Stock Traders Buy High Volume of Put Options on Foot Locker (NYSE:FL)

Foot Locker, Inc. (NYSE:FL) was the recipient of some unusual options trading on Monday. Stock investors bought 15,659 put options on the company. This represents an increase of approximately 79% compared to the typical daily volume of 8,747 put options.

Foot Locker Stock Down 0.2%

Shares of NYSE FL opened at $23.81 on Tuesday. The stock has a market capitalization of $2.27 billion, a PE ratio of -5.28, a P/E/G ratio of 0.53 and a beta of 1.42. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average of $13.90 and a 200-day moving average of $18.59. Foot Locker has a 52-week low of $11.00 and a 52-week high of $33.94.

Foot Locker (NYSE:FL) last issued its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.32 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The firm’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 EPS. On average, analysts anticipate that Foot Locker will post 1.23 EPS for the current year.

Institutional Trading of Foot Locker

A number of hedge funds and other institutional investors have recently made changes to their positions in FL. Summit Investment Advisors Inc. boosted its holdings in Foot Locker by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,728 shares of the athletic footwear retailer’s stock valued at $190,000 after purchasing an additional 562 shares during the period. Harbour Investments Inc. increased its position in shares of Foot Locker by 81.6% during the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock valued at $31,000 after purchasing an additional 648 shares during the period. Signaturefd LLC increased its position in shares of Foot Locker by 27.2% during the first quarter. Signaturefd LLC now owns 4,579 shares of the athletic footwear retailer’s stock valued at $65,000 after purchasing an additional 980 shares during the period. Foundry Partners LLC lifted its holdings in shares of Foot Locker by 8.8% during the 4th quarter. Foundry Partners LLC now owns 12,784 shares of the athletic footwear retailer’s stock worth $278,000 after acquiring an additional 1,031 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Foot Locker during the fourth quarter valued at approximately $32,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FL shares. Piper Sandler decreased their target price on shares of Foot Locker from $19.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Needham & Company LLC reissued a “hold” rating and issued a $24.00 price objective on shares of Foot Locker in a report on Thursday, May 15th. JPMorgan Chase & Co. upgraded Foot Locker from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $16.00 to $24.00 in a research note on Thursday, May 15th. Morgan Stanley reduced their price target on Foot Locker from $16.00 to $14.00 and set an “underweight” rating for the company in a research report on Tuesday, May 6th. Finally, Evercore ISI decreased their price target on Foot Locker from $22.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Foot Locker currently has a consensus rating of “Hold” and an average target price of $21.19.

Foot Locker Company Profile

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.