The S&P 500 has had quite a run to brand new all-time highs in 2016. Sears Holding Corp SHLD 6.5% has not enjoyed the fun.
The battered retailer is down another 42.6 percent in 2016 and is now down 93.2 percent in the past decade.
While a number of Sears investors may have given up hope that the company can ever deliver a successful turnaround, billionaire CEO Eddie Lampart remains optimistic. In fact, he’s putting a large amount of his own money into transforming Sears into a viable investment.
Back in August, the controversial hedge fund manager once again lent Sears $300 million via his ESL Investments fund. The latest loan is part of a series of loans Sears has received in recent years to make up for ballooning quarterly earnings losses. Earlier in 2016, Lampert loaned Sears $125 million.
At this point, Lampert holds more than 31 million shares of Sears stock worth roughly $370 million. But Lampert is showing no signs of hedging his massive bet on Sears. As recently as November 30, Lampert reported acquired another 22,124 shares in a non-open market transaction.
Insider trading activity at Sears has died…
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