Stock Traders Purchase Large Volume of Symantec Call Options (SYMC)
Symantec Corporation (NASDAQ:SYMC) was the recipient of some unusual options trading activity on Thursday. Traders purchased 48,540 call options on the stock. This is an increase of 5,945% compared to the typical daily volume of 803 call options.
Shares of Symantec (NASDAQ:SYMC) opened at $28.98 on Friday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.12 and a current ratio of 1.12. Symantec has a 52 week low of $23.77 and a 52 week high of $34.20. The company has a market cap of $17,824.48, a PE ratio of 45.63, a price-to-earnings-growth ratio of 2.90 and a beta of 1.08.
Symantec (NASDAQ:SYMC) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. Symantec had a negative net margin of 5.29% and a positive return on equity of 12.33%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was up 25.7% on a year-over-year basis. equities research analysts predict that Symantec will post 1.05 EPS for the current fiscal year.
In related news, Director Anita M. Sands sold 2,000 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $33.51, for a total value of $67,020.00. Following the sale, the director now directly owns 37,386 shares of the company’s stock, valued at $1,252,804.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $32.81, for a total transaction of $82,025.00. The disclosure for this sale can be found here. Insiders sold 447,225 shares of company stock worth $13,081,030 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of SYMC. NGAM Advisors L.P. lifted its position in shares of Symantec by 5.4% in the second quarter. NGAM Advisors L.P. now owns 20,504 shares of the technology company’s stock worth $580,000 after purchasing an additional 1,051 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Symantec by 1.2% in the second quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock worth $263,000 after purchasing an additional 106 shares in the last quarter. Wetherby Asset Management Inc. lifted its position in shares of Symantec by 2.8% in the second quarter. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company’s stock worth $251,000 after purchasing an additional 246 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Symantec in the second quarter worth approximately $1,165,000. Finally, Alpine Woods Capital Investors LLC lifted its position in shares of Symantec by 86.4% in the second quarter. Alpine Woods Capital Investors LLC now owns 41,000 shares of the technology company’s stock worth $1,158,000 after purchasing an additional 19,000 shares in the last quarter. 95.02% of the stock is owned by institutional investors.
Several analysts have weighed in on the stock. Zacks Investment Research lowered shares of Symantec from a “hold” rating to a “sell” rating in a research note on Monday, October 9th. Standpoint Research lowered shares of Symantec from a “buy” rating to a “hold” rating in a research note on Monday, October 9th. Cowen lowered shares of Symantec from a “market perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a research note on Monday, October 9th. Piper Jaffray Companies restated a “buy” rating and set a $40.00 price target on shares of Symantec in a research report on Tuesday, September 12th. Finally, Morgan Stanley lowered shares of Symantec from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $37.00 to $34.00 in a research report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company’s stock. Symantec currently has an average rating of “Hold” and an average target price of $32.39.
Symantec Company Profile
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
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