Investors Purchase Large Volume of Global Payments Put Options (GPN)

Global Payments Inc (NYSE:GPN) was the target of unusually large options trading activity on Monday. Traders bought 457 put options on the stock. This represents an increase of approximately 762% compared to the typical volume of 53 put options.

In related news, Director Alan M. Silberstein sold 700 shares of the business’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $109.66, for a total transaction of $76,762.00. Following the completion of the transaction, the director now owns 42,169 shares in the company, valued at $4,624,252.54. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of the business’s stock in a transaction on Monday, January 14th. The stock was sold at an average price of $110.82, for a total transaction of $332,460.00. Following the transaction, the director now owns 72,399 shares of the company’s stock, valued at approximately $8,023,257.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,700 shares of company stock valued at $715,282. Insiders own 0.98% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. grew its position in shares of Global Payments by 37.4% in the fourth quarter. Advisor Group Inc. now owns 9,460 shares of the business services provider’s stock valued at $976,000 after purchasing an additional 2,574 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new stake in shares of Global Payments in the fourth quarter valued at approximately $313,000. Bank of Nova Scotia grew its position in shares of Global Payments by 5.2% in the fourth quarter. Bank of Nova Scotia now owns 33,879 shares of the business services provider’s stock valued at $3,494,000 after purchasing an additional 1,681 shares during the last quarter. Raymond James & Associates grew its position in shares of Global Payments by 101.8% in the fourth quarter. Raymond James & Associates now owns 83,894 shares of the business services provider’s stock valued at $8,652,000 after purchasing an additional 42,315 shares during the last quarter. Finally, Girard Partners LTD. grew its position in shares of Global Payments by 16.2% in the fourth quarter. Girard Partners LTD. now owns 6,359 shares of the business services provider’s stock valued at $655,000 after purchasing an additional 885 shares during the last quarter. 98.47% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently commented on GPN. Robert W. Baird boosted their target price on shares of Global Payments from $136.00 to $142.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 17th. KeyCorp boosted their price target on shares of Global Payments from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, October 31st. Cantor Fitzgerald upped their target price on shares of Global Payments from $136.00 to $143.00 and gave the company an “overweight” rating in a report on Wednesday, October 31st. Nomura upped their target price on shares of Global Payments from $91.00 to $94.00 and gave the company a “reduce” rating in a report on Monday. Finally, Guggenheim cut shares of Global Payments from a “buy” rating to a “neutral” rating in a report on Monday, November 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $131.26.

NYSE GPN opened at $116.02 on Tuesday. The stock has a market cap of $18.18 billion, a P/E ratio of 28.93, a PEG ratio of 1.12 and a beta of 1.15. Global Payments has a 52-week low of $94.81 and a 52-week high of $129.25. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.03.

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Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, online reporting, industry compliance, and payment card industry security services.

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