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Unusual Call Option Trade in Newell Brands Worth $866.25K
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On May 11, 2023 at 14:21:10 ET an unusually large $866.25K block of Call contracts in Newell Brands (NWL) was sold, with a strike price of $10.00 / share, expiring in 253 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 9.62 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in NWL options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 1126 funds or institutions reporting positions in Newell Brands. This is a decrease of 16 owner(s) or 1.40% in the last quarter. Average portfolio weight of all funds dedicated to NWL is 0.17%, an increase of 29.88%. Total shares owned by institutions increased in the last three months by 1.48% to 459,841K shares. The put/call ratio of NWL is 0.53, indicating a bullish outlook.
Analyst Price Forecast Suggests 61.37% Upside
As of May 11, 2023, the average one-year price target for Newell Brands is 15.35. The forecasts range from a low of 10.10 to a high of $21.00. The average price target represents an increase of 61.37% from its latest reported closing price of 9.51.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Newell Brands is 9,182MM, an increase of 3.45%. The projected annual non-GAAP EPS is 1.50.
What are Other Shareholders Doing?
Pzena Investment Management holds 47,362K shares representing 11.44% ownership of the company. In it’s prior filing, the firm reported owning 38,955K shares, representing an increase of 17.75%. The firm increased its portfolio allocation in NWL by 1.99% over the last quarter.
Icahn Carl C holds 33,070K shares representing 7.99% ownership of the company. No change in the last quarter.
Jpmorgan Chase holds 21,417K shares representing 5.17% ownership of the company. In it’s prior filing, the firm reported owning 22,022K shares, representing a decrease of 2.83%. The firm decreased its portfolio allocation in NWL by 89.41% over the last quarter.
Victory Capital Management holds 14,687K shares representing 3.55% ownership of the company. In it’s prior filing, the firm reported owning 14,628K shares, representing an increase of 0.40%. The firm decreased its portfolio allocation in NWL by 6.79% over the last quarter.
VWNDX – Vanguard Windsor Fund Investor Shares holds 11,866K shares representing 2.87% ownership of the company. No change in the last quarter.
Newell Brands Background Information
(This description is provided by the company.)
Newell Brands is a leading global consumer goods company with a strong portfolio of well-known brands, including Rubbermaid®, Paper Mate®, Sharpie®, Dymo®, EXPO®, Parker®, Elmer’s®, Coleman®, Marmot®, Oster®, Sunbeam®,?FoodSaver®, Mr. Coffee®, Rubbermaid Commercial Products®, Graco®, Baby Jogger®, NUK®, Calphalon®, Contigo®, First Alert®, Mapa®,?Spontex® and Yankee Candle®.? Newell Brands is committed to enhancing the lives of consumers around the world with planet friendly, innovative and attractive products that create moments of joy and provide peace of mind.
See all Newell Brands regulatory filings.
This article originally appeared on Fintel
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