L Brands (LB) : The traders have covered their outstanding shorts in L Brands (LB) to the tune of -138,038 shares, a change of -1.2%. As on Jul 29, 2016, the outstanding shorts on the stock were 11,599,597 shares, however, by August 15, 2016, the shorts had reduced to 11,461,559 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 4.7% of the free float of the stock. It takes 7 days to cover the outstanding short positions. The stock has an average daily volume of 1,761,332 shares. The short interest information was released on Wednesday Aug 24th after the market close.
L Brands (NYSE:LB): The stock opened at $77.66 on Wednesday but the bulls could not build on the opening and the stock topped out at $78.13 for the day. The stock traded down to $77.02 during the day, due to lack of any buying support eventually closed down at $77.27 with a loss of -0.67% for the day. The stock had closed at $77.79 on the previous day. The total traded volume was 1,649,262 shares.
In a related news, Tessler Allan R, director of L Brands, Inc., had purchased 3,500 shares on June 24, 2016. The total value of the transaction was $237,720. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.
L Brands, Inc. operates specialty retail business. The Company is a specialty retailer of womens intimate and other apparel, beauty and personal care products and accessories. It operates in three segments: Victorias Secret, which includes Victorias Secret PINK, which is the specialty retailer of womens intimate and other apparel with fashion-inspired collections, prestige fragrances, celebrated supermodels and world-famous runway shows; Bath & Body Works, which is the specialty retailer of home fragrance and personal care products, including shower gels, lotions, soaps and sanitizers, and Victorias Secret and Bath & Body Works International, which includes the Victorias Secret and Bath & Body Works company-owned and partner-operated stores outside of the United States and Canada. It sells its merchandise through company-owned specialty retail stores in the United States, Canada and the United Kingdom, which are primarily mall-based, and through its Websites and other channels.