Stock Traders Buy Large Volume of Put Options on J.C. Penney Company, Inc. Holding (NYSE:JCP)

J.C. Penney Company, Inc. Holding Company (NYSE:JCP) saw unusually large options trading on Monday. Stock investors purchased 47,850 put options on the company. This represents an increase of approximately 803% compared to the typical volume of 5,301 put options.

JCP has been the subject of a number of research analyst reports. Telsey Advisory Group boosted their price objective on J.C. Penney Company, Inc. Holding from $7.00 to $11.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. ValuEngine upgraded J.C. Penney Company, Inc. Holding from a “hold” rating to a “buy” rating in a report on Tuesday, May 16th. BidaskClub upgraded J.C. Penney Company, Inc. Holding from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Jefferies Group LLC restated a “hold” rating and set a $7.00 price objective on shares of J.C. Penney Company, Inc. Holding in a report on Tuesday, July 4th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of J.C. Penney Company, Inc. Holding in a report on Saturday, May 13th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. J.C. Penney Company, Inc. Holding currently has an average rating of “Hold” and a consensus price target of $6.49.

J.C. Penney Company, Inc. Holding (NYSE JCP) opened at 5.16 on Thursday. The firm’s 50-day moving average is $4.93 and its 200 day moving average is $5.62. J.C. Penney Company, Inc. Holding has a 12 month low of $4.17 and a 12 month high of $11.30. The firm’s market capitalization is $1.60 billion.

J.C. Penney Company, Inc. Holding (NYSE:JCP) last announced its quarterly earnings results on Friday, May 12th. The department store operator reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.27. J.C. Penney Company, Inc. Holding had a negative net margin of 0.89% and a positive return on equity of 11.44%. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the firm earned ($0.22) EPS. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, analysts expect that J.C. Penney Company, Inc. Holding will post $0.49 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. increased its stake in J.C. Penney Company, Inc. Holding by 33.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,721 shares of the department store operator’s stock worth $103,000 after buying an additional 4,205 shares in the last quarter. Meadow Creek Investment Management LLC increased its stake in J.C. Penney Company, Inc. Holding by 14.5% in the first quarter. Meadow Creek Investment Management LLC now owns 17,472 shares of the department store operator’s stock worth $108,000 after buying an additional 2,212 shares in the last quarter. Parametrica Management Ltd bought a new stake in J.C. Penney Company, Inc. Holding during the first quarter worth about $117,000. FNY Managed Accounts LLC bought a new stake in J.C. Penney Company, Inc. Holding during the first quarter worth about $117,000. Finally, Janney Montgomery Scott LLC increased its stake in J.C. Penney Company, Inc. Holding by 84.4% in the first quarter. Janney Montgomery Scott LLC now owns 19,818 shares of the department store operator’s stock worth $122,000 after buying an additional 9,068 shares in the last quarter. 77.17% of the stock is owned by hedge funds and other institutional investors.

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J.C. Penney Company, Inc. Holding Company Profile

J. C. Penney Company, Inc is a holding company. The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com. Its department stores and Website generally serve the same type of customers, its Website offers virtually the same mix of merchandise as its store assortment and other categories, and its department stores generally accept returns from sales made in stores and through its Website.

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