Stock Traders Purchase High Volume of REV Group Put Options (NYSE:REVG)

Thursday, June 10, 2021 | MarketBeat

REV Group, Inc. (NYSE:REVG) was the recipient of unusually large options trading activity on Thursday. Traders purchased 2,050 put options on the stock. This is an increase of 1,714% compared to the typical volume of 113 put options.

In related news, CEO Rodney M. Rushing bought 16,750 shares of the company's stock in a transaction on Monday, March 29th. The stock was bought at an average cost of $17.98 per share, with a total value of $301,165.00. Following the completion of the acquisition, the chief executive officer now owns 948,995 shares in the company, valued at approximately $17,062,930.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.79% of the company's stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pzena Investment Management LLC boosted its holdings in shares of REV Group by 6.0% in the 4th quarter. Pzena Investment Management LLC now owns 4,532,507 shares of the company's stock valued at $39,931,000 after purchasing an additional 257,323 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of REV Group by 50.5% in the 4th quarter. Alliancebernstein L.P. now owns 3,237,651 shares of the company's stock valued at $28,524,000 after purchasing an additional 1,085,688 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of REV Group by 7.6% in the 1st quarter. BlackRock Inc. now owns 2,127,484 shares of the company's stock valued at $40,765,000 after purchasing an additional 150,134 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of REV Group by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,908,616 shares of the company's stock valued at $16,815,000 after purchasing an additional 46,443 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of REV Group by 43.6% in the 1st quarter. Franklin Resources Inc. now owns 1,506,919 shares of the company's stock valued at $28,873,000 after purchasing an additional 457,429 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company's stock.

REVG has been the subject of a number of research analyst reports. TheStreet raised shares of REV Group from a "d+" rating to a "c-" rating in a report on Thursday, March 4th. BMO Capital Markets increased their target price on shares of REV Group from $10.00 to $19.00 and gave the company a "market perform" rating in a report on Friday, March 12th. Morgan Stanley raised their price objective on shares of REV Group from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Zacks Investment Research raised shares of REV Group from a "hold" rating to a "buy" rating and set a $23.00 price objective for the company in a research note on Tuesday, March 16th. Finally, Robert W. Baird raised their price objective on shares of REV Group from $22.00 to $25.00 and gave the stock an "outperform" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of "Hold" and an average target price of $17.17.

NYSE REVG traded down $3.41 during mid-day trading on Thursday, reaching $16.00. 2,162,045 shares of the stock were exchanged, compared to its average volume of 355,449. REV Group has a 1-year low of $5.10 and a 1-year high of $22.23. The firm's fifty day simple moving average is $18.84. The firm has a market capitalization of $1.04 billion, a PE ratio of -50.67 and a beta of 2.71. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.93 and a quick ratio of 0.61.

REV Group (NYSE:REVG) last announced its earnings results on Sunday, June 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.20 by $0.19. REV Group had a negative net margin of 0.93% and a positive return on equity of 3.24%. On average, analysts forecast that REV Group will post 0.88 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Investors of record on Wednesday, June 30th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $0.20 dividend on an annualized basis and a yield of 1.25%.

About REV Group

REV Group, Inc designs, manufactures, and distributes specialty vehicles in the United States, Canada, Europe, Africa, the Middle East, the Latin America, the Caribbean, and internationally. It operates through three segments: Fire & Emergency, Commercial, and Recreation. The Fire & Emergency segment offers various fire apparatus and ambulance products for municipalities and private contractors.

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