Clearline Capital LP Invests $4.83 Million in Lululemon Athletica Inc. (NASDAQ:LULU)

Clearline Capital LP purchased a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,782 shares of the apparel retailer’s stock, valued at approximately $4,825,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LULU. Benjamin Edwards Inc. raised its position in shares of Lululemon Athletica by 4,786.3% in the third quarter. Benjamin Edwards Inc. now owns 4,642 shares of the apparel retailer’s stock valued at $1,260,000 after buying an additional 4,547 shares during the last quarter. Erste Asset Management GmbH acquired a new position in Lululemon Athletica during the third quarter worth $5,745,000. Maverick Capital Ltd. purchased a new stake in Lululemon Athletica in the 3rd quarter valued at $93,476,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Lululemon Athletica by 60.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 546,162 shares of the apparel retailer’s stock worth $148,201,000 after acquiring an additional 205,757 shares during the period. Finally, Southpoint Capital Advisors LP acquired a new position in shares of Lululemon Athletica during the 3rd quarter valued at about $81,405,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of Lululemon Athletica in a report on Monday, August 26th. Oppenheimer lowered their price objective on Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Guggenheim reduced their target price on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. TD Cowen lowered their price target on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Finally, Barclays reduced their price objective on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $356.03.

Insider Transactions at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the transaction, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. This represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Calvin Mcdonald bought 4,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This represents a 4.66 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.48% of the company’s stock.

Lululemon Athletica Trading Up 0.4 %

Shares of LULU opened at $320.66 on Monday. The firm has a market capitalization of $39.37 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 2.33 and a beta of 1.24. The firm’s fifty day simple moving average is $297.19 and its 200-day simple moving average is $287.01. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. Lululemon Athletica’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $2.68 earnings per share. On average, analysts predict that Lululemon Athletica Inc. will post 14.01 earnings per share for the current fiscal year.

About Lululemon Athletica

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.