Stock traders buy a large number of JOANN put options. (NASDAQ:JOAN)
On Thursday, there was a noticeable increase from the typical level of options activity volume for JoAnn Inc. (NASDAQ: JOAN-Get Rating). Market participants who participated in the transaction purchased 2,948 options on the company. This represents a 2,100% increase over the typical volume of 134 put options traded.
Recent events have caused several institutional investors and hedge funds to adjust the percentage of company shares they hold. During the second quarter, Goldman Sachs Group Inc. increased the number of JOANN shares held by 22.2% compared to the previous quarter. Due to the purchase of 3,014 additional shares in the last fiscal quarter, Goldman Sachs Group Inc. now owns 16,595 shares of the company, or $129,000. This brings the total number of shares held by the company to an all-time high. During the second quarter, Crawford Investment Counsel Inc. increased the percentage of JOANN shares it held by 30.8% over the prior quarter. Crawford Investment Counsel Inc. now owns 401,872 shares of the company after purchasing an additional 94,640 shares during the quarter. The value of the shares held by Crawford Investment Counsel Inc. is $3,115,000. During the second quarter, State Street Corporation increased the percentage of shares held by JoAnn by 1.4%. Since the end of the previous quarter, State Street Corporation has acquired an additional 3,007 shares, bringing the total number of shares it holds to 213,679. This brings the total value of its holdings to $1,656,000 and 213,679 shares. During the second quarter, the value of the interests held by Intrinsic Edge Capital Management LLC in JOANN increased by $2,155,000. And finally, during the second quarter, Rhumbline Advisers increased the number of JOANN shares it owned by 50.3%. Rhumbline Advisers increased its stake in the company’s shares by an additional 5,376 shares during the period, bringing its total to 16,061 shares of the company, worth $124,000. During the period in question, Rhumbline Advisers increased its equity stake by an additional 5,376 shares. Institutional investors control 95.20% of the company’s shares.
On September 8, Director Equity Investors CFLP Green sold 7,812 shares of the company. That same day, other things happened. The sale of shares generated total revenue of $65,855.16, with the average price that each share was able to earn being $8.43. Following completion of the transaction, the administrator now owns 59,280 shares of the company, which have a present value of $499,730.40 each. If you follow this link, you will be redirected to a document filed with the Securities and Exchange Commission (SEC). The document contains a detailed explanation of the transaction reported to the SEC. In the previous three months, company insiders sold 8,139 shares of the company for a total of $68,445. Accordingly, insiders hold the total number of shares of the company at 71.10%.
Several analysts who focus on stock analysis have given their opinion on JOAN stock by giving their opinion on the company’s stock. Bank of America’s recommendation for JOANN was changed from “neutral” to “underperforming” in a report released Aug. 31. On Friday, September 2, Wells Fargo & Company released a research note in which they announced a reduction in the target price of their JOANN stock from $5.00 to $4.00 and categorized the stock as ” equal weight”. In a research report published on Wednesday, June 29, Loop Capital downgraded JOANN from a “buy” rating to a “hold” rating in a research report. The company also reduced its price target for the company from $10.00 to $8.00. The recent financial performance of the company served as the impetus for these two actions taken by the company. Only two equity research analysts suggested selling the stock, while the other five suggested holding the stock. According to data obtained from MarketBeat.com, the company is currently classified as having a “Hold” rating and the price target assigned to it is, according to consensus, $6.50.
On Friday, JOAN’s price fell $0.21 to $4.68. The total number of shares traded was 5,133, significantly lower than the daily volume of 128,570 shares. JOANN stock price has ranged from $4.64 to $13.55 over the past 52 weeks. This company has a current ratio of 1.47, a quick ratio of 0.17 and a debt ratio of 19.77. The current ratio is 1.47, the quick ratio is 0.17 and the debt ratio is 19.77. The company’s beta value is 1.20 and its price/earnings ratio is -3.47. The value of the company, determined by the market, is $190.90 million. The moving average for the stock over the past 50 days is $8.03 and the moving average over the past 200 days is $8.74.
On September 1, JOANN (NASDAQ: JOAN-Get Rating) shared its fiscal last quarter results with the public. Actual earnings per share generated by the company for the quarter came in at $0.78, down $0.06 from the consensus earnings per share forecast of $0.72 for the quarter. JOANN had a return on equity of 32.67%, while the company had a negative net margin of 2.41%. The actual revenue the company reported for the quarter was $463.30 million, which is higher than the projected revenue of $449.87 million expected for the company in the quarter. The company posted a loss of $0.20 per share in the same quarter as a year earlier. The company’s revenue decline was 6.8% lower than the prior year. Sell-side analysts expect JOANN to suffer a loss of $0.03 per share in the current fiscal year.