Investors Buy High Volume of Signet Jewelers Call Options (NYSE:SIG)

Thursday, June 10, 2021 | MarketBeat

Signet Jewelers Limited (NYSE:SIG) was the target of some unusual options trading on Thursday. Traders acquired 19,233 call options on the stock. This represents an increase of approximately 1,398% compared to the average volume of 1,284 call options.

Signet Jewelers stock traded up $7.64 during mid-day trading on Thursday, hitting $68.68. The company had a trading volume of 182,700 shares, compared to its average volume of 1,002,007. The stock has a market cap of $3.60 billion, a P/E ratio of -49.25 and a beta of 2.61. Signet Jewelers has a 12-month low of $9.70 and a 12-month high of $68.36. The firm's fifty day moving average is $61.04. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 0.78.

Signet Jewelers (NYSE:SIG) last posted its earnings results on Thursday, June 10th. The company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.96. The firm had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.62 billion. Signet Jewelers had a negative net margin of 0.32% and a positive return on equity of 13.68%. The business's revenue was up 98.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.59) EPS. On average, sell-side analysts expect that Signet Jewelers will post 4.71 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Sei Investments Co. raised its holdings in Signet Jewelers by 21.3% in the 4th quarter. Sei Investments Co. now owns 74,165 shares of the company's stock worth $2,022,000 after purchasing an additional 12,998 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Signet Jewelers during the 4th quarter worth approximately $1,522,000. Hussman Strategic Advisors Inc. purchased a new position in shares of Signet Jewelers during the 1st quarter valued at approximately $1,670,000. World Asset Management Inc purchased a new position in shares of Signet Jewelers during the 1st quarter valued at approximately $347,000. Finally, First Midwest Bank Trust Division acquired a new stake in Signet Jewelers in the 1st quarter valued at $1,692,000. 94.13% of the stock is currently owned by institutional investors and hedge funds.

SIG has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on Signet Jewelers from $50.00 to $57.00 in a report on Tuesday, April 13th. Zacks Investment Research upgraded shares of Signet Jewelers from a "hold" rating to a "strong-buy" rating and set a $66.00 price objective for the company in a research note on Wednesday, April 21st. Finally, Telsey Advisory Group increased their price objective on shares of Signet Jewelers from $60.00 to $70.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 13th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of "Hold" and an average target price of $55.60.

About Signet Jewelers

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Jewelers, Zales Outlet, Piercing Pagoda, and Peoples Jewellers, as well as operates online through JamesAllen.com.

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