Sears Holdings Corp: Esl Partners Makes Purchase

August 10, 2017 - By Adrian Erickson

 Sears Holdings Corp: Esl Partners Makes Purchase

Investors sentiment decreased to 0.89 in Q4 2016. Its down 0.02, from 0.91 in 2016Q3. It turned negative, as 29 investors sold Sears Holdings Corp shares while 32 reduced holdings. 22 funds opened positions while 32 raised stakes. 70.07 million shares or 1.48% less from 71.13 million shares in 2016Q3 were reported.

Ny State Common Retirement Fund has 11,600 shares. Northern Corporation stated it has 196,732 shares or 0% of all its holdings. Pub Employees Retirement Association Of Colorado invested 0% of its portfolio in Sears Holdings Corp (NASDAQ:SHLD). Old West Invest Mngmt Ltd Liability Com owns 557,266 shares or 3.16% of their US portfolio. Tower Research Capital Ltd Liability Com (Trc) has 1,637 shares for 0% of their portfolio. Federated Invsts Pa reported 352 shares. Ubs Asset Americas accumulated 25,968 shares. New Jersey-based Bessemer Group Inc has invested 0% in Sears Holdings Corp (NASDAQ:SHLD). Fincl Bank Of America De, North Carolina-based fund reported 324,857 shares. Invesco Limited invested in 92,431 shares. Price T Rowe Associate Incorporated Md reported 0% of its portfolio in Sears Holdings Corp (NASDAQ:SHLD). Manatuck Hill Prns Limited Liability Corp invested 0.13% in Sears Holdings Corp (NASDAQ:SHLD). Fifth Third Comml Bank holds 6 shares or 0% of its portfolio. Swiss Commercial Bank accumulated 0% or 44,157 shares. Synovus reported 100 shares or 0% of all its holdings.

Since March 10, 2017, it had 5 insider buys, and 0 sales for $15.92 million activity. FAIRHOLME CAPITAL MANAGEMENT LLC also bought $5.02M worth of Sears Holdings Corp (NASDAQ:SHLD) shares. $4.17 million worth of Sears Holdings Corp (NASDAQ:SHLD) was bought by LAMPERT EDWARD S on Wednesday, March 22.

The New Esl Partners Holding in Sears Holdings Corp

Esl Partners reported SC 13D/A form with the SEC for Sears Holdings Corp. Access it here: 000119312517254630. As reported by Esl Partners, the filler owns 56.9% or 63,768,660 shares of the Consumer Discretionary–company.

Sears Holdings Corp stake is new for [reportingPerson]. Date of activity: August9, 2017. This shows Esl Partners’s positive view for Sears Holdings Corp.

Reasons Why Esl Partners Bought – Sears Holdings Corp Stock

Item4. Purpose of Transaction

Item4 is hereby amended and supplemented as follows:

“On August7, 2017, JPP, LLC and JPP II, LLC, as assignors, syndicated an aggregate of $1 million of their portion of the Term Loanto unaffiliated third parties, as assignees. In connection with such syndication of the Term Loan, JPP, LLC, JPP II, LLC, and each of the unaffiliated third parties executed assignment and acceptance agreements, substantially in the form of thoseAssignment and Acceptances filed as Exhibit 99.28 and Exhibit 99.29 to the Amendment to Schedule 13D filed by the Reporting Persons on August26, 2016.

On August9, 2017, JPP, LLC and JPP II, LLC, as assignors, syndicated an aggregate of $140 million of their portion of the LC Facility(the “LC Facility Syndication”) to the same unaffiliated third parties, as assignees, to whom JPP, LLC and JPP II, LLC syndicated a portion of the Term Loan. In connection with such syndication of the LC Facility, JPP, LLC, JPP II, LLC,and each of the unaffiliated third parties executed assignment and acceptance agreements, substantially in the Form of Assignment and Acceptance Agreement filed as Exhibit 99.44 to the Amendment to Schedule 13D filed by the Reporting Persons onAugust3, 2017.

On August9, 2017, Holdings, through the LC Borrowers, entities wholly-owned and controlled, directly orindirectly by Holdings, entered into a third amendment (the “Third Amendment”) to the Letter of Credit and Reimbursement Agreement dated December28, 2016, as previously amended March2, 2017 and August1, 2017 (as amended,including by the Third Amendment, the “Amended LC Facility Agreement”), which provides for the LC Facility from the LC Lenders and other lenders party thereto from time to time, with the Issuing Bank serving as administrative agent andissuing bank.

