What Next for Symantec Corporation Stock After Today’s Bearish Options Activity?

 What Next for Symantec Corporation Stock After Today's Bearish Options Activity?

In today’s session Symantec Corporation (SYMC) recorded an unusually high (1,049) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious SYMC decrease. With 1,049 contracts traded and 914 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: SYMC161118P00024000 closed last at: $0.59 or 1.7% down. About 2.95 million shares traded hands. Symantec Corporation (NASDAQ:SYMC) has risen 23.71% since March 2, 2016 and is uptrending. It has outperformed by 15.46% the S&P500.

Analysts await Symantec Corporation (NASDAQ:SYMC) to report earnings on November, 3. They expect $0.15 EPS, down 58.33% or $0.21 from last year’s $0.36 per share. SYMC’s profit will be $93.91M for 42.30 P/E if the $0.15 EPS becomes a reality. After $0.23 actual EPS reported by Symantec Corporation for the previous quarter, Wall Street now forecasts -34.78% negative EPS growth.

Symantec Corporation (NASDAQ:SYMC) Ratings Coverage

Out of 19 analysts covering Symantec (NASDAQ:SYMC), 9 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 47% are positive. Symantec has been the topic of 39 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The firm has “Mkt Perform” rating by FBR Capital given on Thursday, November 5. The stock has “Hold” rating given by Argus Research on Friday, December 4. The firm earned “Overweight” rating on Tuesday, December 15 by Morgan Stanley. Wunderlich upgraded the shares of SYMC in a report on Tuesday, September 13 to “Buy” rating. Citigroup upgraded Symantec Corporation (NASDAQ:SYMC) on Friday, August 19 to “Buy” rating. As per Monday, March 21, the company rating was reinitiated by Goldman Sachs. The company was initiated on Thursday, September 10 by BTIG Research. The stock of Symantec Corporation (NASDAQ:SYMC) earned “Outperform” rating by RBC Capital Markets on Friday, August 5. The stock of Symantec Corporation (NASDAQ:SYMC) earned “Buy” rating by Citigroup on Monday, August 22. The company was maintained on Tuesday, August 2 by Jefferies.

According to Zacks Investment Research, “Symantec, a world leader in Internet security technology, provides a broad range of content security solutions to individuals and companies. The company is a leading provider of anti-virus protection, Internet content and e-mail filtering, and mobile code detection technologies to enterprise customers.”

Insitutional Activity: The institutional sentiment decreased to 0.8 in 2016 Q2. Its down 0.06, from 0.86 in 2016Q1. The ratio dived, as 62 funds sold all Symantec Corporation shares owned while 194 reduced positions. 62 funds bought stakes while 144 increased positions. They now own 560.92 million shares or 1.60% less from 570.06 million shares in 2016Q1.
First In last reported 320 shares in the company. Moreover, Advsrs Asset Management has 0% invested in Symantec Corporation (NASDAQ:SYMC) for 2,706 shares. Stoneridge Invest Limited has invested 0.87% of its portfolio in Symantec Corporation (NASDAQ:SYMC). Mackenzie Fincl Corp, a Ontario – Canada-based fund reported 24,988 shares. Beacon holds 250,414 shares or 0.8% of its portfolio. Two Sigma Lc has invested 0.82% of its portfolio in Symantec Corporation (NASDAQ:SYMC). Westpac Bk Corporation holds 98,664 shares or 0% of its portfolio. Utah Retirement holds 0.06% of its portfolio in Symantec Corporation (NASDAQ:SYMC) for 112,010 shares. Numeric Invsts Ltd Llc holds 1.3% of its portfolio in Symantec Corporation (NASDAQ:SYMC) for 7.08M shares. Moreover, Burney has 0.06% invested in Symantec Corporation (NASDAQ:SYMC) for 38,764 shares. Cornerstone holds 0% of its portfolio in Symantec Corporation (NASDAQ:SYMC) for 190 shares. Janus Cap Management Limited Liability Corp has 264,295 shares for 0% of their US portfolio. Ls Invest Ltd Llc, a Michigan-based fund reported 44,941 shares. Moreover, Nelson Roberts Advsrs Limited Liability has 0.01% invested in Symantec Corporation (NASDAQ:SYMC) for 1,456 shares. Brown Advisory Incorporated reported 13,057 shares or 0% of all its holdings.

Insider Transactions: Since June 14, 2016, the stock had 0 buys, and 5 selling transactions for $838,083 net activity. 15,474 Symantec Corporation (NASDAQ:SYMC) shares with value of $385,026 were sold by Cappellanti-Wolf Amy L.. Another trade for 11,852 shares valued at $222,344 was made by Garfield Mark S. on Tuesday, June 14. Another trade for 3,750 shares valued at $71,250 was sold by Vautrinot Suzanne M. $83,000 worth of Symantec Corporation (NASDAQ:SYMC) shares were sold by Rosch Francis C.

Symantec Corporation provides security and information management solutions. The company has a market cap of $15.89 billion. The Firm operates its business on a global civilian cyber intelligence threat network and tracks various threats across the Internet from mobile devices, endpoints, and servers across the world. It currently has negative earnings. It is developing solutions for cloud, threat protection, information protection and cyber security services.

SYMC Company Profile

Symantec Corporation, incorporated on April 19, 1988, provides security and information management solutions. The Firm operates its business on a global civilian cyber intelligence threat network and tracks various threats across the Internet from mobile devices, endpoints, and servers across the world. The Firm is developing solutions for cloud, threat protection, information protection and cyber security services. The Firm operates through two divisions: Consumer Security and Enterprise Security. The Company’s services include business critical services, consulting services, customer success services, cyber security services and education services.

More recent Symantec Corporation (NASDAQ:SYMC) news were published by: Profitconfidential.com which released: “Symantec Corporation: Why SYMC Stock Can Gain 20%” on October 05, 2016. Also Profitconfidential.com published the news titled: “Symantec Corporation: SYMC Stock Needs a Handle to Really Soar” on September 16, 2016. Seekingalpha.com‘s news article titled: “Symantec: Blue Coat Alone Is No Cure” with publication date: September 27, 2016 was also an interesting one.

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