Stock Traders Purchase Large Volume of Constellium Put Options (CSTM)

Constellium NV (NYSE:CSTM) saw some unusual options trading activity on Thursday. Traders bought 1,000 put options on the stock. This is an increase of 1,199% compared to the typical daily volume of 77 put options.

Institutional investors have recently modified their holdings of the business. Columbus Circle Investors acquired a new position in shares of Constellium in the first quarter worth about $5,208,000. Boussard & Gavaudan Investment Management LLP raised its position in shares of Constellium by 1.1% in the first quarter. Boussard & Gavaudan Investment Management LLP now owns 2,750,788 shares of the industrial products company’s stock worth $28,746,000 after acquiring an additional 30,966 shares during the period. Park West Asset Management LLC acquired a new position in shares of Constellium in the first quarter worth about $43,379,000. Eaton Vance Management acquired a new position in shares of Constellium in the first quarter worth about $3,548,000. Finally, Sound Point Capital Management LP raised its position in shares of Constellium by 105.1% in the first quarter. Sound Point Capital Management LP now owns 1,178,802 shares of the industrial products company’s stock worth $12,790,000 after acquiring an additional 603,990 shares during the period. Institutional investors and hedge funds own 82.51% of the company’s stock.

CSTM has been the topic of several recent research reports. BMO Capital Markets upped their price target on shares of Constellium from $14.00 to $15.00 and gave the company a “hold” rating in a report on Wednesday, July 25th. Jefferies Financial Group set a $16.00 price target on shares of Constellium and gave the company a “buy” rating in a report on Tuesday, July 24th. ValuEngine lowered shares of Constellium from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. Seaport Global Securities raised shares of Constellium from a “neutral” rating to a “buy” rating and upped their price target for the company from $14.00 to $16.00 in a report on Friday, April 27th. Finally, Morgan Stanley upped their price target on shares of Constellium from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday, August 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $16.50.

Shares of Constellium stock opened at $11.25 on Friday. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -35.16 and a beta of 1.05. Constellium has a fifty-two week low of $9.07 and a fifty-two week high of $14.10. The company has a debt-to-equity ratio of -7.55, a current ratio of 1.23 and a quick ratio of 0.66.

Constellium (NYSE:CSTM) last issued its quarterly earnings data on Tuesday, July 24th. The industrial products company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.09. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.48 billion. Constellium had a negative net margin of 0.54% and a negative return on equity of 4.32%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 earnings per share. sell-side analysts predict that Constellium will post 1.05 earnings per share for the current year.

Constellium Company Profile

Constellium N.V. engages in the design, manufacture, and sale of specialty rolled and extruded aluminum products for the aerospace, packaging, and automotive end-markets. The company operates in three segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry.

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