Columbia Sportswear Sees Unusually High Options Volume (COLM)

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Columbia Sportswear (NASDAQ:COLM) was the recipient of unusually large options trading on Tuesday. Investors bought 1,931 put options on the company. This represents an increase of approximately 1,536% compared to the average volume of 118 put options.

In related news, CAO Peter J. Bragdon sold 12,005 shares of Columbia Sportswear stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $89.09, for a total transaction of $1,069,525.45. Following the transaction, the chief accounting officer now owns 31,845 shares in the company, valued at $2,837,071.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Andy D. Bryant sold 19,946 shares of Columbia Sportswear stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $85.35, for a total value of $1,702,391.10. Following the transaction, the director now owns 46,277 shares in the company, valued at approximately $3,949,741.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,294 shares of company stock worth $3,460,214. 56.68% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of COLM. Stifel Financial Corp boosted its holdings in Columbia Sportswear by 19.2% in the first quarter. Stifel Financial Corp now owns 4,340 shares of the textile maker’s stock valued at $331,000 after purchasing an additional 698 shares during the period. Guggenheim Capital LLC boosted its holdings in Columbia Sportswear by 4.2% in the first quarter. Guggenheim Capital LLC now owns 19,031 shares of the textile maker’s stock valued at $1,454,000 after purchasing an additional 773 shares during the period. Intrust Bank NA boosted its holdings in Columbia Sportswear by 15.1% in the first quarter. Intrust Bank NA now owns 6,624 shares of the textile maker’s stock valued at $507,000 after purchasing an additional 867 shares during the period. Citigroup Inc. boosted its holdings in Columbia Sportswear by 7.4% in the first quarter. Citigroup Inc. now owns 12,760 shares of the textile maker’s stock valued at $975,000 after purchasing an additional 876 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Columbia Sportswear by 29.4% in the first quarter. Principal Financial Group Inc. now owns 4,119 shares of the textile maker’s stock valued at $315,000 after purchasing an additional 936 shares during the period. 38.86% of the stock is owned by institutional investors and hedge funds.

COLM has been the subject of several recent analyst reports. Robert W. Baird raised their target price on Columbia Sportswear from $87.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, April 12th. BidaskClub cut Columbia Sportswear from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 17th. Needham & Company LLC initiated coverage on Columbia Sportswear in a research note on Monday, April 23rd. They set a “buy” rating and a $87.00 target price for the company. Pivotal Research raised their target price on Columbia Sportswear from $83.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, April 25th. Finally, CL King cut Columbia Sportswear to a “hold” rating in a research note on Friday, April 27th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $83.13.

Shares of Columbia Sportswear opened at $90.49 on Wednesday, according to MarketBeat. Columbia Sportswear has a twelve month low of $54.89 and a twelve month high of $94.33. The firm has a market capitalization of $6.32 billion, a PE ratio of 30.37, a PEG ratio of 2.42 and a beta of 0.90.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings data on Thursday, April 26th. The textile maker reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.19. Columbia Sportswear had a return on equity of 13.58% and a net margin of 4.52%. The business had revenue of $607.31 million during the quarter, compared to analysts’ expectations of $581.16 million. During the same period in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. sell-side analysts predict that Columbia Sportswear will post 3.35 EPS for the current fiscal year.

About Columbia Sportswear

Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and Canada. The company provides apparel, accessories, and equipment that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.

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