Lululemon Athletica inc. (NASDAQ:LULU) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 4,613,366 shares, a growth of 28.6% from the February 15th total of 3,587,243 shares. Approximately 4.7% of the company’s shares are sold short. Based on an average daily trading volume, of 1,420,697 shares, the short-interest ratio is currently 3.2 days.
In other Lululemon Athletica news, major shareholder Dennis J. Wilson sold 722,134 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $77.47, for a total value of $55,943,720.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.29% of the company’s stock.
Several institutional investors have recently modified their holdings of LULU. Victory Capital Management Inc. raised its stake in shares of Lululemon Athletica by 5.3% in the third quarter. Victory Capital Management Inc. now owns 299,647 shares of the apparel retailer’s stock worth $18,653,000 after purchasing an additional 15,056 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Lululemon Athletica by 304.3% in the third quarter. Canada Pension Plan Investment Board now owns 82,510 shares of the apparel retailer’s stock worth $5,136,000 after purchasing an additional 62,100 shares during the last quarter. Stevens Capital Management LP purchased a new stake in shares of Lululemon Athletica in the third quarter worth approximately $1,034,000. Prudential Financial Inc. raised its stake in shares of Lululemon Athletica by 734.3% in the third quarter. Prudential Financial Inc. now owns 392,118 shares of the apparel retailer’s stock worth $24,410,000 after purchasing an additional 345,120 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Lululemon Athletica by 7.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 15,390 shares of the apparel retailer’s stock worth $958,000 after purchasing an additional 1,075 shares during the last quarter. 80.18% of the stock is owned by hedge funds and other institutional investors.
Shares of Lululemon Athletica (NASDAQ:LULU) opened at $80.33 on Tuesday. The company has a market capitalization of $10,880.00, a P/E ratio of 39.97, a PEG ratio of 2.08 and a beta of 0.22. Lululemon Athletica has a 52 week low of $47.26 and a 52 week high of $83.98.
Lululemon Athletica announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the apparel retailer to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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Lululemon Athletica Company Profile
lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.
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