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Tanger Factory Outlet Centers Target of Unusually Large Options Trading (NYSE:SKT)

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) was the target of some unusual options trading on Tuesday. Traders purchased 7,973 put options on the stock. This is an increase of 1,593% compared to the average volume of 471 put options.

Several research firms recently issued reports on SKT. Compass Point raised Tanger Factory Outlet Centers from a “sell” rating to a “neutral” rating and set a $7.50 price target on the stock in a research report on Monday, November 9th. ValuEngine raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Friday, November 6th. Finally, KeyCorp raised Tanger Factory Outlet Centers from an “underweight” rating to a “sector weight” rating in a research report on Monday, September 21st. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.37.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its stake in Tanger Factory Outlet Centers by 2.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 106,288 shares of the real estate investment trust’s stock worth $641,000 after buying an additional 2,525 shares during the last quarter. Voloridge Investment Management LLC bought a new position in shares of Tanger Factory Outlet Centers in the third quarter worth $833,000. Point72 Hong Kong Ltd grew its stake in shares of Tanger Factory Outlet Centers by 193.8% in the third quarter. Point72 Hong Kong Ltd now owns 4,577 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 3,019 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Tanger Factory Outlet Centers by 5.5% in the third quarter. Cubist Systematic Strategies LLC now owns 34,982 shares of the real estate investment trust’s stock worth $211,000 after purchasing an additional 1,834 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of Tanger Factory Outlet Centers by 118.2% in the third quarter. Squarepoint Ops LLC now owns 133,439 shares of the real estate investment trust’s stock worth $805,000 after purchasing an additional 72,285 shares in the last quarter. Hedge funds and other institutional investors own 79.34% of the company’s stock.

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Shares of SKT opened at $9.36 on Wednesday. The company has a market cap of $858.83 million, a P/E ratio of 131.30 and a beta of 1.78. The stock has a fifty day moving average price of $6.79 and a 200 day moving average price of $6.60. The company has a debt-to-equity ratio of 5.96, a current ratio of 4.78 and a quick ratio of 4.78. Tanger Factory Outlet Centers has a 12 month low of $4.05 and a 12 month high of $16.93.

About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc (NYSE: SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that presently operates and owns, or has an ownership interest in, a portfolio of 39 upscale outlet shopping centers. Tanger’s operating properties are located in 20 states and in Canada, totaling approximately 14.3 million square feet, leased to over 2,800 stores which are operated by more than 510 different brand name companies.

Further Reading: How can investors benefit from after-hours trading?

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7 Valuable China Stocks That May Get Delisted

As if investors didn’t have enough to think about in 2020, tensions between the United States and China are continuing to flare up. One of the issues, of course, is the “what did they know and when did they know it” events surrounding the novel coronavirus. There are also issues surrounding global supply chains and the fate of 5G networking.

But another issue that should be drawing the concern of investors is the threat of Chinese stocks being delisted from American exchanges. On Friday, June 26 Luckin Coffee was delisted from the NASDAQ. The company had been in hot water since reports early this year that it had credited itself with thousands of phantom sales.

But that isn’t the reason for the delisting. The reality is that Chinese companies don’t abide by the same agreed upon accounting standards as American companies. And that can make it harder for investors to get an accurate picture of what is going on with their business at a given moment.
However, like most issues between the two countries, it’s not as simple as that. There are Chinese companies that are considering voluntarily and unilaterally removing themselves from American exchanges and list on the Hong Kong or Shanghai exchanges.

While neither of these moves would mean that U.S. investors would be prohibited from trading these stocks, it could make it more difficult.

U.S. relations with China will be an issue during this election year, and likely beyond. It would be well worth your time and attention to pay careful attention to your current or planned exposure to these China stocks.

View the “7 Valuable China Stocks That May Get Delisted”.

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