Traders Buy High Volume of Calumet Specialty Products Partners Call Options (NASDAQ:CLMT)

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMTGet Free Report) was the recipient of unusually large options trading activity on Monday. Stock investors bought 4,899 call options on the stock. This is an increase of approximately 204% compared to the average daily volume of 1,610 call options.

Calumet Specialty Products Partners Price Performance

CLMT traded up $0.06 during trading hours on Monday, reaching $16.02. 34,382 shares of the stock traded hands, compared to its average volume of 109,846. The firm’s fifty day simple moving average is $16.00 and its two-hundred day simple moving average is $15.97. Calumet Specialty Products Partners has a fifty-two week low of $11.91 and a fifty-two week high of $19.91.

Calumet Specialty Products Partners (NASDAQ:CLMTGet Free Report) last posted its quarterly earnings data on Friday, May 10th. The oil and gas company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.13. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $984.10 million. Equities research analysts expect that Calumet Specialty Products Partners will post -1.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CLMT shares. The Goldman Sachs Group dropped their price objective on shares of Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a report on Wednesday, July 3rd. They set a “hold” rating for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, May 13th.

View Our Latest Analysis on Calumet Specialty Products Partners

Insider Buying and Selling

In related news, SVP Gregory J. Morical sold 11,111 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $15.04, for a total transaction of $167,109.44. Following the completion of the transaction, the senior vice president now owns 33,845 shares of the company’s stock, valued at $509,028.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.91% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC bought a new position in Calumet Specialty Products Partners during the 4th quarter valued at $116,000. Future Financial Wealth Managment LLC bought a new position in shares of Calumet Specialty Products Partners in the 1st quarter worth about $119,000. PFG Investments LLC bought a new position in shares of Calumet Specialty Products Partners in the 1st quarter worth about $155,000. Sapient Capital LLC bought a new position in shares of Calumet Specialty Products Partners in the 4th quarter worth about $188,000. Finally, Deuterium Capital Management LLC bought a new position in shares of Calumet Specialty Products Partners in the 1st quarter worth about $159,000. 34.41% of the stock is currently owned by institutional investors.

Calumet Specialty Products Partners Company Profile

(Get Free Report)

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Performance brands; Montana/Renewables; and Corporate segments.

Further Reading

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