Investors Buy Large Volume of Washington Prime Group Put Options (WPG)

Washington Prime Group Inc (NYSE:WPG) was the target of unusually large options trading on Tuesday. Investors purchased 3,910 put options on the stock. This is an increase of 948% compared to the typical daily volume of 373 put options.

In other news, CEO Louis G. Conforti bought 16,286 shares of the company’s stock in a transaction on Thursday, November 15th. The shares were acquired at an average cost of $6.14 per share, with a total value of $99,996.04. Following the completion of the transaction, the chief executive officer now owns 171,858 shares of the company’s stock, valued at approximately $1,055,208.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Louis G. Conforti bought 20,747 shares of the company’s stock in a transaction on Thursday, December 20th. The stock was purchased at an average cost of $4.81 per share, for a total transaction of $99,793.07. Following the completion of the transaction, the chief executive officer now directly owns 171,958 shares of the company’s stock, valued at approximately $827,117.98. The disclosure for this purchase can be found here. Insiders acquired 111,233 shares of company stock worth $620,417 over the last three months. Insiders own 0.41% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue raised its stake in Washington Prime Group by 1.6% during the 4th quarter. State of Alaska Department of Revenue now owns 123,131 shares of the real estate investment trust’s stock valued at $597,000 after purchasing an additional 1,997 shares during the period. Legal & General Group Plc raised its stake in Washington Prime Group by 3.0% during the 3rd quarter. Legal & General Group Plc now owns 1,122,091 shares of the real estate investment trust’s stock valued at $8,199,000 after purchasing an additional 32,263 shares during the period. Nordea Investment Management AB bought a new stake in Washington Prime Group during the 3rd quarter valued at approximately $4,661,000. Teachers Advisors LLC raised its stake in Washington Prime Group by 1.4% during the 3rd quarter. Teachers Advisors LLC now owns 837,294 shares of the real estate investment trust’s stock valued at $6,112,000 after purchasing an additional 11,326 shares during the period. Finally, Bramshill Investments LLC raised its stake in Washington Prime Group by 36.1% during the 3rd quarter. Bramshill Investments LLC now owns 322,376 shares of the real estate investment trust’s stock valued at $2,353,000 after purchasing an additional 85,471 shares during the period. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently commented on the company. Zacks Investment Research raised Washington Prime Group from a “sell” rating to a “hold” rating in a research note on Saturday, December 15th. Goldman Sachs Group downgraded Washington Prime Group from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $6.60 to $4.30 in a research note on Tuesday, December 18th. Finally, SunTrust Banks downgraded Washington Prime Group from a “hold” rating to a “sell” rating and set a $5.20 price objective on the stock. in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company has an average rating of “Sell” and an average price target of $5.17.

NYSE WPG opened at $5.28 on Thursday. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.65 and a current ratio of 0.65. Washington Prime Group has a 52 week low of $4.63 and a 52 week high of $8.44. The stock has a market capitalization of $982.47 million, a PE ratio of 3.24 and a beta of 0.99.

TRADEMARK VIOLATION WARNING: This article was first reported by WKRB News and is the sole property of of WKRB News. If you are reading this article on another publication, it was illegally copied and reposted in violation of international copyright and trademark legislation. The original version of this article can be read at https://www.wkrb13.com/2019/01/17/investors-buy-large-volume-of-washington-prime-group-put-options-wpg.html.

About Washington Prime Group

Washington Prime Group Inc is a retail REIT and a recognized leader in the ownership, management, acquisition and development of retail properties. The Company combines a national real estate portfolio with an investment grade balance sheet, leveraging its expertise across the entire shopping center sector to increase cash flow through rigorous management of assets and provide new opportunities to retailers looking for growth throughout the U.S.

Read More: Understanding Market Liquidity

Receive News & Ratings for Washington Prime Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Washington Prime Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply