Investors Purchase Large Volume of Global Payments Put Options (GPN)

Global Payments Inc (NYSE:GPN) was the target of some unusual options trading on Monday. Investors purchased 457 put options on the stock. This is an increase of approximately 762% compared to the average volume of 53 put options.

In other news, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of the stock in a transaction on Friday, December 14th. The stock was sold at an average price of $102.02, for a total transaction of $306,060.00. Following the completion of the sale, the director now owns 74,899 shares in the company, valued at approximately $7,641,195.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alan M. Silberstein sold 700 shares of the stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $109.66, for a total value of $76,762.00. Following the sale, the director now owns 42,169 shares of the company’s stock, valued at approximately $4,624,252.54. The disclosure for this sale can be found here. Insiders have sold a total of 6,700 shares of company stock worth $715,282 in the last ninety days. Insiders own 0.98% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley raised its position in shares of Global Payments by 184.0% during the 3rd quarter. Morgan Stanley now owns 459,685 shares of the business services provider’s stock valued at $58,564,000 after buying an additional 297,842 shares during the period. Iberiabank Corp purchased a new stake in shares of Global Payments during the 3rd quarter valued at approximately $281,000. Bank of Montreal Can raised its position in shares of Global Payments by 16.3% during the 3rd quarter. Bank of Montreal Can now owns 174,287 shares of the business services provider’s stock valued at $22,204,000 after buying an additional 24,415 shares during the period. Groesbeck Investment Management Corp NJ purchased a new stake in shares of Global Payments during the 4th quarter valued at approximately $249,000. Finally, Gulf International Bank UK Ltd raised its position in shares of Global Payments by 11.8% during the 3rd quarter. Gulf International Bank UK Ltd now owns 13,271 shares of the business services provider’s stock valued at $1,690,000 after buying an additional 1,400 shares during the period. 98.47% of the stock is currently owned by hedge funds and other institutional investors.

GPN stock opened at $116.02 on Tuesday. The company has a market cap of $18.18 billion, a PE ratio of 28.93, a PEG ratio of 1.12 and a beta of 1.15. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.03 and a current ratio of 1.03. Global Payments has a one year low of $94.81 and a one year high of $129.25.

GPN has been the subject of a number of research analyst reports. Goldman Sachs Group upgraded Global Payments from a “neutral” rating to a “buy” rating and raised their target price for the stock from $122.00 to $128.00 in a research note on Tuesday, January 8th. ValuEngine cut Global Payments from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Zacks Investment Research upgraded Global Payments from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. Guggenheim cut Global Payments from a “buy” rating to a “neutral” rating in a research report on Monday, November 5th. Finally, Robert W. Baird raised their target price on Global Payments from $136.00 to $142.00 and gave the company an “outperform” rating in a research report on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. Global Payments has a consensus rating of “Buy” and a consensus target price of $131.26.

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About Global Payments

Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, online reporting, industry compliance, and payment card industry security services.

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