Stock Traders Purchase Large Volume of St. Joe Put Options (JOE)
St. Joe Co (NYSE:JOE) saw unusually large options trading on Monday. Stock traders bought 1,693 put options on the stock. This represents an increase of 1,439% compared to the average daily volume of 110 put options.
Several institutional investors have recently added to or reduced their stakes in JOE. Renaissance Technologies LLC bought a new stake in shares of St. Joe during the 4th quarter valued at about $1,967,000. Raymond James & Associates grew its stake in shares of St. Joe by 59.7% during the 4th quarter. Raymond James & Associates now owns 25,987 shares of the financial services provider’s stock valued at $469,000 after purchasing an additional 9,715 shares during the period. MetLife Investment Advisors LLC bought a new stake in shares of St. Joe during the 4th quarter valued at about $360,000. Wells Fargo & Company MN grew its stake in shares of St. Joe by 105.0% during the 1st quarter. Wells Fargo & Company MN now owns 313,162 shares of the financial services provider’s stock valued at $5,904,000 after purchasing an additional 160,397 shares during the period. Finally, Diversified Investment Strategies LLC grew its stake in shares of St. Joe by 75.7% during the 1st quarter. Diversified Investment Strategies LLC now owns 267,725 shares of the financial services provider’s stock valued at $5,047,000 after purchasing an additional 115,350 shares during the period. Institutional investors and hedge funds own 96.24% of the company’s stock.
Separately, Zacks Investment Research upgraded St. Joe from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday, June 26th.
St. Joe (NYSE:JOE) last released its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.05. The business had revenue of $50.40 million during the quarter, compared to the consensus estimate of $26.80 million. St. Joe had a return on equity of 1.66% and a net margin of 56.86%. equities research analysts anticipate that St. Joe will post 0.09 earnings per share for the current year.
St. Joe Company Profile
The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Florida, the United States. It operates through four segments: Residential Real Estate, Resorts and Leisure, Commercial Leasing and Sales, and Forestry. The Residential Real Estate segment plans and develops residential communities of various sizes.
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