Esl Partners increased Its Sears Holdings Corp Stake

March 23, 2018 - By Stephen Andrade

 Esl Partners increased Its Sears Holdings Corp Stake

Investors sentiment increased to 0.72 in Q3 2017. Its up 0.20, from 0.52 in 2017Q2. It improved, as 20 investors sold Sears Holdings Corporation shares while 30 reduced holdings. 18 funds opened positions while 18 raised stakes. 64.05 million shares or 3.85% less from 66.61 million shares in 2017Q2 were reported.

Rhumbline Advisers invested 0% of its portfolio in Sears Holdings Corporation (NASDAQ:SHLD). Fairholme Cap Mgmt Limited Com has 28.51 million shares. Chou Mngmt holds 1.13M shares. Manatuck Hill Partners Limited Company reported 0.1% of its portfolio in Sears Holdings Corporation (NASDAQ:SHLD). Northern Trust reported 196,820 shares. National Bank & Trust Of New York Mellon owns 98,984 shares. Susquehanna Group Incorporated Llp holds 0% or 801,701 shares in its portfolio. Paloma Prns Management invested in 0% or 23,051 shares. Moreover, New York State Common Retirement Fund has 0% invested in Sears Holdings Corporation (NASDAQ:SHLD) for 11,600 shares. The Pennsylvania-based Federated Invsts Pa has invested 0% in Sears Holdings Corporation (NASDAQ:SHLD). Ameritas Inv Prns has 0% invested in Sears Holdings Corporation (NASDAQ:SHLD). Royal Bancorporation Of Canada owns 101,518 shares. Swiss Natl Bank owns 0% invested in Sears Holdings Corporation (NASDAQ:SHLD) for 44,157 shares. Prelude Cap Mngmt Ltd has invested 0% in Sears Holdings Corporation (NASDAQ:SHLD). Bank Of America Corporation De reported 319,600 shares.

Since January 8, 2018, it had 0 insider buys, and 3 sales for $13.55 million activity.

Esl Partners Reported increased Stake in Sears Holdings Corp

Esl Partners filed with SEC a SC 13D/A form for Sears Holdings Corp. It can be found at: 000119312518094368. As reported by Esl Partners, the filler increased its stake in the stock by 57.39 % for 150,748,629 shares. Esl Partners currently owns 73.3% of the Consumer Discretionary- stock. Date of activity: March20, 2018.

Reasons Why Esl Partners Holds Sears Holdings Corp

Item4. Purpose of Transaction

Item 4 is hereby amended and supplemented as follows:

“The description of the Mezzanine Loan in the Schedule 13D, as amended, does not purport to be complete and is qualified in its entiretyby reference to the Mezzanine Loan Agreement, filed as Exhibit 99.59 hereto and incorporated by reference herein.

In connection with thecompletion of the Exchange Offers, certain of the Reporting Persons also consented to the adoption of amendments to the indenture governing the 2018 Notes to eliminate substantially all of the restrictive covenants and certain events of default insuch indenture, and make the liens securing senior second lien obligations, including the newly issued Senior Secured Convertible PIK Toggle Notes and obligations under the second lien credit agreement described below, effectively senior to theliens securing junior second lien obligations, including the 2018 Notes.

On March21, 2018, Holdings, through the Borrowers, enteredinto a fifth amendment (the “Fifth Amendment”) and a sixth amendment (the “Sixth Amendment”) to the Credit Agreement, pursuant to which the Borrowers borrowed a $125million“first-in, last-out” term loan (the “FILO Loan”) from various initial lenders, which include, among others, JPP and JPP II (collectively, the“FILO Initial Lenders”), and made certain other changes to the Credit Agreement.

The FILO Loan matures on July20, 2020.The FILO Loan bears interest at a rate per annum equal to the Eurodollar Rate plus a margin of 8.50% (subject to a floor of 1.50%) (or a base rate plus a margin of 7.50%). The Borrowers are required to pay an early repayment premium of the greaterof a make-whole through eight months and 3.00% in the event the FILO Loan is repaid within the first year, and 2.00% in the event the FILO Loan is repaid within the second year. The FILO Loan is guaranteed by the same guarantors and secured by thesame assets as the existing loans under the Credit Agreement, but ranks junior in right of recovery from the collateral relative to such existing loans. Holdings paid a fee of 2.25% of the FILO Loan to the FILO Initial Lenders.

The foregoing description of the FILO Loan does not purport to be complete and is qualified in its entirety by reference to both the FifthAmendment, filed as Exhibit 99.60 hereto and incorporated by reference herein, and the Sixth Amendment, filed as Exhibit 99.61 hereto and incorporated by reference herein.

The information set forth in Item 3 of this Amendment is incorporated by reference into this Item 4.”

Item5. Interest in Securities of the Issuer.

Sears Holdings Corp Institutional Sentiment

Filings show 94 investors own Sears Holdings Corp. The ownership in Q3 2017 is high, at Infinity of the outstanding shares. This is increased by 2543534. 64047251 were owned by these investors. 18 funds opened new Sears Holdings Corp stakes, 18 increased positions. There were 20 that closed positions and 30 reduced them.

3 investors had the stock in their top 10. Some are: Fairholme Capital Management Llc, Rbs Partners L.P., Old West Investment Management Llc..

Debra Fine Fine Capital Partners Lp is an investor bullish on Sears Holdings Corp, owning 2683073 shares as of Q3 2017 for 2.05% of its portfolio. Francis Chou Chou Associates Management Inc owns 1131610 shares or 2.89% of its portfolio. FL Rbs Partners Lp have 29.26% of its portfolio for 20535979 shares. Further, Old West Investment Management Llc reported stake worth 1.66% of its portfolio. The FL Fairholme Capital Management Llc owns 28508998 shares. Sears Holdings Corp is 22.95% of its portfolio.

SEC Form 13D.

The stock decreased 5.22% or $0.12 during the last trading session, reaching $2.18. About 1.08 million shares traded. Sears Holdings Corporation (NASDAQ:SHLD) has declined 29.81% since March 23, 2017 and is downtrending. It has underperformed by 46.51% the S&P500.

Sears Holdings Corporation operates as an integrated retailer in the United States. The company has market cap of $235.00 million. It operates in two divisions, Kmart and Sears Domestic. It currently has negative earnings. The Kmart segment operates retail stores that offer a range of products, including consumer electronics, seasonal merchandise, outdoor living, toys, lawn and garden equipment, food and consumables, and apparel; and in-store pharmacies.

Sears Holdings Corporation (NASDAQ:SHLD) Ratings Coverage

Among 3 analysts covering Sears Canada (NASDAQ:SHLD), 0 have Buy rating, 2 Sell and 1 Hold. Therefore 0 are positive. Sears Canada has $11 highest and $2.0 lowest target. $6.50’s average target is 198.17% above currents $2.18 stock price. Sears Canada had 6 analyst reports since September 3, 2015 according to SRatingsIntel. The company was maintained on Friday, December 1 by Susquehanna. The firm earned “Negative” rating on Friday, February 10 by Susquehanna. IBC maintained it with “Sector Perform” rating and $11 target in Thursday, September 3 report. The stock of Sears Holdings Corporation (NASDAQ:SHLD) earned “Sell” rating by Susquehanna on Friday, February 16. The firm has “Sell” rating given on Wednesday, January 10 by Susquehanna.

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