Traders Purchase Large Volume of Nordstrom Put Options (NYSE:JWN)

Nordstrom, Inc. (NYSE:JWN) saw some unusual options trading activity on Monday. Stock investors bought 22,121 put options on the stock. This is an increase of approximately 1,036% compared to the typical volume of 1,948 put options.

Institutional Trading of Nordstrom

Hedge funds and other institutional investors have recently made changes to their positions in the company. Picton Mahoney Asset Management purchased a new stake in Nordstrom in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc lifted its holdings in shares of Nordstrom by 40.9% in the 1st quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer’s stock valued at $40,000 after buying an additional 470 shares during the period. Parallel Advisors LLC boosted its stake in shares of Nordstrom by 48.6% in the first quarter. Parallel Advisors LLC now owns 1,690 shares of the specialty retailer’s stock valued at $41,000 after buying an additional 553 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Nordstrom in the first quarter valued at approximately $45,000. Finally, Spire Wealth Management grew its holdings in Nordstrom by 90.9% during the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Price Performance

Shares of NYSE JWN opened at $24.63 on Tuesday. The stock has a market cap of $4.12 billion, a P/E ratio of 15.69 and a beta of 2.36. Nordstrom has a twelve month low of $19.45 and a twelve month high of $24.99. The stock has a 50 day moving average of $24.14 and a two-hundred day moving average of $23.92. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, beating the consensus estimate of $0.90 by $0.20. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. On average, research analysts forecast that Nordstrom will post 1.97 earnings per share for the current year.

Analyst Ratings Changes

JWN has been the subject of a number of analyst reports. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a research note on Wednesday, March 5th. StockNews.com started coverage on Nordstrom in a research report on Sunday. They set a “buy” rating for the company. Finally, Citigroup reiterated a “sell” rating and issued a $22.00 price objective (down previously from $25.00) on shares of Nordstrom in a report on Friday, April 4th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Nordstrom has a consensus rating of “Hold” and a consensus target price of $22.80.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.