Ellison buys 10,000 shares on March 6, 2020

https://www.barrons.com/articles/lowes-ceo-marvin-ellison-buys-stock-51583855533

Lowe’s CEO Marvin Ellison Bought More of the Retailer’s Beaten-Down Stock
By Ed Lin
March 11, 2020 8:00 am ET

Lowe’s stock has crumbled in the face of market volatility.
Lowe’s stock has crumbled as the market melted down, but President and CEO Marvin R. Ellison recently bought shares of the home-improvement chain.

Lowe’s stock (ticker: LOW) has tumbled 13.1% so far this year through Tuesday’s close, compared with a 10.8%s drop in the S&P 500 index, a measure of the broader stock market. Lowe’s stock had surged 29.7% in 2019, edging out the index’s 28.9% rise. Shares even topped the 27.1% gain in Home Depot stock (HD) last year.

Not even three weeks ago, on Feb. 20, Lowe’s stock set a record intraday high of $126.73. But roughly a week later, Lowe’s reported a mixed fourth-quarter report, on Feb. 26.

“[C]omps came in lower, and growth seemed to underperform the market,” noted Credit Suisse analyst Seth Sigman in a research report the day after the report. “Issues seemed to be internal and external.”

Sigman lowered his price target on Lowe’s stock to $131 from $135, but the Outperform rating stood. The analyst wrote that “the stock’s discount embeds plenty of skepticism.” Shares were trading at $118 and change at the time.

The stock fell as the market digested developing news about the coronavirus outbreak. Ellison paid $1 million on March 6 for 10,000 Lowe’s shares, an average per-share price of $103.86. He now owns 90,090 shares in a personal account, according to a form he filed with the Securities and Exchange Commission.

Lowe’s didn’t respond to a request to make Ellison available for comment.

Ellison has bought stock in the wake of stock swoons before, including his last Lowe’s stock purchase in June. He also bought following declines in the stock of the previous company he led, J.C. Penney (JCP).

Lowe’s stock outperformed Home Depot stock last year, but the latter is bearing the market turmoil better. Home Depot stock is up 3.4% year to date.

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14 replies (most recent on top)

The price of the stock is $71.00 a share as of today. Down 50 dollars from it's high a couple of weeks ago. Good luck selling your stock Marvin. I am glad I pulled my 401k out of Lowe's reach also.

Responding to: Hate the man or love him, it is your choice. But smart money says to buy stocks now, This is a temporary thing, long term, (6 months to a year, the stock is going to increase to its former highs or higher) Will be catch up with Home Despot. no in my opinion. But Ackman, Shaw and the kats and jammer kids at the ivory tower, will ride into the sunset very rich, and leave LOWES a rotting hulk.

We have seen this before and more than once....I agree. It speaks volumes of his intentions and integrity when he limited employees to 25% investment in Lowes stock. He has now purchased stock for himself TWICE! Someone needs to restructure his butt out of this position as he has so many others.

That's to bad he should have waited a few days.

Isn't that insider trading?

Hate the man or love him, it is your choice. But smart money says to buy stocks now, This is a temporary thing, long term, (6 months to a year, the stock is going to increase to its former highs or higher) Will be catch up with Home Despot. no in my opinion. But Ackman, Shaw and the kats and jammer kids at the ivory tower, will ride into the sunset very rich, and leave LOWES a rotting hulk

To put that in perspective Marvin has lost $154,000 dollars. No wonder Marvin gets a thousand dollars a month to pay for financial planning.

His financial planner must be like “Marvster, baby would I lie to you? Put your money in that place you used to work at where they wear orange.”

Sad news for Marvin his shares have gone down another $15 per share
You can tell what a good businessman he is

Maybe after this whole thing crashes and the dust settles, Marvelous can get a job with the third party scrubbing toilets. Nah, he'd screw that up too.

Smart move from an investment standpoint. Always buy stock when there’s blood in the street.

In response to : "Credit analyst Seth Sigman.... "issues seemed to be internal and external" ..brilliant, hire him Marv. God bless..."

The Internal Issue is Marv!

As far as only being able to purchase 25% in stock, switch to the other option you have of buying at stock at 15% discount. Invest 100% in that!

Credit analyst Seth Sigman.... "issues seemed to be internal and external" ..brilliant, hire him Marv.
God bless...

yet we are limited to only 25% buying share.

I hope he bought at its pinnacle and ends up dumping it for pennies on the dollar.

Thread regarding Lowe's Cos. layoffs

Ellison buys 10,000 shares on March 6, 2020

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