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

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

JOAN has been the topic of several analyst reports. Zacks Investment Research downgraded JOANN from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 23rd. Piper Sandler downgraded JOANN from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $12.00 to $11.00 in a report on Friday, March 18th. Barclays dropped their target price on JOANN from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Monday, March 21st. Guggenheim downgraded JOANN from a “buy” rating to a “neutral” rating in a report on Monday, March 21st. Finally, Loop Capital raised their target price on JOANN from $13.00 to $15.00 in a report on Friday, March 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.14.

In other news, Director Darrell Webb sold 94,568 shares of the firm’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $12.50, for a total value of $1,182,100.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 97,575 shares of company stock worth $1,218,014.

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its position in shares of JOANN by 18.2% in the 3rd quarter. Geode Capital Management LLC now owns 226,854 shares of the company’s stock worth $2,527,000 after acquiring an additional 34,982 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of JOANN by 964.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 123,430 shares of the company’s stock worth $1,375,000 after acquiring an additional 111,830 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of JOANN in the 3rd quarter worth approximately $390,000. J.W. Cole Advisors Inc. acquired a new position in JOANN during the 4th quarter valued at approximately $131,000. Finally, International Assets Investment Management LLC boosted its position in JOANN by 29.2% during the 3rd quarter. International Assets Investment Management LLC now owns 27,400 shares of the company’s stock valued at $305,000 after purchasing an additional 6,200 shares during the period. Institutional investors own 94.90% of the company’s stock.

JOAN stock opened at $10.53 on Friday. The company has a quick ratio of 0.11, a current ratio of 1.25 and a debt-to-equity ratio of 5.20. JOANN has a 52-week low of $8.51 and a 52-week high of $17.50. The stock’s 50 day moving average is $11.65 and its two-hundred day moving average is $10.86. The company has a market capitalization of $427.45 million and a PE ratio of 7.80.

JOANN (NASDAQ:JOANGet Rating) last posted its quarterly earnings data on Thursday, March 17th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.28. JOANN had a return on equity of 62.50% and a net margin of 2.35%. The company had revenue of $735.30 million for the quarter, compared to the consensus estimate of $752.33 million. JOANN’s quarterly revenue was down 12.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that JOANN will post 1.01 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 8th. Stockholders of record on Friday, March 25th were given a $0.11 dividend. This is a positive change from JOANN’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, March 24th. This represents a $0.44 annualized dividend and a dividend yield of 4.18%. JOANN’s dividend payout ratio (DPR) is presently 32.59%.

About JOANN (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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