Traders Purchase High Volume of Frank’s International Call Options (NYSE:FI)


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Frank’s International (NYSE:FI) saw some unusual options trading activity on Tuesday. Stock traders purchased 3,540 call options on the stock. This represents an increase of approximately 9,733% compared to the typical volume of 36 call options.

Several institutional investors and hedge funds have recently made changes to their positions in FI. Teacher Retirement System of Texas purchased a new position in Frank’s International during the fourth quarter worth about $28,000. Paloma Partners Management Co purchased a new position in Frank’s International during the fourth quarter worth about $76,000. ProShare Advisors LLC raised its holdings in Frank’s International by 80.7% during the fourth quarter. ProShare Advisors LLC now owns 34,327 shares of the pipeline company’s stock worth $94,000 after purchasing an additional 15,330 shares in the last quarter. Citigroup Inc. raised its holdings in Frank’s International by 185.1% during the fourth quarter. Citigroup Inc. now owns 35,489 shares of the pipeline company’s stock worth $97,000 after purchasing an additional 23,040 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in Frank’s International by 414.2% during the third quarter. BNP Paribas Arbitrage SA now owns 41,393 shares of the pipeline company’s stock worth $64,000 after purchasing an additional 33,343 shares in the last quarter. Institutional investors and hedge funds own 49.45% of the company’s stock.

Separately, Zacks Investment Research downgraded shares of Frank’s International from a “hold” rating to a “sell” rating in a research note on Wednesday, February 17th.

Shares of FI traded up $1.15 during mid-day trading on Tuesday, hitting $4.62. 185,270 shares of the company’s stock were exchanged, compared to its average volume of 634,284. Frank’s International has a fifty-two week low of $1.49 and a fifty-two week high of $3.92. The firm has a market capitalization of $1.05 billion, a P/E ratio of -2.89 and a beta of 1.51. The business’s 50 day moving average is $3.07 and its two-hundred day moving average is $2.44.

About Frank’s International

Frank's International N.V. provides various engineered tubular services for the oil and gas exploration and production, and oilfield services companies in the United States, Europe, the Middle East, Africa, Latin America, the Asia Pacific, and internationally. It operates through three segments: Tubular Running Services, Tubulars, and Cementing Equipment.

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