Shares of Michael Kors Holdings Limited (KORS) Sees Large Outflow of Money

Michael Kors Holdings Limited (KORS) : Wednesdays money flow analysis of Michael Kors Holdings Limited (KORS) indicates the selling of stock on the strength of price. The investors sold the stock on every rise as seen in the downtick transactions of $1.07 million. In comparison, the inflow of money on upticks was a meager $0.43 million. The dollar value of composite uptick trades minus the downtick trades was negative $0.64 million. The uptick to downtick ratio of 0.4 in the money flow shows weakness. The downtick transaction value was high at $0.78 million, which denotes distribution on strength.. Hence, the net money flow in the stock was negative ($0.78 million). Michael Kors Holdings Limited (KORS) gained $0.04 at $51.23, a change of 0.08% over the previous days close.


Also, Equity Analysts at the Piper Jaffray upgrades the rating on Michael Kors Holdings Limited (NYSE:KORS). The brokerage firm has issued a Overweight rating on the shares. The shares were previously rated Neutral. The rating by the firm was issued on April 27, 2016.

Michael Kors Holdings Limited (NYSE:KORS): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $51.16 and $50.89 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $51.67. The buying momentum continued till the end and the stock did not give up its gains. It closed at $51.59, notching a gain of 0.78% for the day. The total traded volume was 1,470,269 . The stock had closed at $51.19 on the previous day.

The stock has recorded a 20-day Moving Average of 3.22% and the 50-Day Moving Average is 8.45%. In a related news, The Securities and Exchange Commission has divulged that Robinson Cathy Marie, officer (SVP, Corp Str & Ch Ops Off) of Michael Kors Holdings Ltd, had unloaded 759 shares at an average price of $49.89 in a transaction dated on June 17, 2016. The total value of the transaction was worth $37,867.

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.

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