Camping World insider Lemonis has been on a buying spree. JPMorgan upgrades CWH and the stock pops 10%.

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Mark Gaffney
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Marcus Lemonis is the CEO and majority shareholder of Camping World Holdings Inc (CWH), but he’s gained notoriety as the host of CNBC’s The Profit. In the series that has run since 2013, self-made multi-millionaire Lemonis has invested millions of his own money in small businesses that have great promise. But based on Lemonis’ recent insider trading, the best deal around may be his own company. Camping World insider Lemonis has been on a buying spree of CWH shares.

Camping World Holdings, Inc. is America’s largest retailer of recreational vehicles and related services and products.

Since March of this year, Marcus Lemonis has spent $5.6M buying CWH on the open market. He’s filed 23 separate Form 4s, acquiring 336,717 shares at an average price of $10.74. His most recent purchase was $100K of CWH at $29.57 last Friday. CWH closed at 33.53 today, up nearly 10%. Including shares owned by Lemonis’ wholly owned LLC, the Camping World CEO owns over 40% of his company’s shares.

Camping World insider Lemonis purchases since March 2020.

Filing DateInsiderTitleTransactionTrade Date Shares Avg. Price Total 
08-Sep-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy04-Sep-2020           3,39529.57 $    100,381.00
04-Sep-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy03-Sep-2020           3,10032.18 $      99,768.50
03-Sep-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy02-Sep-2020           3,10532.26 $    100,175.00
01-Sep-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy31-Aug-2020         17,52529.04 $    508,910.00
31-Aug-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy28-Aug-2020           3,08532.55 $    100,412.00
27-Aug-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy27-Aug-2020           3,20031.21 $      99,867.80
26-Aug-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy25-Aug-2020         16,77529.82 $    500,153.00
25-Aug-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy24-Aug-2020         15,47532.23 $    498,804.00
21-Aug-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy20-Aug-2020           7,56533.05 $    250,059.00
20-Aug-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy19-Aug-2020           2,69037.17 $      99,983.30
19-Aug-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy18-Aug-2020           2,80535.71 $    100,167.00
18-Aug-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy17-Aug-2020           2,95833.8 $      99,968.30
17-Aug-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy14-Aug-2020           2,97533.63 $    100,053.00
13-Aug-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy13-Aug-2020           2,95433.82 $      99,904.30
12-Aug-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy12-Aug-2020           3,01233.22 $    100,044.00
11-Aug-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy11-Aug-2020           3,09932.29 $    100,063.00
10-Aug-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy10-Aug-2020           3,08032.56 $    100,281.00
12-Jun-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy11-Jun-2020         23,50021.27 $    499,958.00
08-Jun-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy05-Jun-2020         13,97521.48 $    300,130.00
26-May-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy21-May-2020           2,44420.48 $      50,053.10
12-Mar-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy12-Mar-2020       100,0006.33 $    632,890.00
09-Mar-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy05-Mar-2020         50,00010.71 $    535,560.00
05-Mar-2020Lemonis MarcusCEO, Director, 10% OwnerOpen Mkt Buy05-Mar-2020         50,00010.74 $    537,170.00
       336,71710.7434 $ 5,614,755.30

JPMorgan upgraded Camping World from neutral to overweight. CWH to benefit from “demand tailwinds” as Covid-worried consumers look to get away.

But while Camping World insider Lemonis has been on a buying spree in recent months, today’s spike in CWH can be attributed to an upgrade by JPMorgan’s Ryan Brinkman. The analyst told investors in a note this morning that Camping World will benefit from “demand tailwinds” as consumers hit the road in search of open spaces to avoid Covid-19. He also raised his price target to $40 per share from $30.

Brinkman said the sales momentum that began in the second quarter has definitely carried over into the third, indicating there may be a fear over additional COVID-19 outbreaks.

“With over one hundred dealership locations, Camping World is by far the largest player in the fragmented market for new and used RV sales and supplies,” the analyst said. He also noted that Camping World’s scale gives it numerous benefits relative to its smaller competitors.These include volume discounts, which widen gross-profit margins, more favorable terms with financing sources, and a wider assortment of offerings to consumers, available across its greater number of stores.

The coronavirus pandemic shutdown has ravaged the travel industry, with airlines, cruise operators and hotel chains all suffering as people stay home. 

But Camping World’s stock has soared since the pandemic started, rising nearly 900% from its March low.

CWH is up nearly 900% since Camping World insider Marcus Lemonis began his buying spree.

On August 5 CWH announced 2nd quarter results for the period ending June 30. The company’s revenue increased 9.0%, or $132.4M, to $1.61B. In a press release, Marcus Lemonis had this to say:

“…Over the past 24 months, we have made significant investments and enhancements in our digital capabilities, which has allowed us to quickly pivot and handle the surge in web traffic, call center volume and lead volume that we have seen since mid-April for our products and services. Through our enhanced platform, we have been successful in engaging new and existing customers in all areas of our business, including customer service, tech support, RV unit selection and demonstration, RV service assistance, retail product selection and installation, and the sale of Good Sam protection plans and services such as roadside assistance, extended warranties, insurance and travel assistance. In addition, our team has done an amazing job at managing our supply chain and replenishing inventory levels in key products and categories. As a result, we are very pleased with our year-to-date and quarterly results, and the prospects for the future.”

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