Foot Locker Sees Unusually High Options Volume (NYSE:FL)

Foot Locker, Inc. (NYSE:FL) saw some unusual options trading on Friday. Stock investors purchased 15,950 put options on the company. This is an increase of 84% compared to the typical volume of 8,682 put options.

Insider Buying and Selling at Foot Locker

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of Foot Locker stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $32.93, for a total transaction of $8,129,955.98. Following the completion of the transaction, the insider now directly owns 11,146,292 shares of the company’s stock, valued at $367,047,395.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 787,566 shares of company stock valued at $26,090,866. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Foot Locker

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP acquired a new position in shares of Foot Locker in the 2nd quarter valued at approximately $31,000. Fifth Third Bancorp lifted its stake in Foot Locker by 116.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after acquiring an additional 733 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Foot Locker by 3,004.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock valued at $44,000 after acquiring an additional 1,352 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Foot Locker by 156.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after acquiring an additional 985 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Foot Locker in the 2nd quarter valued at approximately $43,000.

Foot Locker Price Performance

Foot Locker stock opened at $26.95 on Friday. The firm has a market capitalization of $2.55 billion, a P/E ratio of -7.11, a PEG ratio of 0.59 and a beta of 1.44. Foot Locker has a 1 year low of $16.68 and a 1 year high of $35.60. The business has a 50-day moving average of $28.17 and a 200-day moving average of $25.85. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FL shares. Barclays raised Foot Locker from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $27.00 to $34.00 in a report on Thursday, August 29th. StockNews.com raised Foot Locker from a “sell” rating to a “hold” rating in a report on Thursday. Morgan Stanley cut Foot Locker from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $24.00 to $18.00 in a report on Thursday, July 18th. Evercore ISI lifted their price objective on Foot Locker from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, August 26th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $27.00 price objective on shares of Foot Locker in a research report on Wednesday, August 28th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.40.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.