Columbia Sportswear Sees Unusually Large Options Volume (NASDAQ:COLM)

Columbia Sportswear (NASDAQ:COLM) was the target of unusually large options trading on Tuesday. Stock investors purchased 800 call options on the company. This represents an increase of 981% compared to the typical daily volume of 74 call options.

In other news, major shareholder Gertrude Boyle Trust sold 90,255 shares of Columbia Sportswear stock in a transaction on Monday, November 18th. The stock was sold at an average price of $92.36, for a total transaction of $8,335,951.80. Following the transaction, the insider now owns 9,014,559 shares in the company, valued at $832,584,669.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sarah Bany sold 52,500 shares of Columbia Sportswear stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $90.27, for a total value of $4,739,175.00. Following the transaction, the director now owns 1,154,136 shares in the company, valued at approximately $104,183,856.72. The disclosure for this sale can be found here. Insiders sold a total of 540,000 shares of company stock worth $49,419,456 over the last 90 days. Insiders own 56.57% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tocqueville Asset Management L.P. bought a new stake in shares of Columbia Sportswear in the 4th quarter valued at approximately $1,371,000. Brasada Capital Management LP grew its holdings in shares of Columbia Sportswear by 18.6% in the 4th quarter. Brasada Capital Management LP now owns 6,700 shares of the textile maker’s stock valued at $671,000 after acquiring an additional 1,051 shares in the last quarter. Bath Savings Trust Co bought a new position in shares of Columbia Sportswear in the 4th quarter valued at about $206,000. State of Alaska Department of Revenue grew its holdings in shares of Columbia Sportswear by 1,039.6% in the 4th quarter. State of Alaska Department of Revenue now owns 4,775 shares of the textile maker’s stock valued at $478,000 after acquiring an additional 4,356 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY grew its holdings in shares of Columbia Sportswear by 82.5% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 1,670 shares of the textile maker’s stock valued at $162,000 after acquiring an additional 755 shares in the last quarter. 37.73% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:COLM traded down $0.72 on Wednesday, reaching $96.86. The company had a trading volume of 8,229 shares, compared to its average volume of 336,599. Columbia Sportswear has a twelve month low of $81.01 and a twelve month high of $109.74. The stock has a 50-day moving average price of $96.55 and a 200 day moving average price of $97.10. The stock has a market capitalization of $6.59 billion, a P/E ratio of 24.16, a P/E/G ratio of 1.74 and a beta of 0.64. The company has a quick ratio of 1.76, a current ratio of 3.04 and a debt-to-equity ratio of 0.21.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Wednesday, October 30th. The textile maker reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.20. Columbia Sportswear had a return on equity of 19.14% and a net margin of 10.97%. The company had revenue of $906.80 million during the quarter, compared to analysts’ expectations of $883.31 million. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, sell-side analysts predict that Columbia Sportswear will post 4.72 earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on the company. BidaskClub downgraded Columbia Sportswear from a “hold” rating to a “sell” rating in a report on Tuesday. Wedbush reiterated an “outperform” rating on shares of Columbia Sportswear in a report on Monday, October 7th. Zacks Investment Research upgraded Columbia Sportswear from a “hold” rating to a “strong-buy” rating and set a $106.00 price target on the stock in a report on Monday, October 21st. Pivotal Research lowered their price target on Columbia Sportswear from $125.00 to $117.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, DA Davidson downgraded Columbia Sportswear from a “buy” rating to a “neutral” rating and lowered their price target for the company from $129.00 to $96.00 in a report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $116.17.

About Columbia Sportswear

Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East and Africa, and Canada. The company provides apparel, accessories, and equipment that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.

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