JOANN Target of Unusually High Options Trading (NASDAQ:JOAN)

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JOANN Inc. (NASDAQ:JOANGet Rating) saw unusually large options trading activity on Thursday. Stock traders acquired 2,948 put options on the stock. This is an increase of approximately 2,100% compared to the average volume of 134 put options.

NASDAQ:JOAN opened at $8.57 on Friday. The company has a debt-to-equity ratio of 8.10, a quick ratio of 0.11 and a current ratio of 1.52. The company has a fifty day moving average of $9.43 and a two-hundred day moving average of $10.37. The stock has a market capitalization of $348.52 million, a PE ratio of 77.92 and a beta of 1.22. JOANN has a fifty-two week low of $6.23 and a fifty-two week high of $16.65.

JOANN (NASDAQ:JOANGet Rating) last posted its quarterly earnings data on Thursday, June 2nd. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.29). The company had revenue of $498.00 million for the quarter, compared to analyst estimates of $517.09 million. JOANN had a return on equity of 44.49% and a net margin of 0.28%. The business’s revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 earnings per share. Research analysts forecast that JOANN will post 0.98 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 10th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date of this dividend is Thursday, June 9th. JOANN’s payout ratio is 400.04%.

JOAN has been the subject of several research reports. Telsey Advisory Group decreased their price objective on shares of JOANN from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Friday, June 3rd. Loop Capital decreased their target price on shares of JOANN from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, June 3rd. Guggenheim cut shares of JOANN from a “buy” rating to a “neutral” rating in a research note on Monday, March 21st. Bank of America cut shares of JOANN from a “buy” rating to a “neutral” rating and decreased their target price for the company from $20.00 to $8.00 in a research note on Friday, June 3rd. Finally, Barclays decreased their target price on shares of JOANN from $9.00 to $5.00 and set an “underweight” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.71.

In other JOANN news, Director Darrell Webb sold 94,568 shares of JOANN stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $12.50, for a total transaction of $1,182,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 97,575 shares of company stock worth $1,218,014. 71.10% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors grew its holdings in shares of JOANN by 13.4% during the third quarter. Capital Research Global Investors now owns 2,729,250 shares of the company’s stock worth $30,404,000 after buying an additional 323,517 shares in the last quarter. Royce & Associates LP grew its holdings in shares of JOANN by 117.3% during the first quarter. Royce & Associates LP now owns 1,718,356 shares of the company’s stock worth $19,606,000 after buying an additional 927,506 shares in the last quarter. BlackRock Inc. grew its holdings in shares of JOANN by 12.2% in the fourth quarter. BlackRock Inc. now owns 675,022 shares of the company’s stock valued at $7,007,000 after purchasing an additional 73,416 shares during the period. Vanguard Group Inc. grew its holdings in shares of JOANN by 1.5% in the first quarter. Vanguard Group Inc. now owns 665,831 shares of the company’s stock valued at $7,597,000 after purchasing an additional 10,037 shares during the period. Finally, Brown Advisory Inc. grew its holdings in shares of JOANN by 2.3% in the first quarter. Brown Advisory Inc. now owns 404,689 shares of the company’s stock valued at $4,618,000 after purchasing an additional 9,220 shares during the period. 95.63% of the stock is owned by institutional investors and hedge funds.

JOANN Company Profile (Get Rating)

JOANN Inc operates as a specialty retailer of sewing and fabrics, and arts and crafts category products in the United States. Its products in sewing category include cotton fabrics; warm fabrics, such as fleece and flannel fabrics; home decorating and utility fabrics and accessories; fashion and sportswear fabrics; special occasion fabrics; seasonally themed and licensed fabric designs; and sewing construction supplies comprising cutting implements, threads, zippers, trims, tapes, pins, elastic, and buttons, as well as patterns for sewing projects.

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