Traders Buy High Volume of Put Options on Aaron’s (AAN)

Aaron’s, Inc. (NYSE:AAN) saw some unusual options trading activity on Friday. Investors purchased 1,506 put options on the company. This represents an increase of approximately 1,176% compared to the average daily volume of 118 put options.

Institutional investors have recently made changes to their positions in the stock. KBC Group NV acquired a new stake in shares of Aaron’s during the 3rd quarter worth about $192,000. Verity Asset Management Inc. acquired a new stake in shares of Aaron’s during the 4th quarter worth about $202,000. ARP Americas LLC acquired a new stake in shares of Aaron’s during the 3rd quarter worth about $209,000. Shelton Capital Management acquired a new stake in shares of Aaron’s during the 3rd quarter worth about $210,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Aaron’s during the 2nd quarter worth about $211,000. Institutional investors and hedge funds own 99.19% of the company’s stock.

Shares of Aaron’s (AAN) opened at $39.46 on Monday. The stock has a market cap of $2,790.00, a PE ratio of 20.88 and a beta of 0.20. The company has a current ratio of 2.35, a quick ratio of 0.74 and a debt-to-equity ratio of 0.24. Aaron’s has a 1 year low of $26.12 and a 1 year high of $48.22.

AAN has been the subject of a number of recent research reports. Stephens restated a “buy” rating and issued a $61.00 price objective on shares of Aaron’s in a research note on Wednesday, January 3rd. Raymond James Financial upgraded shares of Aaron’s from a “market perform” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a research note on Friday, November 10th. Zacks Investment Research upgraded shares of Aaron’s from a “sell” rating to a “hold” rating in a research note on Thursday, December 28th. Janney Montgomery Scott started coverage on shares of Aaron’s in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $42.00 price objective for the company. Finally, Northcoast Research set a $53.00 target price on shares of Aaron’s and gave the stock a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $46.10.

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About Aaron’s

Aaron’s, Inc (Aaron’s) is an omnichannel provider of lease-purchase solutions. The Company engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Company-operated and franchised stores in Canada, as well as its e-commerce platform, Aarons.com.

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