Traders Buy Large Volume of Call Options on J.C. Penney Company, Inc. Holding (JCP)

J.C. Penney Company, Inc. Holding Company (NYSE:JCP) was the recipient of some unusual options trading activity on Monday. Stock traders bought 25,865 call options on the stock. This represents an increase of 350% compared to the typical daily volume of 5,751 call options.

Hedge funds have recently modified their holdings of the stock. Horrell Capital Management Inc. increased its stake in shares of J.C. Penney Company, Inc. Holding by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,360 shares of the department store operator’s stock worth $169,000 after buying an additional 100 shares during the period. World Asset Management Inc increased its stake in shares of J.C. Penney Company, Inc. Holding by 0.7% in the first quarter. World Asset Management Inc now owns 23,122 shares of the department store operator’s stock worth $142,000 after buying an additional 153 shares during the period. Capstone Asset Management Co. increased its stake in shares of J.C. Penney Company, Inc. Holding by 0.9% in the first quarter. Capstone Asset Management Co. now owns 35,644 shares of the department store operator’s stock worth $220,000 after buying an additional 320 shares during the period. Blair William & Co. IL increased its stake in shares of J.C. Penney Company, Inc. Holding by 3.1% in the second quarter. Blair William & Co. IL now owns 33,625 shares of the department store operator’s stock worth $156,000 after buying an additional 1,000 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. increased its stake in shares of J.C. Penney Company, Inc. Holding by 0.7% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 140,009 shares of the department store operator’s stock worth $862,000 after buying an additional 1,007 shares during the period. Hedge funds and other institutional investors own 77.17% of the company’s stock.

Shares of J.C. Penney Company, Inc. Holding (JCP) opened at 5.16 on Thursday. The company’s 50-day moving average is $4.93 and its 200 day moving average is $5.62. The company’s market cap is $1.60 billion. J.C. Penney Company, Inc. Holding has a 52-week low of $4.17 and a 52-week high of $11.30.

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

Several equities analysts have commented on the stock. B. Riley reiterated a “neutral” rating and issued a $5.70 price objective on shares of J.C. Penney Company, Inc. Holding in a report on Monday, May 15th. Piper Jaffray Companies set a $5.00 price objective on shares of J.C. Penney Company, Inc. Holding and gave the company a “hold” rating in a report on Saturday, May 13th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of J.C. Penney Company, Inc. Holding in a report on Saturday, May 13th. UBS AG reiterated a “sell” rating and issued a $4.00 price objective (down from $5.00) on shares of J.C. Penney Company, Inc. Holding in a report on Wednesday, May 17th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $5.00 price objective on shares of J.C. Penney Company, Inc. Holding in a report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $6.49.

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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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