American Eagle Outfitters Inc. (AEO) had three different insiders purchasing a total of 620,000 shares in September. Jay L Schottenstein bought 500,000 shares at a low price of $13.58 per share on September 8th. The dollar value of this transaction is $6.8 million. On the same day, Roger S. Markfield bought 10,000 shares at $13.52. Following these two insiders, Michael G Jesselson purchased 110,000 shares at prices between $14.70 and $14.30. It’s notable that his first transaction was at $14.7 and he made other purchases as the shares went down 3% following his first transaction.
From 10-K:
Founded in 1977, American Eagle Outfitters® is a leading apparel and accessories retailer that operates more than 1,000 retail stores in the U.S. and Canada, and online at ae.com®. Through its family of brands, AEO, Inc. offers high quality, on-trend clothing, accessories and personal care products at affordable prices. Our online business, AEO Direct, ships to 75 countries worldwide.
American Eagle Outfitters® boasts a passionate and loyal customer base ranging from college students to Hollywood celebrities. The Company focuses on delivering the right product at the right price, combined with a philosophy of operational excellence and discipline across the organization.
As of January 30, 2010, we operated 938 American Eagle Outfitters stores in the United States and Canada, 137 aerie stand-alone stores and 28 MARTIN+OSA stores.