Stock traders buy high volume call options on Rover Group (NASDAQ:ROVR)


Rover Group, Inc. (NASDAQ:ROVR – Get Rating) saw some unusual options trading on Wednesday. Investors acquired 17,748 call options on the company. This is an increase of approximately 6,623% from the typical daily volume of 264 call options.

Shares of NASDAQ ROVR opened at $6.07 on Thursday. Rover Group has a 52-week minimum of $4.27 and a 52-week maximum of $15.59. The company has a fifty-day moving average of $5.47 and a 200-day moving average of $8.45.

Rover Group (NASDAQ:ROVR – Get Rating) last reported quarterly earnings data on Monday, March 7. The company reported ($0.03) earnings per share (EPS) for the quarter, missing Thomson Reuters consensus estimate of ($0.02) by ($0.01). The company posted revenue of $38.00 million for the quarter, versus a consensus estimate of $36.50 million. Rover Group revenue increased by 187.9% compared to the same quarter last year. As a group, sell-side analysts expect Rover Group to post -0.06 EPS for the current financial year.

Several research analysts have recently published reports on the company. Canaccord Genuity Group cut its price target on Rover Group from $14.00 to $8.00 and set a “buy” rating for the company in a Tuesday, March 8 research report. Canaccord Genuity Group cut its price target on Rover Group from $18.00 to $14.00 and set a “buy” rating for the company in a Monday, February 28 report. JMP Securities cut its price target on Rover Group from $15.00 to $11.00 and set a “market outperformance” rating for the company in a Tuesday, March 8 report. DA Davidson reduced its price target on Rover Group from $17.00 to $8.00 in a Wednesday, March 9 report. Finally, Morgan Stanley cut its price target on Rover Group from $10.00 to $6.00 and set an “equal weight” rating for the company in a Tuesday, March 8 report. Two research analysts gave the stock a hold rating and six gave the company a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $11.50.

In other news, COO Brenton R. Turner sold 13,986 shares of the company in a trade that took place on Thursday, March 10. The stock was sold at an average price of $4.96, for a total transaction of $69,370.56. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, CEO Aaron Easterly sold 12,189 shares of the company in a trade that took place on Thursday, March 10. The stock was sold at an average price of $4.96, for a total value of $60,457.44. The disclosure of this sale can be found here. Insiders sold a total of 29,750 shares of the company worth $147,560 in the past ninety days.

Several hedge funds and other institutional investors have recently changed their positions in ROVR. Victory Capital Management Inc. purchased a new stake in shares of Rover Group during Q3 for $231,000. Parallel Advisors LLC purchased a new stake in Rover Group during Q3 for $39,000. Advisor Group Holdings Inc. purchased a new stake in Rover Group during Q3 for $40,000. BlackRock Inc. acquired a new stake in Rover Group during Q3 valued at $13,404,000. Finally, Levin Capital Strategies LP acquired a new stake in Rover Group during the 3rd quarter at a value of $388,000. 60.14% of the shares are held by institutional investors.

About Rover Group (Get a rating)

Rover Group, Inc operates an online marketplace for pet care worldwide. It connects pet owners with pet providers who offer overnight services, including boarding and in-home pet sitting, as well as daytime services, such as dog daycare, dog walking, walk-ins, grooming and training. The company is headquartered in Seattle, Washington.

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