GAP records unusually high option volume (NYSE:GPS) | Panda Anku

The Gap, Inc. (NYSE:GPS – Get Rating) traded some unusual options on Thursday. Traders purchased 28,583 put options on the company. This represents an 82% increase over the typical daily volume of 15,722 put options.

Insider buying and selling at GAP

In related news, CEO Mary Beth Laughton sold 6,387 shares of the company’s stock in a transaction that took place on Wednesday, August 10th. The stock sold at an average price of $10.07 for a total transaction of $64,317.09. Upon completion of the sale, the Chief Executive Officer now owns 31,561 shares of the Company, valued at $317,819.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC’s website. 44.19% of the shares are owned by insiders.

Hedge funds weigh on CAP

A number of institutional investors recently changed their holdings in the company. The CKW Financial Group increased its stake in GAP by 118.2% in the first quarter. CKW Financial Group now owns 2,400 shares of the apparel retailer, valued at $32,000, after purchasing an additional 1,300 shares during the period. Lindbrook Capital LLC increased its stake in GAP by 290.2% in the second quarter. Lindbrook Capital LLC now owns 4,062 shares of the apparel retailer, valued at $33,000, after purchasing an additional 3,021 shares during the period. Byrne Asset Management LLC increased its position in GAP by 111.5% in the first quarter. Byrne Asset Management LLC now owns 2,474 shares of the apparel retailer, valued at $35,000, after buying another 1,304 shares last quarter. Covestor Ltd purchased a new position in GAP stock valued at $40,000 during the fourth quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in GAP shares by 58.5% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 5,150 shares of the apparel retailer, valued at $42,000, after purchasing an additional 1,900 shares during the period. Institutional investors and hedge funds own 58.23% of the company’s shares.

GAP price development

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Shares of GAP stock rose $0.05 during Thursday trading to hit $9.96. 499,188 shares of the Company were exchanged compared to an average deal of 7,332,455. GAP has a 52-week low of $7.79 and a 52-week high of $28.87. The company has a quick ratio of 0.53, a current ratio of 1.44 and a debt to equity ratio of 0.75. The company has a 50-day moving average price of $9.36 and a 200-day moving average price of $11.92. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of -48.29 and a beta of 1.75.

GAP (NYSE:GPS – Get Rating) last released its quarterly earnings results on Thursday, May 26th. The apparel retailer reported earnings per share of ($0.44) for the quarter, missing the consensus estimate of ($0.11) by ($0.33). The company made $3.48 billion in revenue for the quarter, compared to analysts’ expectations of $3.49 billion. GAP had a positive return on equity of 7.43% and a negative net margin of 0.45%. The company’s quarterly revenue fell 12.9% year over year. In the same period last year, the company posted $0.48 per share. On average, equities analysts expect GAP to report earnings per share of -0.05 for the current fiscal year.

GAP announces dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. On Wednesday, October 5th, shareholders of record will receive a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday October 4th. That equates to a dividend of $0.60 on an annualized basis and a dividend yield of 6.02%. GAP’s Dividend Payout Ratio (DPR) is currently -285.71%.

Analyst upgrades and downgrades

A number of brokers have recently commented on GPS. B. Riley lowered its price target on GAP shares to $8.00 from $12.00 and gave the stock a “neutral” rating in a report on Tuesday, July 12. Barclays lowered its price target on GAP shares to $6.00 from $7.00 and ranked the stock as “underweight” in a research note on Tuesday, July 12. The Telsey Advisory Group lowered its price target on GAP shares to $10.00 from $13.00 and issued a market perform rating on the company in a research note on Tuesday, July 12. Cowen lowered his price target on GAP to $12.00 from $16.00 and gave the stock a “Market Perform” rating in a research report on Tuesday, May 31. Finally, UBS Group lowered its price target on GAP to $8.00 from $11.00 and gave the company a neutral rating in a research note on Friday, July 15. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company. According to MarketBeat, GAP currently has a consensus rating of “Hold” and a consensus target of $10.54.

GAP company profile

(get rating)

The Gap, Inc operates as an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Old Navy, Gap, Banana Republic and Athleta brands. Its products include denim, t-shirts, fleece and khakis; glasses, jewellery, shoes, handbags and fragrances; and fitness and lifestyle products for use in yoga, exercise, sports, travel and everyday activities for women and girls.

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This instant news alert was generated by MarketBeat’s narrative science technology and financial data to provide readers with the fastest, most accurate reporting. This story was reviewed by the MarketBeat editorial team before publication. Please send questions or comments about this story to contact@marketbeat.com.

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