L Brands Target of Unusually Large Options Trading (LB)
L Brands, Inc. (NYSE:LB) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 19,923 put options on the stock. This is an increase of approximately 801% compared to the average daily volume of 2,211 put options.
In other L Brands news, Director Allan R. Tessler purchased 20,000 shares of L Brands stock in a transaction dated Thursday, September 21st. The stock was purchased at an average price of $37.00 per share, with a total value of $740,000.00. Following the transaction, the director now directly owns 43,342 shares of the company’s stock, valued at $1,603,654. The purchase was disclosed in a document filed with the SEC, which is available through this link. 16.68% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC boosted its stake in L Brands by 17.7% during the second quarter. Lord Abbett & CO. LLC now owns 400,200 shares of the specialty retailer’s stock worth $21,567,000 after buying an additional 60,056 shares during the last quarter. Rikoon Group LLC boosted its stake in L Brands by 5.3% during the second quarter. Rikoon Group LLC now owns 24,697 shares of the specialty retailer’s stock worth $1,330,000 after buying an additional 1,250 shares during the last quarter. Advisory Services Network LLC boosted its stake in L Brands by 5,618.0% during the second quarter. Advisory Services Network LLC now owns 5,089 shares of the specialty retailer’s stock worth $274,000 after buying an additional 5,000 shares during the last quarter. WINTON GROUP Ltd boosted its stake in L Brands by 182.6% during the second quarter. WINTON GROUP Ltd now owns 59,353 shares of the specialty retailer’s stock worth $3,199,000 after buying an additional 38,349 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in L Brands by 0.5% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,981,735 shares of the specialty retailer’s stock worth $106,796,000 after buying an additional 10,240 shares during the last quarter. 79.48% of the stock is currently owned by institutional investors.
L Brands (NYSE:LB) opened at 42.92 on Friday. L Brands has a 52-week low of $35.00 and a 52-week high of $75.50. The company has a market capitalization of $12.18 billion, a P/E ratio of 12.60 and a beta of 0.68. The stock’s 50 day moving average price is $38.95 and its 200-day moving average price is $46.09.
L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.03. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the business earned $0.70 earnings per share. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. Analysts predict that L Brands will post $3.14 earnings per share for the current fiscal year.
L Brands declared that its board has authorized a share buyback program on Monday, September 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Several research firms have recently commented on LB. BMO Capital Markets set a $44.00 price target on shares of L Brands and gave the company a “hold” rating in a research report on Tuesday, August 8th. Jefferies Group LLC set a $32.00 price target on shares of L Brands and gave the company a “sell” rating in a research report on Thursday, August 17th. Instinet reduced their price target on shares of L Brands from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, August 17th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of L Brands in a research report on Thursday. Finally, MKM Partners reduced their price target on shares of L Brands from $48.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday. Seven research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have assigned a buy rating to the company’s stock. L Brands currently has a consensus rating of “Hold” and an average target price of $46.41.
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L Brands Company Profile
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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