Michael Kors Holdings Limited (KORS) has been under a strong bear grip, hence the stock is down -0.99% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.29% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.81% in the last 1 week, and is up 3.34% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 3.92% and the 50-Day Moving Average is 8.67%.
Michael Kors Holdings Limited (NYSE:KORS): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $51.84 and $51.37 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $51.85. The buying momentum continued till the end and the stock did not give up its gains. It closed at $51.64, notching a gain of 0.14% for the day. The total traded volume was 1,226,768 . The stock had closed at $51.57 on the previous day.
The company Insiders own 5% of Michael Kors Holdings Limited shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -42.23% . Institutional Investors own 82.85% of Michael Kors Holdings Limited shares. During last six month period, the net percent change held by insiders has seen a change of -42.23%. 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.