Michael Kors Holdings Limited (NYSE:KORS) has seen a rise of 659,482 shares or 2.9% in the short interest. The remaining shorts are 13.4% of the total floated shares. The net short interest, as on June 15,2016, stood at 23,066,874 shares and the stocks days to cover will be 4 by factoring in the average per day volume of 6,407,848 shares. On May 31,2016, 22,407,392 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Michael Kors Holdings Limited (NYSE:KORS): The stock opened at $48.40 on Friday but the bulls could not build on the opening and the stock topped out at $49.20 for the day. The stock traded down to $47.50 during the day, due to lack of any buying support eventually closed down at $47.61 with a loss of -6.32% for the day. The stock had closed at $50.82 on the previous day. The total traded volume was 5,684,505 shares.
The company shares have rallied 9.78% from its 1 Year high price. On Mar 14, 2016, the shares registered one year high at $59.49 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $46.56 and the 200 Day Moving Average price is recorded at $48.24.
Michael Kors Holdings Limited (NYSE:KORS) has tumbled 4.72% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 13.93% in the last four weeks. The stocks have underperformed the S&P 500 by 3.14% during the past week but Michael Kors Holdings Limited (NYSE:KORS) it has outperformed the index in 4 weeks by 17.37%.
Michael Kors Holdings Limited is a global accessories, footwear and apparel company. The Company operates its business in three segments: retail, wholesale and licensing. It offers two primary collections: the Michael Kors luxury collection and the MICHAEL Michael Kors accessible luxury collection. In the Michael Kors collection, it offers accessories, including handbags and small leather goods, many of which are made from leathers and other exotic skins, footwear and apparel, including ready-to-wear women swear and menswear. Its MICHAEL Michael Kors collection offers accessories, primarily handbags and small leather goods, such as clutches, wallets, wristlets and cosmetic cases; footwear, primarily in womens styles; and women swear, including dresses, tops, jeans, pants, skirts, shorts and outerwear. Through its licensing segment, it enters into agreements that license to third parties use of its brand name and trademarks, certain production, and sales and distribution rights.