What Next for Signet Jewelers Ltd. Stock After Today’s Bearish Options Activity?

 What Next for Signet Jewelers Ltd. Stock After Today's Bearish Options Activity?

In today’s session Signet Jewelers Ltd. (SIG) recorded an unusually high (863) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious SIG decrease. With 863 contracts traded and 35704 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: SIG161021P00075000 closed last at: $0.55 or 62.1% down. About 421,731 shares traded hands. Signet Jewelers Ltd. (NYSE:SIG) has declined 27.11% since March 4, 2016 and is downtrending. It has underperformed by 35.15% the S&P500.

Signet Jewelers Ltd. (NYSE:SIG) Ratings Coverage

Out of 15 analysts covering Signet Jewelers (NYSE:SIG), 10 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 67% are positive. Signet Jewelers has been the topic of 32 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Johnson Rice downgraded the stock to “Accumulate” rating in Monday, August 29 report. The firm earned “Buy” rating on Wednesday, October 7 by Citigroup. The firm earned “Neutral” rating on Friday, September 9 by BNP Paribas. Goldman Sachs upgraded the stock to “Conviction Buy” rating in Thursday, October 29 report. The stock has “Buy” rating given by Johnson Rice on Monday, November 9. Telsey Advisory Group maintained it with “Outperform” rating and $110 target price in Friday, August 26 report. On Friday, August 28 the stock rating was maintained by Buckingham Research with “Buy”. Telsey Advisory Group maintained it with “Outperform” rating and $165 target price in Friday, August 28 report. The stock of Signet Jewelers Ltd. (NYSE:SIG) earned “Overweight” rating by JP Morgan on Friday, November 6. Deutsche Bank maintained the shares of SIG in a report on Tuesday, August 23 with “Buy” rating.

According to Zacks Investment Research, “Signet Jewelers Ltd. is engaged in retailing of jewelry, watches and associated services. The company operates primarily in the United States, the United Kingdom, the Republic of Ireland and the Channel Islands. Signet Jewelers Ltd., formerly known as Signet Group PLC, is based in Hamilton, Bermuda.”

Insitutional Activity: The institutional sentiment decreased to 0.97 in 2016 Q2. Its down 0.28, from 1.25 in 2016Q1. The ratio worsened, as 84 funds sold all Signet Jewelers Ltd. shares owned while 114 reduced positions. 56 funds bought stakes while 136 increased positions. They now own 77.93 million shares or 3.70% more from 75.15 million shares in 2016Q1.
Exane Derivatives owns 1 shares or 0% of their US portfolio. Etrade Mgmt Limited Liability Co owns 3,584 shares or 0.02% of their US portfolio. Natixis Asset has 0.45% invested in the company for 50,000 shares. Vanguard owns 6.83 million shares or 0.03% of their US portfolio. Pacad Investment Limited owns 29,883 shares or 0.34% of their US portfolio. Addison Cap Communication owns 5,759 shares or 0.43% of their US portfolio. M&T Retail Bank Corp holds 0% or 4,832 shares in its portfolio. Norinchukin Bancorp The holds 0.01% of its portfolio in Signet Jewelers Ltd. (NYSE:SIG) for 4,091 shares. Arizona State Retirement System has 0.02% invested in the company for 19,100 shares. Elk Creek Prtnrs Ltd Liability Corp, a Colorado-based fund reported 34,857 shares. Proshare Advsr Ltd Limited Liability Company holds 21,466 shares or 0.02% of its portfolio. Financial Bank Of Montreal Can has invested 0% of its portfolio in Signet Jewelers Ltd. (NYSE:SIG). Raymond James Associates has 0.02% invested in the company for 63,643 shares. Driehaus Management Ltd Liability Com has 9,300 shares for 0.03% of their US portfolio. Macquarie Grp Inc owns 69,145 shares or 0.01% of their US portfolio.

Insider Transactions: Since June 7, 2016, the stock had 16 buys, and 0 insider sales for $1.35 million net activity. PLASKETT THOMAS G bought $26,664 worth of stock. $99,498 worth of Signet Jewelers Ltd. (NYSE:SIG) shares were bought by Santana Michele. The insider Ulasewicz Eugenia bought $29,868. Shares for $89,550 were bought by Stack Robert. $89,910 worth of shares were bought by McCluskey Helen on Tuesday, July 19. Another trade for 1,135 shares valued at $100,141 was bought by Drosos Virginia. $35,300 worth of Signet Jewelers Ltd. (NYSE:SIG) was bought by Hrabak Edward on Monday, June 13.

Signet Jewelers Limited is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The company has a market cap of $6.09 billion. The Company’s divisions are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment. It has a 12.28 P/E ratio. The Other segment includes subsidiaries involved in purchasing and conversion of rough diamonds to polished stones.

SIG Company Profile

Signet Jewelers Limited, incorporated on June 25, 2008, is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The Company’s divisions are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment. The Other segment includes subsidiaries involved in purchasing and conversion of rough diamonds to polished stones. The Firm operates retail jewelry stores in various real estate formats, including mall-based, free-standing, strip center and outlet store locations. The Firm operates approximately 3,620 stores and kiosks across over five million square feet of retail space.

More recent Signet Jewelers Ltd. (NYSE:SIG) news were published by: Streetinsider.com which released: “Form 3 SIGNET JEWELERS LTD For: Oct 05 Filed by: SOKOLOFF JONATHAN D” on October 05, 2016. Also Prnewswire.com published the news titled: “SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered …” on September 20, 2016. Businesswire.com‘s news article titled: “Robbins Arroyo LLP: Signet Jewelers Limited (SIG) Misled Shareholders …” with publication date: September 19, 2016 was also an interesting one.

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