Voloridge Investment Management buys $21,354,599 stake in Lululemon Athletica (LULU)

Lululemon Athletica (LULU) : Voloridge Investment Management scooped up 111,917 additional shares in Lululemon Athletica during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 269,153 shares of Lululemon Athletica which is valued at $21,354,599.Lululemon Athletica makes up approximately 0.59% of Voloridge Investment Management’s portfolio.

Other Hedge Funds, Including , Fred Alger Management Inc reduced its stake in LULU by selling 64,012 shares or 88.52% in the most recent quarter. The Hedge Fund company now holds 8,300 shares of LULU which is valued at $658,522. Alpine Partners Vi sold out all of its stake in LULU during the most recent quarter. The investment firm sold 4,562 shares of LULU which is valued $361,949.Highpoint Advisor Group reduced its stake in LULU by selling 831 shares or 6.92% in the most recent quarter. The Hedge Fund company now holds 11,176 shares of LULU which is valued at $886,704. Lululemon Athletica makes up approx 0.31% of Highpoint Advisor Group’s portfolio.

Lululemon Athletica opened for trading at $75.89 and hit $77.58 on the upside on Thursday, eventually ending the session at $76.66, with a gain of 0.20% or 0.15 points. The heightened volatility saw the trading volume jump to 55,00,087 shares. Company has a market cap of $9,750 M.

On the company’s financial health, Lululemon Athletica reported $0.38 EPS for the quarter, based on the information available during the earnings call on Sep 1, 2016. Analyst had a consensus estimate of $0.38. The company had revenue of $514.52 million for the quarter, compared to analysts expectations of $515.78 million. The company’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

Many Wall Street Analysts have commented on Lululemon Athletica. Shares were Reiterated by Canaccord Genuity on Sep 2, 2016 to “Hold” and Lowered the Price Target to $ 65 from a previous price target of $70 .Lululemon Athletica was Downgraded by Morgan Stanley to ” Equal-Weight” on Sep 2, 2016. Company shares were Reiterated by Telsey Advisory Group on Aug 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 92 from a previous price target of $82 .

lululemon athletica inc. is a designer and retailer of technical athletic apparel. The Company offers a line of apparel and accessories for women men and female youth. Its apparel assortment includes items such as pants shorts tops and jackets designed for healthy lifestyle activities and athletic pursuits such as yoga running general fitness and dance-inspired apparel for female youth. The Company conducts its business through two channels: corporate-owned stores and direct to consumer. The Company markets its athletic apparel under the lululemon athletica and ivivva athletica brand names. As of February 1 2015 the Company’s retail footprint included 211 stores in the United States 57 stores in Canada 26 stores in Australia five in New Zealand two in the United Kingdom and one in Singapore. The Company’s retail stores are located primarily on street locations in lifestyle centers and in malls.

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