Traders Purchase High Volume of Put Options on Aerojet Rocketdyne (AJRD)
Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) saw unusually large options trading activity on Tuesday. Stock investors purchased 2,978 put options on the company. This represents an increase of approximately 983% compared to the average daily volume of 275 put options.
In related news, CEO Eileen P. Drake sold 29,592 shares of Aerojet Rocketdyne stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $34.42, for a total value of $1,018,556.64. Following the completion of the transaction, the chief executive officer now owns 382,236 shares in the company, valued at $13,156,563.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is owned by insiders.
Several large investors have recently modified their holdings of AJRD. Alliancebernstein L.P. lifted its position in shares of Aerojet Rocketdyne by 8.6% during the 3rd quarter. Alliancebernstein L.P. now owns 101,390 shares of the aerospace company’s stock worth $3,446,000 after buying an additional 8,000 shares during the last quarter. Stevens Capital Management LP purchased a new stake in shares of Aerojet Rocketdyne during the 3rd quarter worth approximately $271,000. Riverhead Capital Management LLC lifted its position in shares of Aerojet Rocketdyne by 19.8% during the 3rd quarter. Riverhead Capital Management LLC now owns 8,453 shares of the aerospace company’s stock worth $287,000 after buying an additional 1,400 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Aerojet Rocketdyne by 39.3% during the 3rd quarter. Renaissance Technologies LLC now owns 546,595 shares of the aerospace company’s stock worth $18,579,000 after buying an additional 154,100 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of Aerojet Rocketdyne during the 3rd quarter worth approximately $1,763,000.
Aerojet Rocketdyne (NYSE:AJRD) last issued its quarterly earnings data on Tuesday, February 19th. The aerospace company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). The company had revenue of $437.90 million for the quarter, compared to analysts’ expectations of $512.37 million. Aerojet Rocketdyne had a return on equity of 36.16% and a net margin of 7.24%. The firm’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, equities research analysts anticipate that Aerojet Rocketdyne will post 1.33 EPS for the current fiscal year.
A number of research analysts recently issued reports on AJRD shares. Credit Suisse Group upgraded shares of Aerojet Rocketdyne from a “neutral” rating to an “outperform” rating in a research note on Monday, January 14th. SunTrust Banks lifted their price target on shares of Aerojet Rocketdyne to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Zacks Investment Research downgraded shares of Aerojet Rocketdyne from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, ValuEngine downgraded shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $45.00.
Aerojet Rocketdyne Company Profile
Aerojet Rocketdyne Holdings, Inc designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. The company operates through two segments, Aerospace and Defense, and Real Estate. The Aerospace and Defense segment offers aerospace and defense products and systems for the United States government, including the Department of Defense, the National Aeronautics and Space Administration, and aerospace and defense prime contractors.
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