Camping World Holdings shares fell in 2022, and CEO Marcus Lemonis bought more than $1 million worth of stock in the RV and camping gear seller on the open market. Lemonis is also the lead on the UKTN show Profitin which he helps fix struggling small businesses.
the stock (ticker: CWH) has lost 43% of its value this year, compared to a decline of 22%
S&P 500 index.
Stocks soared during the pandemic as outdoor adventures gained traction in a world of shuttered businesses and shutdowns.
Camping World’s stock soared 77% in 2020 and soared another 55% in 2021. Now that other forms of travel and leisure, from airlines to cruises, have relaunched, the motorhome only stands out. more like before. The company’s first quarter, released in early May, was strong, but shares fell.
Lemonis paid $1.01 million on June 10 for 38,350 Camping World shares, an average price of $26.36 each, according to a form he filed with the Securities and Exchange Commission. He already controls 53% of Camping World’s voting rights, partly through supervisory stock, according to the company’s latest proxy from May.
“It’s the most important thing in my life, and owning more of the business is my top priority,” he wrote in an email to Barrons.
After the first quarter report, JP Morgan analyst Ryan Brinkman reiterated an overweight rating on Camping World shares, but lowered his estimates and cut the price target to $50 from $58.
Inside Scoop is a regular Barron column that covers the stock trading of corporate executives and board members – the so-called insiders – as well as major shareholders, politicians and other important figures. Because of their insider status, these investors are required to disclose stock trades to the Securities and Exchange Commission or other regulatory groups.