Signet Jewelers Target of Unusually Large Options Trading (NYSE:SIG)

Signet Jewelers Ltd. (NYSE:SIG) was the target of some unusual options trading on Monday. Stock investors bought 7,463 put options on the company. This is an increase of 843% compared to the typical volume of 791 put options.

Shares of SIG opened at $17.40 on Tuesday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.37 and a current ratio of 2.10. The stock has a 50 day moving average price of $16.71 and a two-hundred day moving average price of $16.82. The firm has a market capitalization of $960.07 million, a P/E ratio of 4.68, a P/E/G ratio of 0.92 and a beta of 1.03. Signet Jewelers has a 52 week low of $10.40 and a 52 week high of $54.04.

Signet Jewelers (NYSE:SIG) last posted its earnings results on Thursday, September 5th. The company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.26. Signet Jewelers had a positive return on equity of 17.75% and a negative net margin of 2.99%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, equities analysts forecast that Signet Jewelers will post 3.08 earnings per share for the current year.

The company also recently disclosed a — dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 1st were issued a dividend of $0.37 per share. This represents a yield of 10.5%. The ex-dividend date was Thursday, October 31st. Signet Jewelers’s dividend payout ratio is 39.78%.

In other news, CFO Joan M. Hilson acquired 7,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $14.46 per share, for a total transaction of $108,450.00. Following the completion of the acquisition, the chief financial officer now directly owns 33,127 shares in the company, valued at approximately $479,016.42. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Virginia Drosos acquired 4,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $14.14 per share, with a total value of $56,560.00. Following the acquisition, the chief executive officer now owns 232,181 shares of the company’s stock, valued at $3,283,039.34. The disclosure for this purchase can be found here. Insiders own 0.96% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Arizona State Retirement System increased its position in shares of Signet Jewelers by 1.6% during the second quarter. Arizona State Retirement System now owns 37,879 shares of the company’s stock valued at $677,000 after acquiring an additional 603 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in Signet Jewelers by 105.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,951 shares of the company’s stock worth $35,000 after buying an additional 1,000 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in Signet Jewelers by 8.3% during the third quarter. Wedge Capital Management L L P NC now owns 14,456 shares of the company’s stock worth $242,000 after buying an additional 1,109 shares during the last quarter. Meadow Creek Investment Management LLC raised its position in Signet Jewelers by 23.1% in the second quarter. Meadow Creek Investment Management LLC now owns 6,064 shares of the company’s stock worth $108,000 after acquiring an additional 1,136 shares during the period. Finally, Neuburgh Advisers LLC raised its position in Signet Jewelers by 23.1% in the second quarter. Neuburgh Advisers LLC now owns 8,338 shares of the company’s stock worth $149,000 after acquiring an additional 1,562 shares during the period.

SIG has been the subject of several research reports. Bank of America reduced their price target on shares of Signet Jewelers from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Zacks Investment Research upgraded shares of Signet Jewelers from a “sell” rating to a “hold” rating and set a $15.00 price target for the company in a research note on Monday, August 12th. ValuEngine downgraded shares of Signet Jewelers from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Finally, Citigroup dropped their price objective on shares of Signet Jewelers from $17.00 to $12.00 and set a “sell” rating on the stock in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Signet Jewelers currently has a consensus rating of “Hold” and an average target price of $24.29.

Signet Jewelers Company Profile

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products. As of February 02, 2019, it operated 3,334 stores and kiosks. The company operates through three segments: North America, International, and Other. The North America segment operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Jewelers, Zales Outlet, Piercing Pagoda, Peoples Jewellers, Gordon's Jewelers, and Mappins Jewellers regional banners; and JamesAllen.com, an online jewelry retailer Website.

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