The Third Amendment was entered into in connection with the LC Facility Syndication and modifies the definition of the“Required Lenders” whose consent is needed for certain amendments and other matters under the Amended LC Facility Agreement and would require any non-consenting lender to assign their commitments under the LC Facility to JPP, LLC, JPP II,LLC or their affiliates, at the option of JPP, LLC, JPP II, LLC and their affiliates. Citigroup Global Markets Inc. is serving as lead arranger and bookrunner for the LC Facility.

The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the ThirdAmendment to Letter of Credit and Reimbursement Agreement filed as Exhibit 99.45 hereto and incorporated by reference herein.”

Sears Holdings Corp Institutional Sentiment

Filings show 147 investors own Sears Holdings Corp. The ownership in Q3 2015 is high, at 65.76 % of the outstanding shares. This is decreased by 9328807. 70536299 were owned by these investors. 22 funds opened new Sears Holdings Corp stakes, 45 increased positions. There were 36 that closed positions and 56 reduced them.

8 investors had the stock in their top 10. Some are: Force Capital Management Llc, Fairholme Capital Management Llc, Rbs Partners L.P., Stonehill Capital Management Llc..

Michael Zimmerman Prentice Capital Management Lp is an investor bullish on Sears Holdings Corp, owning 49801 shares as of Q3 2015 for 4.37% of its portfolio. Old West Investment Management Llc owns 399851 shares or 6.87% of its portfolio. NY Force Capital Management Llc have 9.99% of its portfolio for 2108593 shares. Further, Rbs Partners Lp reported stake worth 32.21% of its portfolio. The FL Fairholme Capital Management Llc owns 26650148 shares. Sears Holdings Corp is 17.35% of its portfolio.

Business 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. The Company is the home appliance retailer, as well as offers tools, lawn and garden, fitness equipment, automotive repair and maintenance. Its brands include Kenmore, Craftsman and DieHard. It also maintains a range of apparel and home offering, including labels, such as Jaclyn Smith, Joe Boxer, Route 66, Cannon, Ty Pennington Style and Levi’s and also offers Lands’ End merchandise in some of its Full-line stores. As of January 28, 2017, it is also a provider of home services, with over four million service and installation calls made annually. As of January 28, 2017, it operated a network of stores with 1,430 full-line and specialty retail stores.

SEC Form 13D.

About 1.07 million shares traded. Sears Holdings Corp (NASDAQ:SHLD) has declined 29.81% since August 11, 2016 and is downtrending. It has underperformed by 46.51% the S&P500.

Sears Holdings Corporation is an integrated retailer. The company has market cap of $938.57 million. The Firm is the parent firm of Kmart Holding Corporation and Sears, Roebuck and Co. (Sears). It currently has negative earnings. The Company’s divisions are Kmart and Sears Domestic.

Sears Holdings Corp (NASDAQ:SHLD) Ratings Coverage

Among 2 analysts covering Sears Canada (NASDAQ:SHLD), 0 have Buy rating, 1 Sell and 1 Hold. Therefore 0 are positive. Sears Canada has $11 highest and $4 lowest target. $7.50’s average target is -14.38% below currents $8.76 stock price. Sears Canada had 2 analyst reports since September 3, 2015 according to SRatingsIntel. The stock of Sears Holdings Corp (NASDAQ:SHLD) has “Negative” rating given on Friday, February 10 by Susquehanna. IBC maintained it with “Sector Perform” rating and $11 target in Thursday, September 3 report.

More notable recent Sears Holdings Corp (NASDAQ:SHLD) news were published by: Investorplace.com which released: “Dying Sears Holdings Corp (SHLD) Stock Falls on More Store Closings” on July 13, 2017, also Reuters.com with their article: “BRIEF-Sears Holdings Corp ‍announces launch of kenmore products on Amazon.Com​” published on July 20, 2017, Seekingalpha.com published: “Sears Holdings And ESL Investments: Berkshire Hathaway In Broad Daylight” on August 03, 2017. More interesting news about Sears Holdings Corp (NASDAQ:SHLD) were released by: Investorplace.com and their article: “Sears Holdings Corp (SHLD) Stock Awaits How Canada Unit Bankruptcy Plays Out” published on July 30, 2017 as well as Fool.com‘s news article titled: “Why Sears Holding Corp. Stock Popped Today” with publication date: July 17, 2017.

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