Birkenstock Sees Unusually High Options Volume (NYSE:BIRK)

Birkenstock Holding plc (NYSE:BIRK) was the target of some unusual options trading activity on Wednesday. Investors purchased 2,895 call options on the company. This represents an increase of approximately 47% compared to the average daily volume of 1,973 call options.

Institutional Trading of Birkenstock

Several large investors have recently bought and sold shares of BIRK. Quarry LP purchased a new stake in Birkenstock during the 3rd quarter worth approximately $25,000. MetLife Investment Management LLC grew its position in shares of Birkenstock by 52.2% during the third quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock worth $34,000 after buying an additional 236 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Birkenstock by 33.7% in the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after buying an additional 225 shares during the last quarter. Amalgamated Bank raised its holdings in Birkenstock by 51.8% in the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock valued at $102,000 after acquiring an additional 707 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Birkenstock during the 2nd quarter valued at $136,000. Institutional investors and hedge funds own 19.93% of the company’s stock.

Birkenstock Stock Performance

Shares of BIRK stock opened at $57.16 on Thursday. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. The company has a market cap of $10.74 billion, a PE ratio of 93.70, a P/E/G ratio of 1.19 and a beta of 2.22. The company’s fifty day simple moving average is $49.81 and its 200-day simple moving average is $53.05. Birkenstock has a 52 week low of $41.00 and a 52 week high of $64.78.

Analyst Ratings Changes

Several analysts have weighed in on BIRK shares. BMO Capital Markets reissued an “outperform” rating and issued a $60.00 target price on shares of Birkenstock in a report on Friday, August 30th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Birkenstock from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday. HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and lifted their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. UBS Group lowered their price target on shares of Birkenstock from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Tuesday, December 10th. Finally, BTIG Research lifted their price objective on Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Birkenstock has a consensus rating of “Moderate Buy” and a consensus price target of $66.44.

Birkenstock Company Profile

Birkenstock Holding plc manufactures and sells footwear products. It also offers sandals, shoes, closed-toe silhouettes, skincare products, and accessories. The company sells its products through e-commerce sites and a network of owned retail stores, as well as business-to-business channels. It operates in the United States, Brazil, Canada, Mexico, Europe, APMA, and internationally.