Traders Purchase High Volume of Put Options on American Axle & Manufact. (NYSE:AXL)

American Axle & Manufact. Holdings, Inc. (NYSE:AXL) saw unusually large options trading activity on Thursday. Investors purchased 9,755 put options on the stock. This represents an increase of 3,027% compared to the average daily volume of 312 put options.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its holdings in American Axle & Manufact. by 621.4% in the third quarter. Tower Research Capital LLC TRC now owns 3,239 shares of the auto parts company’s stock worth $27,000 after purchasing an additional 2,790 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in American Axle & Manufact. during the second quarter valued at $30,000. Quadrant Capital Group LLC boosted its holdings in shares of American Axle & Manufact. by 4,976.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 4,366 shares of the auto parts company’s stock valued at $35,000 after buying an additional 4,280 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of American Axle & Manufact. by 27.0% during the 2nd quarter. Advisory Services Network LLC now owns 6,043 shares of the auto parts company’s stock valued at $77,000 after buying an additional 1,284 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of American Axle & Manufact. in the 3rd quarter worth about $83,000. Institutional investors own 99.42% of the company’s stock.

Shares of AXL stock opened at $9.49 on Friday. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.45 and a current ratio of 1.78. American Axle & Manufact. has a fifty-two week low of $5.86 and a fifty-two week high of $17.20. The firm has a market cap of $1.11 billion, a P/E ratio of 2.89, a P/E/G ratio of 0.81 and a beta of 2.20. The business’s 50 day moving average price is $9.65 and its 200-day moving average price is $9.61.

American Axle & Manufact. (NYSE:AXL) last released its quarterly earnings results on Friday, November 1st. The auto parts company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.17. American Axle & Manufact. had a negative net margin of 5.77% and a positive return on equity of 14.79%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities analysts predict that American Axle & Manufact. will post 1.51 EPS for the current year.

A number of equities research analysts have weighed in on AXL shares. Barclays downgraded American Axle & Manufact. from an “overweight” rating to an “equal weight” rating and set a $12.00 price target on the stock. in a research report on Tuesday, November 5th. Bank of America reiterated a “buy” rating and issued a $15.00 price objective on shares of American Axle & Manufact. in a report on Tuesday, September 24th. ValuEngine upgraded shares of American Axle & Manufact. from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Finally, TheStreet downgraded shares of American Axle & Manufact. from a “c-” rating to a “d+” rating in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $15.71.

About American Axle & Manufact.

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, validates, and manufactures driveline, metal forming, powertrain, and casting products in the United States, Mexico, South America, China, other Asian countries, Europe, and internationally. The company's Driveline segment offers axles, drive shafts, power transfer units, rear drive modules, transfer cases, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.

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