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JCPenney CEO Ullman buys 112,000 shares of JCP

Mike Ullman
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Mike Ullman

J.C. Penney CEO Mike Ullman brought 112,000 shares of JCP at $8.95 a share, according to an SEC filling.

The filing, a Form 4, is filled with the U.S. Securities and Exchange Commission to reflect changes in a company's holdings that are made by the firm's insiders. The filling is mandatory and must be made within two business days of the transaction.

(Read more: Why JC Penney's $1.97 pants could spoil Christmas)

J.C. Penney was recently dropped from the Standard & Poor's 500 index after losing more than half of its market value this year.

The middle-market clothier is struggling to recover from a short but tumultuous run under former CEO Ron Johnson. J.C. Penney's stock has fallen $10.84, or 55 percent, to $8.87 this year.

Although, the company's stock has rebounded during the last month, there are still no signs that its business is stabilizing under Ullman.

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