Sothebys Target of Unusually Large Options Trading (BID)

Sothebys (NYSE:BID) was the recipient of some unusual options trading on Monday. Investors acquired 1,098 call options on the stock. This is an increase of 637% compared to the typical volume of 149 call options.

Shares of Sothebys (NYSE BID) traded up $1.01 during mid-day trading on Wednesday, reaching $47.89. The company’s stock had a trading volume of 384,582 shares, compared to its average volume of 345,122. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.62 and a current ratio of 1.73. Sothebys has a 12 month low of $39.42 and a 12 month high of $57.95. The firm has a market capitalization of $2,539.04, a P/E ratio of 24.52 and a beta of 1.81.

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Sothebys by 9.9% during the second quarter. Vanguard Group Inc. now owns 3,974,106 shares of the specialty retailer’s stock worth $213,290,000 after buying an additional 356,603 shares during the period. BlackRock Inc. boosted its position in shares of Sothebys by 1.3% during the fourth quarter. BlackRock Inc. now owns 3,921,869 shares of the specialty retailer’s stock worth $202,368,000 after buying an additional 50,971 shares during the period. Alliancebernstein L.P. boosted its position in shares of Sothebys by 5.7% during the fourth quarter. Alliancebernstein L.P. now owns 3,730,808 shares of the specialty retailer’s stock worth $192,510,000 after buying an additional 202,227 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Sothebys by 6.7% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,600,000 shares of the specialty retailer’s stock worth $82,560,000 after buying an additional 100,000 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Sothebys by 13.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,446,850 shares of the specialty retailer’s stock worth $74,657,000 after buying an additional 176,093 shares during the period. Institutional investors own 94.01% of the company’s stock.

Several analysts recently weighed in on the company. Zacks Investment Research raised Sothebys from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Monday, February 5th. Aegis initiated coverage on Sothebys in a report on Monday, October 30th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, TheStreet downgraded Sothebys from a “b” rating to a “c+” rating in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $59.25.

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Sothebys Company Profile

Sotheby’s is a global art business company. The Company is engaged in offering its clients opportunities to connect with and transact in a range of objects. The Company offers a range of art-related services, including the brokerage of private art sales, private jewelry sales through Sotheby’s Diamonds, private selling exhibitions at its galleries, art-related financing, and art advisory services, as well as retail wine locations in New York and Hong Kong.

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