JOANN Target of Unusually Large Options Trading (NASDAQ:JOAN)

JOANN Inc. (NASDAQ:JOANGet Rating) was the target of some unusual options trading on Wednesday. Stock investors purchased 8,243 call options on the company. This represents an increase of 1,658% compared to the average volume of 469 call options.

In other JOANN news, Director Darrell Webb sold 94,568 shares of the company’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $12.50, for a total transaction of $1,182,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 97,575 shares of company stock worth $1,218,014. Company insiders own 71.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of JOAN. Royce & Associates LP boosted its position in shares of JOANN by 117.3% in the 1st quarter. Royce & Associates LP now owns 1,718,356 shares of the company’s stock worth $19,606,000 after purchasing an additional 927,506 shares in the last quarter. Capital Research Global Investors boosted its position in shares of JOANN by 13.4% in the 3rd quarter. Capital Research Global Investors now owns 2,729,250 shares of the company’s stock worth $30,404,000 after purchasing an additional 323,517 shares in the last quarter. Crawford Investment Counsel Inc. acquired a new stake in shares of JOANN in the 1st quarter worth $3,506,000. Alden Global Capital LLC acquired a new stake in shares of JOANN in the 4th quarter worth $3,069,000. Finally, Invenomic Capital Management LP raised its stake in JOANN by 242.1% in the 4th quarter. Invenomic Capital Management LP now owns 351,502 shares of the company’s stock worth $3,648,000 after acquiring an additional 248,750 shares during the last quarter. 95.63% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ JOAN opened at $7.70 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.11 and a debt-to-equity ratio of 5.20. The stock has a market capitalization of $313.14 million, a PE ratio of 5.70 and a beta of 1.19. The stock’s fifty day simple moving average is $10.94 and its two-hundred day simple moving average is $10.71. JOANN has a 12-month low of $7.56 and a 12-month high of $17.50.

JOANN (NASDAQ:JOANGet Rating) last announced its earnings results on Thursday, March 17th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.27. The business had revenue of $735.30 million for the quarter, compared to analysts’ expectations of $752.33 million. JOANN had a return on equity of 62.50% and a net margin of 2.35%. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year. On average, equities analysts predict that JOANN will post 1.01 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 8th. Stockholders of record on Friday, March 25th were given a $0.11 dividend. This is a boost from JOANN’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, March 24th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.71%. JOANN’s dividend payout ratio (DPR) is presently 32.59%.

JOAN has been the topic of several recent analyst reports. Barclays reduced their price target on JOANN from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Monday, March 21st. Loop Capital increased their price target on JOANN from $13.00 to $15.00 in a report on Friday, March 18th. Zacks Investment Research upgraded JOANN from a “strong sell” rating to a “hold” rating in a report on Wednesday. Piper Sandler downgraded JOANN from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $12.00 to $11.00 in a report on Friday, March 18th. Finally, Guggenheim downgraded JOANN from a “buy” rating to a “neutral” rating in a report on Monday, March 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, JOANN presently has a consensus rating of “Hold” and an average target price of $13.14.

About JOANN (Get Rating)

JOANN Inc operates as a specialty retailer of sewing and fabrics, and arts and crafts category products in the United States. Its products in sewing category include cotton fabrics; warm fabrics, such as fleece and flannel fabrics; home decorating and utility fabrics and accessories; fashion and sportswear fabrics; special occasion fabrics; seasonally themed and licensed fabric designs; and sewing construction supplies comprising cutting implements, threads, zippers, trims, tapes, pins, elastic, and buttons, as well as patterns for sewing projects.

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