The Sears Holdings Corporation (SHLD) Bonds Drop 2.1% During Trading

The Sears Holdings Corporation (SHLD) Bonds Drop 2.1% During Trading

An issue of Sears Holdings Corporation (NASDAQ:SHLD) debt fell 2.1% against its face value during trading on Wednesday. The high-yield debt issue has a 8% coupon and will mature on December 15, 2019. The bonds in the issue are now trading at $60.94 and were trading at $75.00 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.

SHLD has been the subject of a number of recent research reports. ValuEngine downgraded shares of Sears Holdings Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 6th. BidaskClub upgraded shares of Sears Holdings Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th.

Shares of Sears Holdings Corporation (SHLD) traded down 3.84% during trading on Wednesday, reaching $5.76. 1,097,464 shares of the company’s stock were exchanged. Sears Holdings Corporation has a 12-month low of $5.48 and a 12-month high of $14.32. The stock has a 50-day moving average price of $6.98 and a 200 day moving average price of $8.39. The company’s market capitalization is $618.88 million.

Sears Holdings Corporation (NASDAQ:SHLD) last announced its quarterly earnings data on Thursday, August 24th. The company reported ($1.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.48) by $1.32. The company had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.21 billion. The business’s quarterly revenue was down 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.24) EPS. Equities analysts expect that Sears Holdings Corporation will post ($9.21) EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of SHLD. Vanguard Group Inc. raised its position in shares of Sears Holdings Corporation by 19.3% during the 1st quarter. Vanguard Group Inc. now owns 2,410,353 shares of the company’s stock worth $27,695,000 after acquiring an additional 389,988 shares in the last quarter. Morgan Stanley raised its position in shares of Sears Holdings Corporation by 85.1% during the 1st quarter. Morgan Stanley now owns 336,684 shares of the company’s stock worth $3,869,000 after acquiring an additional 154,831 shares in the last quarter. Balyasny Asset Management LLC raised its position in shares of Sears Holdings Corporation by 57.3% during the 2nd quarter. Balyasny Asset Management LLC now owns 412,000 shares of the company’s stock worth $3,650,000 after acquiring an additional 150,000 shares in the last quarter. Credit Suisse AG raised its position in shares of Sears Holdings Corporation by 226.8% during the 1st quarter. Credit Suisse AG now owns 194,272 shares of the company’s stock worth $2,232,000 after acquiring an additional 134,822 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Sears Holdings Corporation by 29.3% during the 1st quarter. California Public Employees Retirement System now owns 515,048 shares of the company’s stock worth $5,918,000 after acquiring an additional 116,800 shares in the last quarter. 62.08% of the stock is currently owned by institutional investors and hedge funds.

Sears Holdings Corporation Company Profile

Sears Holdings Corporation is an integrated retailer. The Company is the parent company of Kmart Holding Corporation (Kmart) and Sears, Roebuck and Co (Sears). The Company’s segments are Kmart and Sears Domestic. It also offers Shop Your Way, a member-based social shopping platform that offers rewards and personalized services.

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