OneMain Sees Unusually Large Options Volume (OMF)

OneMain Holdings Inc (NYSE:OMF) saw some unusual options trading activity on Wednesday. Stock traders bought 1,246 put options on the company. This represents an increase of approximately 816% compared to the typical volume of 136 put options.

Shares of OneMain (NYSE OMF) opened at $34.53 on Friday. OneMain has a one year low of $21.56 and a one year high of $35.11. The firm has a market cap of $3,605.70, a P/E ratio of 27.40, a PEG ratio of 1.30 and a beta of 2.72.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.14). OneMain had a net margin of 4.85% and a return on equity of 14.15%. The firm had revenue of $808.00 million during the quarter, compared to analysts’ expectations of $800.50 million. During the same period last year, the company earned $0.90 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. analysts anticipate that OneMain will post 3.52 earnings per share for the current year.

In other OneMain news, Director Wesley R. Edens sold 10,000,000 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $26.00, for a total value of $260,000,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wesley R. Edens sold 1,000,000 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $26.00, for a total transaction of $26,000,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,500,000 shares of company stock valued at $474,250,000. 57.73% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the stock. FMR LLC boosted its position in shares of OneMain by 7.9% during the 2nd quarter. FMR LLC now owns 10,776,907 shares of the financial services provider’s stock worth $265,004,000 after purchasing an additional 789,858 shares during the period. Vanguard Group Inc. boosted its position in shares of OneMain by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,401,256 shares of the financial services provider’s stock worth $108,227,000 after purchasing an additional 172,224 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of OneMain by 22.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,888,253 shares of the financial services provider’s stock worth $53,231,000 after purchasing an additional 344,126 shares during the period. Brandywine Global Investment Management LLC boosted its position in shares of OneMain by 6.8% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 1,612,038 shares of the financial services provider’s stock worth $39,641,000 after purchasing an additional 102,652 shares during the period. Finally, Alyeska Investment Group L.P. boosted its position in shares of OneMain by 5.9% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,314,062 shares of the financial services provider’s stock worth $37,043,000 after purchasing an additional 72,821 shares during the period. 95.81% of the stock is owned by hedge funds and other institutional investors.

OMF has been the subject of a number of recent research reports. Compass Point upgraded shares of OneMain from a “neutral” rating to a “buy” rating in a report on Thursday. Bank of America set a $35.00 price objective on shares of OneMain and gave the company a “buy” rating in a report on Friday, October 13th. BMO Capital Markets reissued a “buy” rating on shares of OneMain in a research note on Monday, November 6th. ValuEngine raised shares of OneMain from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Zacks Investment Research raised shares of OneMain from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $33.31.

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About OneMain

OneMain Holdings, Inc is a financial services holding company. The Company is a consumer finance company, which is engaged in providing personal loan products; credit and non-credit insurance, and service loans owned by it and service or subservice loans owned by third-parties. The Company’s segments include Consumer and Insurance; Acquisitions and Servicing; Real Estate, and Other.

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