The Limited Brands (LTD) Buyback Frenzy

Limited Brands Inc. (NYSE:LTD) Chief Executive Officer Leslie Wexner and eight other executives bought a record amount of stock last month after prices fell to a four-year low. Limited's Wexner, 70, who opened the company's first store 44 years ago in Columbus, Ohio, bought 1 million shares from Nov. 23 to Dec. 7 at prices ranging from $17.74 to $20.87, according to filings with the U.S. Securities and Exchange Commission. The open market purchases boosted Wexner's stake to 50.6 million shares and were his largest, according to data compiled by the Washington Service since 1987.

Eight other officers at Columbus-based Limited -- including Sharen Turney, 51, president of the Victoria's Secret lingerie division, and Allan Tessler, 71, a Limited board member since 1987 and chairman of New York-based mutual fund company Epoch Investment Partners -- bought 135,064 shares for about $2.5 million. The purchases were made the day after Thanksgiving, called Black Friday because it's considered the day retailers traditionally turned a profit for the year.

A Limited spokeswoman said Wexner and Turney declined to comment. A call to Tessler at Epoch wasn't returned.

Limited, which sells products under six brand names at more than 2,900 retail stores, has dropped 37% in the last 12 months:

It fell to the lowest level in almost four years on Nov. 20 after cutting its fourth- quarter profit forecast because of a ``challenging overall retail environment.''

"The shares are undervalued,'' said Pat Becker Jr., 42, who helps manage $2.5 billion, including 1.2 million Limited shares as of September, at Becker Capital Management in Portland, Oregon."Not only do we think that, but management thinks that. That gives us confidence that our thesis is correct.'' (Source:Bloomberg.com)

Don't forget LTD also includes the Victoria’s Secret business segment.  Now if that can't get you to buy the stock, then nothing will.