Stock Traders Buy High Volume of Santander Consumer USA Put Options (NYSE:SC)

Santander Consumer USA Holdings Inc (NYSE:SC) saw unusually large options trading on Thursday. Stock investors bought 2,088 put options on the stock. This represents an increase of 640% compared to the average daily volume of 282 put options.

Several brokerages have weighed in on SC. Buckingham Research initiated coverage on Santander Consumer USA in a report on Monday. They issued a “neutral” rating and a $24.00 price objective for the company. Compass Point cut Santander Consumer USA from a “buy” rating to a “neutral” rating in a report on Monday, May 6th. Piper Jaffray Companies reissued a “neutral” rating and set a $24.00 price target on shares of Santander Consumer USA in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. raised Santander Consumer USA from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $20.00 to $23.00 in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $24.42.

In other Santander Consumer USA news, insider Richard Morrin sold 17,422 shares of Santander Consumer USA stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $21.22, for a total value of $369,694.84. Following the completion of the transaction, the insider now directly owns 59,203 shares of the company’s stock, valued at approximately $1,256,287.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sunil Sajnani sold 1,604 shares of Santander Consumer USA stock in a transaction on Monday, March 25th. The shares were sold at an average price of $20.32, for a total value of $32,593.28. Following the completion of the transaction, the insider now directly owns 26,231 shares of the company’s stock, valued at $533,013.92. The disclosure for this sale can be found here. Insiders have sold a total of 19,561 shares of company stock valued at $414,074 over the last quarter. 0.09% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. First Mercantile Trust Co. grew its position in shares of Santander Consumer USA by 105.6% in the 4th quarter. First Mercantile Trust Co. now owns 2,940 shares of the financial services provider’s stock valued at $52,000 after buying an additional 1,510 shares during the last quarter. Enlightenment Research LLC bought a new stake in shares of Santander Consumer USA in the 4th quarter valued at about $56,000. Coastal Investment Advisors Inc. bought a new stake in shares of Santander Consumer USA in the 1st quarter valued at about $86,000. Nisa Investment Advisors LLC bought a new stake in shares of Santander Consumer USA in the 1st quarter valued at about $169,000. Finally, HRT Financial LLC bought a new stake in shares of Santander Consumer USA in the 4th quarter valued at about $182,000.

Shares of SC stock opened at $23.36 on Friday. The firm has a market cap of $8.21 billion, a P/E ratio of 9.15, a PEG ratio of 1.26 and a beta of 1.00. Santander Consumer USA has a twelve month low of $16.10 and a twelve month high of $23.58.

Santander Consumer USA (NYSE:SC) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.16 billion. Santander Consumer USA had a return on equity of 12.95% and a net margin of 12.56%. Santander Consumer USA’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. On average, analysts forecast that Santander Consumer USA will post 2.65 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 10th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, May 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.42%. Santander Consumer USA’s dividend payout ratio is currently 31.50%.

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About Santander Consumer USA

Santander Consumer USA Holdings Inc, a specialized consumer finance company, provides vehicle finance and third-party servicing in the United States. Its products and services include retail installment contracts and vehicle leases, as well as dealer loans for inventory, construction, real estate, working capital, and revolving lines of credit.

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