Shares of Lululemon Athletica inc. (LULU) closed over 5.2% on Thursday after SEC filings showed that Director Glenn Murphy purchased 100,000 shares of the athleisure retailer's stock on Tuesday, June 27.
TheStreet first reported the purchase on Wednesday.
Murphy acquired the shares at an average price of $55.50 per share, for a total transaction value of $5.55 million. Following the completion of the sale, Murphy now owns 100,344 shares of Lululemon stock, valued at roughly $5.6 million.
Shares of Lululemon were sent higher on Wednesday after an analyst confirmed to TheStreet that there was a "real possibility" the althleisure company is taken private.
What's Hot On TheStreet
Happy birthday iPhone: Apple's (AAPL) iPhone turns 10 years old today! What an amazing product Steve Jobs and his team created. But, as TheStreet's Natalie Walters points out, the next five years for Apple could be radically different. Sales could well be boosted by new, non-iPhone products such as smart glasses and autonomous car technologies. Walters also mentions that iPhone demand may peak in 2019.
Blue Apron falters: Blue Apron (APRN) plans an initial public offering on Thursday seeking a valuation of about $2 billion. That's down significantly from a $3.2 billion valuation it had previously hoped to achieve. In the public sphere, the New York-based meal kit delivery service's IPO comes at an unsettling time, points out TheStreet's Ron Orol, as the markets begin to digest Amazon Inc.'s (AMZN) mega $13.4 billion acquisition of Whole Foods Market Inc. (WFM) . Moreover, investors have questioned Blue Apron's business model -- it hasn't turned a profit since 2012 due to rising marketing and distribution costs.
Regulators outsmarted: With questions swirling whether its combination would get approved by regulators, Walgreens Boots Alliance (WBA) and Rite-Aid (RAD) struck a clever deal on Thursday. Walgreens will pay $5.175 billion to Rite-Aid in cash and receive 2,186 stores in return. Walgreens will also pay Rite-Aid a $325 million termination fee for its planned buyout of the company.
Walgreens will be an even bigger drug-selling beast, with more than 15,000 stores spanning 11 countries. As for Rite-Aid, it will be left with about 2,300 stores once the deal closes in six months.
Visit here for the latest business headlines.