Investors Purchase High Volume of Call Options on Birkenstock (NYSE:BIRK)

Birkenstock Holding PLC (NYSE:BIRK) was the recipient of some unusual options trading on Wednesday. Investors acquired 8,208 call options on the stock. This represents an increase of approximately 188% compared to the average daily volume of 2,846 call options.

Institutional Trading of Birkenstock

Institutional investors have recently bought and sold shares of the company. Morse Asset Management Inc purchased a new position in Birkenstock in the third quarter worth about $28,000. Activest Wealth Management increased its position in shares of Birkenstock by 77,500.0% during the third quarter. Activest Wealth Management now owns 776 shares of the company’s stock valued at $35,000 after acquiring an additional 775 shares in the last quarter. GAMMA Investing LLC lifted its position in Birkenstock by 34.5% in the 2nd quarter. GAMMA Investing LLC now owns 908 shares of the company’s stock valued at $45,000 after acquiring an additional 233 shares in the last quarter. Quarry LP boosted its stake in Birkenstock by 99.2% during the 3rd quarter. Quarry LP now owns 988 shares of the company’s stock valued at $45,000 after purchasing an additional 492 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Birkenstock by 61.0% during the 1st quarter. NewEdge Advisors LLC now owns 1,288 shares of the company’s stock valued at $59,000 after purchasing an additional 488 shares during the last quarter. 19.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BIRK has been the topic of a number of research analyst reports. Guggenheim upgraded Birkenstock to a “strong-buy” rating in a report on Wednesday, December 10th. Telsey Advisory Group reissued an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a research report on Friday, December 12th. BTIG Research reaffirmed a “buy” rating and set a $72.00 target price on shares of Birkenstock in a research note on Monday. Weiss Ratings reissued a “hold (c-)” rating on shares of Birkenstock in a research note on Monday. Finally, JPMorgan Chase & Co. reduced their target price on Birkenstock from $81.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $68.38.

Birkenstock Stock Down 0.1%

Shares of Birkenstock stock traded down $0.06 during midday trading on Wednesday, hitting $47.21. The company had a trading volume of 1,195,470 shares, compared to its average volume of 1,954,482. The company has a 50 day moving average of $42.03 and a 200 day moving average of $46.99. The stock has a market capitalization of $8.87 billion, a P/E ratio of 26.35, a P/E/G ratio of 0.87 and a beta of 1.14. Birkenstock has a 52-week low of $38.16 and a 52-week high of $62.66. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 2.78.

Birkenstock Company Profile

Birkenstock Holding plc manufactures and sells footwear products. It also offers sandals, shoes, closed-toe silhouettes, skincare products, and accessories. The company sells its products through e-commerce sites and a network of owned retail stores, as well as business-to-business channels. It operates in the United States, Brazil, Canada, Mexico, Europe, APMA, and internationally.