Hasbro Sees Unusually Large Options Volume (NASDAQ:HAS)

Key Points

• Hasbro saw an unusual surge in bearish options activity: Traders purchased 10,354 put options, 583% above the average daily volume of 1,515.
• Hasbro shares traded around $98.90, while the company reported quarterly EPS of $1.28 and revenue of $1.14 billion, exceeding analyst expectations; revenue rose 16.2% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $110.64, although insiders have sold 50,472 shares worth approximately $4.7 million over the past 90 days.

Hasbro, Inc. (NASDAQ:HAS - Get Free Report) was the recipient of some unusual options trading on Monday. Stock traders acquired 10,354 put options on the stock. This is an increase of 583% compared to the average daily volume of 1,515 put options.

Hasbro Price Performance

Hasbro stock traded up $0.14 during midday trading on Monday, reaching $98.90. 1,439,809 shares of the company were exchanged, compared to its average volume of 1,909,792. The company has a market capitalization of $13.95 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.71 and a beta of 0.45. The firm's 50-day simple moving average is $92.34 and its 200-day simple moving average is $89.86. Hasbro has a 1 year low of $69.50 and a 1 year high of $106.98. The company has a debt-to-equity ratio of 4.16, a quick ratio of 1.46 and a current ratio of 1.66.

Hasbro (NASDAQ:HAS - Get Free Report) last released its earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.12. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The firm's quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 EPS. On average, analysts anticipate that Hasbro will post 6.14 EPS for the current year.

Insider Transactions at Hasbro

In other Hasbro news, insider John Hight sold 3,186 shares of the business's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $93.71, for a total transaction of $298,560.06. Following the sale, the insider directly owned 67,557 shares in the company, valued at approximately $6,330,766.47. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy J. Kilpin sold 20,000 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $93.12, for a total value of $1,862,400.00. Following the completion of the sale, the insider directly owned 54,229 shares in the company, valued at $5,049,804.48. This trade represents a 26.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 50,472 shares of company stock worth $4,736,533 over the last ninety days. 0.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Hasbro

A number of hedge funds have recently bought and sold shares of HAS. Mather Group LLC. lifted its position in shares of Hasbro by 19.9% during the third quarter. Mather Group LLC. now owns 704 shares of the company's stock worth $62,000 after purchasing an additional 117 shares during the last quarter. Marathon Mission Inc. grew its stake in Hasbro by 1.4% in the second quarter. Marathon Mission Inc. now owns 9,152 shares of the company's stock worth $756,000 after purchasing an additional 128 shares in the last quarter. Severin Investments LLC grew its stake in Hasbro by 3.1% in the first quarter. Severin Investments LLC now owns 4,595 shares of the company's stock worth $430,000 after purchasing an additional 137 shares in the last quarter. Root Financial Partners LLC increased its holdings in Hasbro by 21.3% in the first quarter. Root Financial Partners LLC now owns 780 shares of the company's stock valued at $73,000 after buying an additional 137 shares during the last quarter. Finally, Tema ETFs LLC increased its holdings in Hasbro by 7.1% in the second quarter. Tema ETFs LLC now owns 2,183 shares of the company's stock valued at $180,000 after buying an additional 145 shares during the last quarter. Institutional investors and hedge funds own 91.83% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on HAS shares. Argus lifted their price target on Hasbro from $90.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Wall Street Zen cut shares of Hasbro from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Jefferies Financial Group lowered their price objective on shares of Hasbro from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, July 16th. Citigroup raised their target price on shares of Hasbro from $107.00 to $117.00 and gave the company a "buy" rating in a report on Tuesday, October 13th. Finally, BNP Paribas Exane cut their target price on shares of Hasbro from $117.00 to $114.00 and set an "outperform" rating for the company in a research report on Wednesday, July 15th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $110.64.

About Hasbro

Hasbro, Inc is a global branded entertainment company that develops and markets toys, games, entertainment experiences and consumer products. Its portfolio includes well-known brands such as Monopoly, Play-Doh, Transformers, Nerf, My Little Pony, Dungeons & Dragons and Magic: The Gathering.

The company serves consumers through a range of channels, including retail, e-commerce, digital gaming, entertainment content and licensing. Hasbro also works with third-party partners to extend its brands into film and television, apparel, publishing and other consumer products.

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