Traders Purchase High Volume of Call Options on Shoe Carnival (SCVL)

Shoe Carnival, Inc. (NASDAQ:SCVL) was the recipient of some unusual options trading on Wednesday. Stock investors bought 1,434 call options on the company. This is an increase of approximately 1,738% compared to the average daily volume of 78 call options.

In related news, Director Jeffrey C. Gerstel sold 1,200 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $36.50, for a total value of $43,800.00. Following the completion of the transaction, the director now owns 5,526 shares of the company’s stock, valued at $201,699. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 23.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SCVL. NumerixS Investment Technologies Inc bought a new stake in shares of Shoe Carnival in the 1st quarter worth approximately $60,000. Smith Asset Management Group LP bought a new stake in shares of Shoe Carnival in the 4th quarter worth approximately $69,000. Advisor Group Inc. lifted its holdings in shares of Shoe Carnival by 1,066.1% in the 4th quarter. Advisor Group Inc. now owns 2,134 shares of the company’s stock worth $71,000 after purchasing an additional 1,951 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Shoe Carnival by 232.3% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,044 shares of the company’s stock worth $102,000 after purchasing an additional 2,128 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Shoe Carnival in the 4th quarter worth approximately $111,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

SCVL has been the topic of a number of research analyst reports. BidaskClub downgraded Shoe Carnival from a “buy” rating to a “hold” rating in a report on Friday, February 8th. ValuEngine downgraded Shoe Carnival from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Wedbush reaffirmed an “outperform” rating and set a $47.00 target price on shares of Shoe Carnival in a report on Monday, March 18th. Pivotal Research reaffirmed a “buy” rating and set a $45.00 target price on shares of Shoe Carnival in a report on Wednesday, March 20th. Finally, Zacks Investment Research downgraded Shoe Carnival from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Shoe Carnival has an average rating of “Hold” and a consensus price target of $40.80.

NASDAQ:SCVL opened at $27.16 on Friday. Shoe Carnival has a 52 week low of $25.50 and a 52 week high of $45.00. The company has a market cap of $447.93 million, a price-to-earnings ratio of 11.09 and a beta of 0.76.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.06). The company had revenue of $253.80 million during the quarter, compared to the consensus estimate of $259.24 million. Shoe Carnival had a return on equity of 12.42% and a net margin of 3.70%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the business posted $0.83 EPS. On average, sell-side analysts expect that Shoe Carnival will post 2.67 earnings per share for the current year.

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About Shoe Carnival

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, scarves, and wallets.

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