Stock Traders Buy Large Volume of Put Options on Capri (NYSE:CPRI)

Capri Holdings Limited (NYSE:CPRI) saw unusually large options trading activity on Wednesday. Traders purchased 16,139 put options on the company. This is an increase of 24% compared to the average daily volume of 12,990 put options.

Capri Trading Down 3.0 %

Shares of NYSE CPRI opened at $35.41 on Thursday. The firm’s 50 day moving average price is $44.54 and its 200-day moving average price is $47.78. The company has a market cap of $4.13 billion, a PE ratio of 19.89, a P/E/G ratio of 7.71 and a beta of 2.03. Capri has a 52-week low of $34.17 and a 52-week high of $54.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.49 and a current ratio of 1.06.

Capri (NYSE:CPRI) last issued its quarterly earnings data on Thursday, February 8th. The company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.48 billion. Capri had a net margin of 3.96% and a return on equity of 25.79%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the company earned $1.84 EPS. On average, equities research analysts expect that Capri will post 3.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CPRI shares. Telsey Advisory Group dropped their price objective on shares of Capri from $57.00 to $42.00 and set a “market perform” rating for the company in a report on Tuesday. OTR Global reaffirmed a “mixed” rating on shares of Capri in a report on Wednesday, April 17th. Finally, StockNews.com initiated coverage on shares of Capri in a research note on Saturday, April 13th. They issued a “hold” rating for the company. Thirteen research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.25.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Capri during the 4th quarter valued at about $166,766,000. Alpine Associates Management Inc. acquired a new position in shares of Capri in the 3rd quarter valued at $128,347,000. Westchester Capital Management LLC acquired a new position in shares of Capri in the 3rd quarter valued at $87,352,000. PSquared Asset Management AG acquired a new position in shares of Capri in the 3rd quarter valued at $61,090,000. Finally, Segantii Capital Management Ltd acquired a new position in shares of Capri in the 3rd quarter valued at $52,347,000. 84.34% of the stock is currently owned by institutional investors.

Capri Company Profile

Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia. It operates through three segments: Versace, Jimmy Choo, and Michael Kors. The company offers ready-to-wear, accessories, footwear, handbags, scarves and belts, small leather goods, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques, department, and specialty stores, as well as through e-commerce sites.