Traders Purchase High Volume of DSW Put Options (DSW)

DSW Inc. (NYSE:DSW) saw unusually large options trading on Monday. Investors purchased 2,750 put options on the stock. This is an increase of approximately 2,857% compared to the average volume of 93 put options.

DSW has been the topic of several recent research reports. Deutsche Bank set a $30.00 target price on DSW and gave the company a “hold” rating in a research report on Wednesday, December 12th. B. Riley dropped their target price on DSW from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, December 3rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $30.00 target price (down previously from $34.00) on shares of DSW in a research report on Wednesday, December 12th. Zacks Investment Research cut DSW from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Canaccord Genuity increased their target price on DSW from $27.00 to $28.00 and gave the company a “hold” rating in a research report on Wednesday, December 12th. Thirteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $29.09.

Shares of DSW opened at $22.09 on Wednesday. DSW has a 12 month low of $20.99 and a 12 month high of $34.63. The firm has a market cap of $2.04 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.45 and a beta of 1.13.

DSW (NYSE:DSW) last issued its quarterly earnings data on Tuesday, March 19th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.11). DSW had a net margin of 1.21% and a return on equity of 18.11%. The business had revenue of $843.40 million for the quarter, compared to analysts’ expectations of $842.73 million. During the same quarter in the prior year, the company posted $0.38 EPS. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, sell-side analysts expect that DSW will post 1.75 earnings per share for the current year.

In related news, CEO Roger Rawlins sold 21,463 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $30.26, for a total value of $649,470.38. Following the transaction, the chief executive officer now owns 66,918 shares of the company’s stock, valued at $2,024,938.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 16.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of DSW. Norges Bank purchased a new stake in shares of DSW during the 4th quarter valued at $39,623,000. Renaissance Technologies LLC lifted its holdings in shares of DSW by 335.4% during the 3rd quarter. Renaissance Technologies LLC now owns 885,230 shares of the company’s stock valued at $29,992,000 after purchasing an additional 681,900 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of DSW during the 4th quarter valued at $26,000. Deutsche Bank AG lifted its holdings in shares of DSW by 95.1% during the 3rd quarter. Deutsche Bank AG now owns 1,035,557 shares of the company’s stock valued at $35,082,000 after purchasing an additional 504,828 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of DSW by 119.8% during the 3rd quarter. AQR Capital Management LLC now owns 871,104 shares of the company’s stock valued at $29,513,000 after purchasing an additional 474,783 shares during the last quarter. Hedge funds and other institutional investors own 82.64% of the company’s stock.

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DSW Company Profile

DSW Inc, together with its subsidiaries, operates as a branded footwear and accessories retailer in the United States. The company offers dresses, casual and athletic footwear, and accessories under various brands for women, men, and kids. It also provides handbags, hosiery, jewelry, and other accessories.

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