Guess? Stock Is Heading Higher After This Prominent Investor Increased Stake

Shares of apparel company Guess? (NYSE: GES) traded sharply higher on Tuesday, after a filing with the Securities and Exchange Commission revealed the company's CEO boosted his ownership stake. As of 12:15 p.m. EDT, the stock was up a whopping 17%.

Guess? CEO Carlos Alberini already directly owned over 500,000 shares of company stock. And he indirectly owned almost 350,000 shares through trust accounts. But on July 16, he bought 100,000 additional shares for his Carlos and Andrea Alberini Trust account. 

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Source Fool.com