Stock Traders Purchase High Volume of Garmin Call Options (GRMN)

Garmin Ltd. (NASDAQ:GRMN) was the recipient of some unusual options trading on Monday. Traders bought 5,177 call options on the stock. This is an increase of approximately 1,409% compared to the average daily volume of 343 call options.

In other news, major shareholder Jonathan Burrell sold 254,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $62.45, for a total value of $15,862,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sean Biddlecombe sold 755 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $60.80, for a total value of $45,904.00. The disclosure for this sale can be found here. Corporate insiders own 18.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Garmin by 1.3% during the 4th quarter. BlackRock Inc. now owns 11,270,906 shares of the scientific and technical instruments company’s stock worth $671,406,000 after acquiring an additional 141,665 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Garmin by 24.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,012,907 shares of the scientific and technical instruments company’s stock worth $119,907,000 after acquiring an additional 393,740 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its position in Garmin by 0.6% during the 4th quarter. Disciplined Growth Investors Inc. MN now owns 1,624,085 shares of the scientific and technical instruments company’s stock worth $96,747,000 after acquiring an additional 9,409 shares during the last quarter. Geode Capital Management LLC grew its position in Garmin by 14.6% during the 4th quarter. Geode Capital Management LLC now owns 1,506,624 shares of the scientific and technical instruments company’s stock worth $89,595,000 after acquiring an additional 191,405 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in Garmin by 12.6% during the 4th quarter. Schroder Investment Management Group now owns 1,460,465 shares of the scientific and technical instruments company’s stock worth $87,000,000 after acquiring an additional 163,211 shares during the last quarter. Institutional investors and hedge funds own 40.57% of the company’s stock.

Several equities research analysts have recently weighed in on the company. BidaskClub upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Zacks Investment Research lowered Garmin from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. ValuEngine upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research note on Friday, December 15th. Finally, Credit Suisse Group reiterated an “underperform” rating and issued a $58.00 price objective (up from $48.00) on shares of Garmin in a research note on Tuesday, December 12th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.71.

Shares of Garmin (NASDAQ GRMN) opened at $65.21 on Tuesday. The company has a market capitalization of $12,226.88, a P/E ratio of 17.77, a P/E/G ratio of 2.63 and a beta of 0.95. Garmin has a 12-month low of $48.50 and a 12-month high of $65.51.

ILLEGAL ACTIVITY WARNING: This piece of content was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another domain, it was illegally copied and reposted in violation of United States & international copyright legislation. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2018/02/20/stock-traders-purchase-high-volume-of-garmin-call-options-grmn.html.

About Garmin

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.

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

Leave a Reply