Lear Corporation (LEA) : Traders are getting increasingly bearish on Lear Corporation (LEA), as can be seen in the addition of short positions from 3,602,461 on Jul 29, 2016, to 3,965,059 on August 15, 2016. The net change in shorts is 362,598 shares, an increase of 10.1%. 4 days remain before the expiry. The 5.6% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 921,881. The short interest information was released on Wednesday Aug 24th after the market close.
Lear Corporation (NYSE:LEA): The stock opened at $115.67 on Wednesday but the bulls could not build on the opening and the stock topped out at $116.72 for the day. The stock traded down to $115.29 during the day, due to lack of any buying support eventually closed down at $115.70 with a loss of -0.09% for the day. The stock had closed at $115.80 on the previous day. The total traded volume was 528,527 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the Director of LEAR CORP, Mallett Conrad L Jr had sold 100 shares worth of $10,099 in a transaction dated June 28, 2016. In this transaction, 100 shares were sold at $100.99 per share.
Lear Corporation is engaged in providing automotive seat systems and individual seat component parts. The Company has two segments: seating and electrical. The Company seating segment consists of the design, development, engineering, assembly and delivery of complete seat systems. The Company is also involved in the design, development, engineering and manufacture of all seat components, including seat structures and mechanisms, seat covers and surface materials, such as fabric and leather, seat foam and headrests. The Companys electrical segment consists of the design, development, engineering, manufacture, assembly and supply of electrical distribution systems and components for light vehicles. The Company has manufacturing, engineering and administrative capabilities in about 34 countries with 219 locations. The Company also manufactures junction boxes and electronic control modules, which are connected to the wire harness assemblies.