Investors Buy Large Volume of Intelsat Put Options (NYSE:I)

Intelsat SA (NYSE:I) was the target of unusually large options trading activity on Wednesday. Stock traders bought 60,534 put options on the stock. This represents an increase of 874% compared to the typical daily volume of 6,218 put options.

I has been the topic of several recent research reports. JPMorgan Chase & Co. lowered shares of Intelsat from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $34.00 to $22.00 in a research report on Tuesday. Zacks Investment Research lowered shares of Intelsat from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th. Finally, Barclays set a $20.00 price objective on shares of Intelsat and gave the stock a “hold” rating in a research report on Friday, September 27th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.40.

A number of large investors have recently added to or reduced their stakes in the business. Ipswich Investment Management Co. Inc. lifted its holdings in Intelsat by 18.2% in the 2nd quarter. Ipswich Investment Management Co. Inc. now owns 23,830 shares of the technology company’s stock valued at $463,000 after purchasing an additional 3,670 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Intelsat by 13.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 31,627 shares of the technology company’s stock worth $615,000 after acquiring an additional 3,700 shares in the last quarter. Hartwell J M Limited Partnership lifted its stake in shares of Intelsat by 0.8% in the second quarter. Hartwell J M Limited Partnership now owns 496,150 shares of the technology company’s stock worth $9,650,000 after acquiring an additional 3,950 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Intelsat in the third quarter worth about $109,000. Finally, Aperio Group LLC acquired a new stake in Intelsat during the second quarter valued at approximately $110,000. Institutional investors own 90.90% of the company’s stock.

Shares of Intelsat stock traded down $2.28 on Thursday, hitting $12.15. The company’s stock had a trading volume of 20,547,337 shares, compared to its average volume of 2,300,035. Intelsat has a 52-week low of $13.00 and a 52-week high of $29.54. The firm has a fifty day moving average price of $24.48 and a 200-day moving average price of $21.45. The company has a market capitalization of $3.21 billion, a P/E ratio of -5.21 and a beta of 1.49.

Intelsat (NYSE:I) last released its earnings results on Tuesday, October 29th. The technology company reported ($2.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.88) by ($1.86). The business had revenue of $506.70 million for the quarter, compared to the consensus estimate of $502.15 million. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.26) EPS. As a group, analysts expect that Intelsat will post -3.5 earnings per share for the current year.

Intelsat Company Profile

Intelsat SA, together with its subsidiaries, provides satellite communications services worldwide. The company offers a range of communications services to media companies, fixed and wireless telecommunications operators, data networking service providers for enterprise and mobile applications in the air and on the seas, multinational corporations, and Internet service providers; and commercial satellite communication services to the U.S.

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