Traders buy high volume call options on Rover Group (NASDAQ:ROVR)



Rover Group, Inc. (NASDAQ:ROVR – Get Rating) saw unusually heavy options trading activity on Wednesday. Traders bought 17,748 call options on the company. This represents an increase of approximately 6,623% over the average daily volume of 264 call options.

ROVR has been the subject of several research analyst reports. JMP Securities lowered its price target on Rover Group shares from $15.00 to $11.00 and set a “market outperformance” rating for the company in a Tuesday, March 8 research report. Canaccord Genuity Group reduced its target price on Rover Group from $14.00 to $8.00 and set a “buy” rating for the company in a Tuesday, March 8 research note. Morgan Stanley cut its target price on Rover Group from $10.00 to $6.00 and set an “equal weight” rating for the company in a Tuesday, March 8 research note. Canaccord Genuity Group lowered its target price on Rover Group shares from $18.00 to $14.00 and set a “buy” rating on the stock in a Monday, February 28 research note. Finally, Zacks Investment Research upgraded Rover Group’s shares from a “sell” to a “hold” rating in a Friday, March 11 research note. Two investment analysts gave the stock a hold rating and six gave the stock a buy rating. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $11.50.

NASDAQ:ROVR shares opened at $5.74 on Thursday. The company has a market capitalization of $1.04 billion, a PE ratio of -4.70 and a beta of 0.01. The company has a fifty-day moving average price of $5.57 and a two-hundred-day moving average price of $7.01. Rover Group has a 1 year minimum of $4.27 and a 1 year maximum of $15.59.

Rover Group (NASDAQ:ROVR – Get Rating) last released its results on Monday, May 9. The company reported ($0.05) earnings per share for the quarter, beating analyst consensus estimates of ($0.07) by $0.02. The company posted revenue of $28.00 million for the quarter, compared to $26.51 million expected by analysts. Rover Group had a negative net margin of 72.28% and a negative return on equity of 21.97%. The company’s quarterly revenue increased 133.3% year over year. During the same period of the previous year, the company made ($0.35) earnings per share. On average, sell-side analysts expect Rover Group to post -0.07 EPS for the current year.

In other news, COO Brenton R. Turner sold 13,986 shares in a trade that took place on Thursday, March 10. The stock was sold at an average price of $4.96, for a total transaction of $69,370.56. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, CEO Aaron Easterly sold 12,189 shares of the company in a trade that took place on Thursday, March 10. The shares were sold at an average price of $4.96, for a total value of $60,457.44. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 29,750 shares of the company valued at $147,560.

Institutional investors and hedge funds have recently changed their stakes in the company. The Swiss National Bank bought a new stake in Rover Group shares in the fourth quarter worth $1,686,000. Broad Bay Capital Management LP bought a new stake in shares of Rover Group in the third quarter worth $47,038,000. Capstone Investment Advisors LLC bought a new position in shares of Rover Group in the third quarter worth approximately $297,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Rover Group in the third quarter worth approximately $276,000. Finally, Geode Capital Management LLC purchased a new position in shares of Rover Group in the third quarter worth approximately $8,711,000. Hedge funds and other institutional investors hold 78.77% of the company’s shares.

Rover Group Company Profile (Get a rating)

Rover Group, Inc operates an online marketplace for pet care worldwide. It connects pet owners with pet providers who offer overnight services, including boarding and in-home pet sitting, as well as daytime services, such as dog daycare, dog walking, walk-ins, grooming and training. The company is headquartered in Seattle, Washington.

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