 130,986 shares of the company’s stock valued at $467,000 after purchasing an additional 88,279 shares during the period. Fine Capital Partners L.P. boosted its stake in shares of Sears by 7.2% in the fourth quarter. Fine Capital Partners L.P. now owns 2,876,895 shares of the company’s stock valued at $10,299,000 after purchasing an additional 193,822 shares during the period. KBC Group NV purchased a new position in shares of Sears in the first quarter valued at $933,000. Finally, Saba Capital Management L.P. boosted its stake in shares of Sears by 48.8% in the first quarter. Saba Capital Management L.P. now owns 1,179,665 shares of the company’s stock valued at $3,150,000 after purchasing an additional 387,125 shares during the period. Institutional investors own 54.51% of the company’s stock.

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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