Foot Locker Target of Unusually High Options Trading (NYSE:FL)

Foot Locker, Inc. (NYSE:FL) was the target of some unusual options trading activity on Friday. Traders purchased 17,557 call options on the stock. This represents an increase of 114% compared to the average daily volume of 8,196 call options.

Insider Buying and Selling at Foot Locker

In related news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.93, for a total value of $8,129,955.98. Following the sale, the insider now directly owns 11,146,292 shares of the company’s stock, valued at $367,047,395.56. This trade represents a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 787,566 shares of company stock worth $26,090,866 over the last three months. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Foot Locker

A number of large investors have recently made changes to their positions in FL. Quarry LP purchased a new position in Foot Locker in the 2nd quarter valued at about $31,000. Fifth Third Bancorp increased its position in shares of Foot Locker by 116.0% during the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after purchasing an additional 733 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Foot Locker by 156.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock worth $40,000 after purchasing an additional 985 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Foot Locker in the second quarter valued at about $43,000. Finally, nVerses Capital LLC acquired a new position in shares of Foot Locker during the 3rd quarter worth approximately $47,000.

Foot Locker Stock Down 1.9 %

Foot Locker stock traded down $0.45 during midday trading on Friday, hitting $23.30. 417,322 shares of the company’s stock were exchanged, compared to its average volume of 3,214,948. Foot Locker has a 12 month low of $20.47 and a 12 month high of $35.60. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $24.87 and a two-hundred day moving average of $25.69.

Foot Locker (NYSE:FL) last announced its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. On average, equities research analysts forecast that Foot Locker will post 1.5 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on FL. StockNews.com lowered shares of Foot Locker from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Gordon Haskett started coverage on Foot Locker in a research report on Monday, October 7th. They issued an “accumulate” rating and a $27.00 price target on the stock. Morgan Stanley lowered Foot Locker from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $24.00 to $18.00 in a research report on Thursday, July 18th. Piper Sandler reiterated a “neutral” rating and issued a $30.00 target price on shares of Foot Locker in a research note on Friday, August 23rd. Finally, Robert W. Baird reduced their price target on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Foot Locker presently has a consensus rating of “Hold” and a consensus price target of $26.53.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.