GME Stock – PPD Sees Unusually Large Options Volume (NASDAQ:PPD)
PPD, Inc. (NASDAQ:PPD) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 10,235 put options on the stock. This represents an increase of 2,666% compared to the average daily volume of 370 put options.
In other PPD news, CEO David S. Simmons sold 100,000 shares of the business’s stock in a transaction on Wednesday, April 14th. The stock was sold at an average price of $42.00, for a total value of $4,200,000.00. Following the sale, the chief executive officer now directly owns 669,999 shares of the company’s stock, valued at $28,139,958. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Schroder Investment Management Group bought a new stake in shares of PPD in the 1st quarter worth about $62,589,000. Axiom Investment Management LLC purchased a new position in PPD in the first quarter worth about $387,000. PFM Health Sciences LP increased its stake in PPD by 47.6% during the first quarter. PFM Health Sciences LP now owns 1,096,492 shares of the company’s stock worth $41,491,000 after acquiring an additional 353,629 shares during the last quarter. Grandeur Peak Global Advisors LLC raised its position in PPD by 122.4% during the first quarter. Grandeur Peak Global Advisors LLC now owns 272,050 shares of the company’s stock valued at $10,294,000 after purchasing an additional 149,700 shares during the period. Finally, Eaton Vance Management bought a new stake in shares of PPD in the 1st quarter valued at approximately $30,000. Hedge funds and other institutional investors own 86.88% of the company’s stock.
NASDAQ PPD traded down $0.19 on Wednesday, reaching $46.35. The company had a trading volume of 2,090,984 shares, compared to its average volume of 2,436,471. The stock has a market cap of $16.27 billion, a PE ratio of 87.45, a PEG ratio of 2.11 and a beta of 2.22. PPD has a 12 month low of $25.59 and a 12 month high of $46.63. The stock’s 50 day moving average is $45.35.
PPD (NASDAQ:PPD) last issued its earnings results on Tuesday, April 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.04. PPD had a negative return on equity of 29.55% and a net margin of 2.93%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.29 billion. On average, equities research analysts anticipate that PPD will post 1.44 earnings per share for the current year.
A number of brokerages have recently issued reports on PPD. Barclays started coverage on shares of PPD in a report on Tuesday, March 2nd. They set an “overweight” rating and a $42.00 price target on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reissued a “neutral” rating and set a $47.50 price target on shares of PPD in a report on Monday, April 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $47.00 price objective (up previously from $39.00) on shares of PPD in a report on Thursday, April 22nd. Jefferies Financial Group reaffirmed a “hold” rating on shares of PPD in a research report on Monday, April 26th. Finally, Robert W. Baird restated a “neutral” rating and set a $48.00 target price on shares of PPD in a research report on Wednesday, April 21st. Thirteen analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $44.08.
PPD, Inc, together with its subsidiaries, provides drug development services to the biopharmaceutical industry worldwide. The company operates through two segments, Clinical Development Services and Laboratory Services. It offers clinical development services, including product development and consulting, early development, Phases II-IV clinical trial management, accelerated enrollment, peri-and post-approval, and medical communications services.
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