Investors Purchase Large Volume of Boot Barn Call Options (NYSE:BOOT)

Boot Barn Holdings, Inc. (NYSE:BOOT) was the target of some unusual options trading activity on Tuesday. Investors purchased 1,202 call options on the stock. This represents an increase of 1,403% compared to the typical volume of 80 call options.

In other news, insider John Hazen sold 752 shares of the business’s stock in a transaction that occurred on Friday, November 27th. The shares were sold at an average price of $42.25, for a total value of $31,772.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Greg Bettinelli sold 2,620 shares of the business’s stock in a transaction that occurred on Tuesday, November 24th. The stock was sold at an average price of $41.89, for a total transaction of $109,751.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,242 shares of company stock valued at $2,780,615. 1.80% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wasatch Advisors Inc. boosted its position in shares of Boot Barn by 47.9% during the 3rd quarter. Wasatch Advisors Inc. now owns 2,981,694 shares of the company’s stock valued at $83,905,000 after acquiring an additional 965,164 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Boot Barn by 3.2% during the 3rd quarter. William Blair Investment Management LLC now owns 1,806,504 shares of the company’s stock valued at $50,835,000 after acquiring an additional 56,843 shares during the last quarter. FMR LLC boosted its position in shares of Boot Barn by 15.9% during the 1st quarter. FMR LLC now owns 1,099,719 shares of the company’s stock valued at $32,376,000 after acquiring an additional 150,763 shares during the last quarter. Summit Creek Advisors LLC lifted its position in Boot Barn by 15.6% in the third quarter. Summit Creek Advisors LLC now owns 609,315 shares of the company’s stock worth $17,146,000 after buying an additional 82,040 shares during the last quarter. Finally, WCM Investment Management LLC lifted its position in Boot Barn by 2.7% in the third quarter. WCM Investment Management LLC now owns 391,321 shares of the company’s stock worth $11,012,000 after buying an additional 10,211 shares during the last quarter.

BOOT has been the subject of a number of recent research reports. Craig Hallum boosted their price objective on shares of Boot Barn from $34.00 to $48.00 and gave the stock a “hold” rating in a report on Monday. Cowen lifted their target price on shares of Boot Barn from $47.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday. Smith Barney Citigroup lifted their target price on shares of Boot Barn from $30.00 to $37.00 in a research note on Thursday, October 29th. Citigroup lifted their target price on shares of Boot Barn from $22.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, October 2nd. Finally, 140166 raised shares of Boot Barn from a “negative” rating to a “neutral” rating and set a $28.00 target price on the stock in a research note on Monday, October 12th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Boot Barn currently has an average rating of “Buy” and a consensus target price of $43.54.

BOOT traded down $2.37 during trading on Wednesday, reaching $54.22. 610,298 shares of the company traded hands, compared to its average volume of 737,019. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 1.36. Boot Barn has a 12-month low of $8.03 and a 12-month high of $57.89. The firm has a fifty day simple moving average of $43.01 and a 200 day simple moving average of $31.64. The company has a market cap of $1.57 billion, a P/E ratio of 44.08, a PEG ratio of 1.83 and a beta of 3.07.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Boot Barn had a net margin of 4.45% and a return on equity of 10.57%. The business had revenue of $184.52 million during the quarter, compared to analyst estimates of $179.22 million. As a group, sell-side analysts expect that Boot Barn will post 1.32 earnings per share for the current fiscal year.

Boot Barn Company Profile

Boot Barn Holdings, Inc, a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing.

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