Investors Purchase Large Volume of Put Options on BJs Wholesale Club (BJ)

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BJs Wholesale Club Holdings Inc (NYSE:BJ) saw unusually large options trading on Monday. Investors acquired 509 put options on the stock. This is an increase of 809% compared to the typical daily volume of 56 put options.

BJ stock opened at $25.30 on Tuesday. BJs Wholesale Club has a 12-month low of $19.31 and a 12-month high of $32.92.

BJs Wholesale Club (NYSE:BJ) last posted its quarterly earnings data on Tuesday, November 20th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.04. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that BJs Wholesale Club will post 0.95 EPS for the current year.

A number of research firms have recently commented on BJ. Zacks Investment Research upgraded BJs Wholesale Club from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Tuesday, October 23rd. Barclays began coverage on BJs Wholesale Club in a research report on Friday, February 1st. They set an “equal weight” rating on the stock. Morgan Stanley dropped their target price on BJs Wholesale Club from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Friday, November 23rd. Wells Fargo & Co reiterated a “hold” rating on shares of BJs Wholesale Club in a report on Wednesday, November 21st. Finally, CIBC initiated coverage on BJs Wholesale Club in a report on Thursday, October 18th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $30.08.

In other BJs Wholesale Club news, EVP Brian Poulliot sold 40,000 shares of the stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $26.25, for a total transaction of $1,050,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher J. Baldwin sold 48,622 shares of the stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $26.00, for a total value of $1,264,172.00. The disclosure for this sale can be found here. Insiders have sold a total of 378,641 shares of company stock worth $9,528,154 over the last ninety days.

A number of hedge funds have recently bought and sold shares of BJ. FMR LLC purchased a new position in BJs Wholesale Club in the 2nd quarter worth approximately $200,102,000. LGT Capital Partners LTD. purchased a new position in BJs Wholesale Club in the 4th quarter worth approximately $831,000. Luminus Management LLC purchased a new position in BJs Wholesale Club in the 3rd quarter worth approximately $2,009,000. Pentwater Capital Management LP lifted its stake in BJs Wholesale Club by 64.1% in the 3rd quarter. Pentwater Capital Management LP now owns 105,000 shares of the company’s stock worth $2,812,000 after purchasing an additional 41,000 shares in the last quarter. Finally, Alpine Global Management LLC purchased a new position in BJs Wholesale Club in the 3rd quarter worth approximately $1,339,000. Institutional investors own 83.04% of the company’s stock.

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BJs Wholesale Club Company Profile

BJ's Wholesale Club Holdings, Inc operates as a warehouse club on the East Coast of the United States. It offers perishable, edible grocery, general merchandise, and non-edible grocery products. The company also sells electronics, computers, office supplies and equipment, home products, health and beauty aids, sporting goods, outdoor living, baby products, toys, and jewelry through Website.

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