Stock Traders Purchase Large Volume of Floor & Decor Put Options (FND)
Floor & Decor Holdings, Inc. (NYSE:FND) saw some unusual options trading on Friday. Stock investors acquired 1,210 put options on the stock. This represents an increase of 676% compared to the typical volume of 156 put options.
Several equities research analysts have weighed in on the company. BMO Capital Markets increased their price objective on Floor & Decor from $41.00 to $45.00 and gave the stock a “market perform” rating in a report on Monday, November 6th. Zacks Investment Research upgraded Floor & Decor from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Monday, November 6th. Piper Jaffray Companies reiterated a “hold” rating and issued a $42.00 price objective on shares of Floor & Decor in a report on Thursday, October 12th. J P Morgan Chase & Co assumed coverage on Floor & Decor in a report on Monday, October 16th. They issued an “overweight” rating and a $46.00 price objective for the company. Finally, Bank of America reiterated a “buy” rating and issued a $42.00 price objective on shares of Floor & Decor in a report on Tuesday, September 5th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $42.93.
Floor & Decor (FND) opened at $41.39 on Monday. Floor & Decor has a 52-week low of $29.37 and a 52-week high of $46.99. The company has a current ratio of 1.33, a quick ratio of 0.18 and a debt-to-equity ratio of 0.47.
In other Floor & Decor news, Chairman Norman Axelrod sold 117,038 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $34.92, for a total value of $4,086,966.96. Following the completion of the sale, the chairman now owns 3,095 shares in the company, valued at approximately $108,077.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director George Vincent West sold 50,000 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $37.90, for a total value of $1,895,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,277,666 shares of company stock valued at $185,289,781 over the last 90 days.
Large investors have recently made changes to their positions in the company. Ares Management LLC bought a new position in shares of Floor & Decor in the 2nd quarter worth approximately $2,049,069,000. Goldman Sachs Group Inc. bought a new position in shares of Floor & Decor in the 2nd quarter worth approximately $3,285,000. Brighton Jones LLC bought a new position in shares of Floor & Decor in the 2nd quarter worth approximately $397,000. FS Capital Partners VI LLC bought a new position in Floor & Decor during the 2nd quarter valued at approximately $993,798,000. Finally, Federated Investors Inc. PA bought a new position in Floor & Decor during the 2nd quarter valued at approximately $20,502,000. 93.89% of the stock is owned by hedge funds and other institutional investors.
About Floor & Decor
Floor & Decor Holdings, Inc, formerly FDO Holdings, Inc, is a retailer of hard surface flooring and related accessories. The Company retails its products such as tile, stone, wood, marble, glass and decoratives. The Company has 72 stores across 17 states in the United States. The Company provides its products to customers, including professional installers and commercial businesses (Pro), Do it Yourself customers (DIY) and customers who buy the products for professional installation (Buy it Yourself or BIY).
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