General Cable Corporation Has More Gas To Decrease After Today’s Bearish Options Activity

 General Cable Corporation Has More Gas To Decrease After Today's Bearish Options Activity

In today’s session General Cable Corporation (BGC) recorded an unusually high (164) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious BGC decrease. With 164 contracts traded and 1604 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: BGC161118P00008000 closed last at: $0.15 or 62.5% down. About 83,551 shares traded hands. General Cable Corporation (NYSE:BGC) has risen 40.39% since March 16, 2016 and is uptrending. It has outperformed by 34.85% the S&P500.

Analysts await General Cable Corporation (NYSE:BGC) to report earnings on November, 2. They expect $0.26 EPS, 0.00% or $0.00 from last year’s $0.26 per share. BGC’s profit will be $12.96M for 14.06 P/E if the $0.26 EPS becomes a reality. After $0.30 actual EPS reported by General Cable Corporation for the previous quarter, Wall Street now forecasts -13.33% negative EPS growth.

According to Zacks Investment Research, “General Cable Corp. is a leader in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for the communications, energy and electrical markets. The company sells its products primarily to commercial, industrial, utility, telecommunications, original equipment manufacturers, military/government, retail, electrical, and communications distributor customers worldwide.”

Insitutional Activity: The institutional sentiment decreased to 1.07 in 2016 Q2. Its down 0.17, from 1.24 in 2016Q1. The ratio is negative, as 25 funds sold all General Cable Corporation shares owned while 49 reduced positions. 25 funds bought stakes while 54 increased positions. They now own 45.98 million shares or 4.61% more from 43.96 million shares in 2016Q1.
Victory Capital Management last reported 0.06% of its portfolio in the stock. Systematic Fincl Mgmt Lp has 0.25% invested in the company for 1.46 million shares. Comerica Retail Bank has 0.01% invested in the company for 49,601 shares. Capstone Asset Management Com accumulated 15,019 shares or 0.01% of the stock. Pnc Grp Inc Inc has 315,228 shares for 0% of their US portfolio. The California-based Schwab Charles Investment Inc has invested 0.01% in General Cable Corporation (NYSE:BGC). Menta Cap Limited holds 92,323 shares or 0.16% of its portfolio. Sandy Spring Savings Bank has invested 0% of its portfolio in General Cable Corporation (NYSE:BGC). Northern Tru last reported 0% of its portfolio in the stock. Sector Pension Inv Board accumulated 33,678 shares or 0% of the stock. Ubs Asset Management Americas reported 53,986 shares or 0% of all its holdings. The Illinois-based Advisory Research Inc has invested 0.02% in General Cable Corporation (NYSE:BGC). Moreover, Rbf Cap Ltd Liability Corp has 0.03% invested in General Cable Corporation (NYSE:BGC) for 10,300 shares. Hanseatic owns 130 shares or 0% of their US portfolio. Invesco Limited reported 945,578 shares or 0% of all its holdings.

Insider Transactions: Since May 27, 2016, the stock had 1 insider purchase, and 0 selling transactions for $1,386 net activity. 100 General Cable Corporation (NYSE:BGC) shares with value of $1,386 were bought by WELSH JOHN E III.

General Cable Corporation is engaged in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for use in the energy, industrial, construction, specialty and communications markets. The company has a market cap of $728.51 million. The Firm operates through four divisions: North America, Europe, Latin America, and Africa/Asia Pacific. It currently has negative earnings. The Firm additionally engages in the design, integration and installation on a turnkey basis for products, such as high and extra-high voltage terrestrial and submarine systems.

BGC Company Profile

General Cable Corporation, incorporated on April 22, 1994, is engaged in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for use in the energy, industrial, construction, specialty and communications markets. The Firm operates through four divisions: North America, Europe, Latin America, and Africa/Asia Pacific. The Firm additionally engages in the design, integration and installation on a turnkey basis for products, such as high and extra-high voltage terrestrial and submarine systems.

More notable recent General Cable Corporation (NYSE:BGC) news were published by: Businesswire.com which released: “General Cable Corporation to Webcast Discussion of its Third Quarter 2016 Results” on October 18, 2016, also Moodys.com with their article: “Moody’s affirms General Cable’s Corporate Family Rating at B2; rating outlook …” published on September 23, 2015, Blogs.Wsj.com published: “General Cable Sets Aside More for Foreign Corruption Settlement” on February 11, 2016. More interesting news about General Cable Corporation (NYSE:BGC) were released by: Businesswire.com and their article: “General Cable Corporation to Webcast Discussion of its First Quarter 2016 Results” published on April 12, 2016 as well as Businesswire.com‘s news article titled: “General Cable Announces Leadership Changes in the Americas” with publication date: August 18, 2016.

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