Investors Buy Large Volume of JC Penney Company Put Options (JCP)

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12 June, 2017

Covering sell-side analysts have recently weighed in on shares of J. C. Penney Company, Inc. Narrowing in, the stock is at a distance of -22.70% from the 50 day high and 16.79% off of the 50 day low.

The counter witnessed a trading volume of 16.45 million shares versus an average volume of 19.44 million shares during last trading session. BlackRock Inc. now owns 24,704,238 shares of the department store operator's stock valued at $152,179,000 after buying an additional 24,491,676 shares in the last quarter.

J C Penney Company Inc (NYSE:JCP) issued an update on its FY18 earnings guidance on Friday morning. Analysts giving the company a rating of 3 would be indicating a Hold recommendation.

The stock added in the prior trading session by 1.24%, closing at the stock price of $4.89. Traders acquired 9,019 put options on the stock.

Media stories about J C Penney Company (NYSE:JCP) have trended somewhat positive this week, according to AlphaOne Sentiment Analysis. J C Penney Company has a 12-month low of $4.17 and a 12-month high of $11.30. Meadow Creek Investment Management LLC now owns 17,472 shares of the department store operator's stock valued at $108,000 after buying an additional 2,212 shares in the last quarter.

Receive News & Ratings for J C Penney Company Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J C Penney Company Inc and related companies with MarketBeat.com's FREE daily email newsletter. Seven analysts have issued estimates for J C Penney Company's earnings, with the lowest EPS estimate coming in at ($0.03) and the highest estimate coming in at $0.25. Capstone Asset Management Co. boosted its stake in shares of J C Penney Company by 0.9% in the first quarter. The lowest 12-month price target for the shares is $4.00, which would be decrease of about -18% of its current value. Finally, Glen Harbor Capital Management LLC increased its position in J C Penney Company by 14.5% in the first quarter.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Finally, State Treasurer State of MI boosted its stake in shares of J C Penney Company by 0.9% in the first quarter. This is an increase of 515% compared to the average volume of 1,467 put options. During the same period past year, the company earned ($0.22) earnings per share. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.78 billion.

COPYRIGHT VIOLATION WARNING: "J C Penney Company Inc (JCP) Expected to Announce Earnings of $0.10 Per Share" was originally reported by Markets Daily and is the sole property of of Markets Daily. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. and worldwide copyright law. The correct version of this piece of content can be viewed at https://www.thestockobserver.com/2017/06/11/j-c-penney-company-inc-jcp-given-neutral-rating-at-piper-jaffray-companies-updated-updated.html. Hodges Capital Management Inc. now owns 8,414,420 shares of the department store operator's stock valued at $51,833,000 after buying an additional 2,094,485 shares in the last quarter. Robert W. Baird set a $9.00 price objective on shares of J C Penney Company and gave the stock a "buy" rating in a research report on Monday, February 27th. Deutsche Bank AG cut shares of J C Penney Company from a "buy" rating to a "hold" rating and dropped their price target for the company from $9.00 to $5.50 in a research report on Monday, May 15th. Jefferies Group LLC reiterated a "hold" rating on shares of J C Penney Company in a research note on Friday. Northcoast Research restated a "buy" rating on shares of J C Penney Company in a research report on Friday, February 24th. TheStreet downgraded shares of J C Penney Company from a "c-" rating to a "d+" rating in a research report on Wednesday, May 17th. Over the short term, some market observers may have noticed that J. C. Penney Company, Inc. has a 36.52% short float with 15 days to cover. Also, the current price highlights a discount of 208.01% to analysts' high consensus price target. Its department stores and Website generally serve the same type of customers, its Website offers virtually the same mix of merchandise as its store assortment and other categories, and its department stores generally accept returns from sales made in stores and through its Website.


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