Traders Purchase High Volume of Put Options on Fresh Del Monte Produce (NYSE:FDP)

Fresh Del Monte Produce Inc (NYSE:FDP) saw some unusual options trading on Thursday. Stock traders bought 1,700 put options on the stock. This is an increase of 918% compared to the typical daily volume of 167 put options.

Shares of NYSE FDP traded up $0.29 during midday trading on Friday, reaching $24.95. 206,017 shares of the company’s stock were exchanged, compared to its average volume of 300,042. Fresh Del Monte Produce has a 52-week low of $22.98 and a 52-week high of $43.12. The company has a market capitalization of $1.21 billion, a PE ratio of 499.00 and a beta of 0.83. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.92 and a quick ratio of 0.99. The stock’s fifty day moving average price is $26.57.

Fresh Del Monte Produce (NYSE:FDP) last issued its earnings results on Tuesday, April 30th. The company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.09. Fresh Del Monte Produce had a positive return on equity of 0.10% and a negative net margin of 0.60%. The company had revenue of $1.15 billion during the quarter. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis.

In other news, Director Michael J. Berthelot sold 2,207 shares of Fresh Del Monte Produce stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $29.37, for a total transaction of $64,819.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 37.60% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Quantamental Technologies LLC acquired a new position in Fresh Del Monte Produce in the first quarter valued at approximately $92,000. NumerixS Investment Technologies Inc boosted its position in shares of Fresh Del Monte Produce by 47.8% during the first quarter. NumerixS Investment Technologies Inc now owns 3,400 shares of the company’s stock worth $92,000 after buying an additional 1,100 shares during the period. Commonwealth Bank of Australia boosted its position in shares of Fresh Del Monte Produce by 19.6% during the fourth quarter. Commonwealth Bank of Australia now owns 6,700 shares of the company’s stock worth $189,000 after buying an additional 1,100 shares during the period. Two Sigma Advisers LP acquired a new position in shares of Fresh Del Monte Produce during the fourth quarter worth approximately $294,000. Finally, Stone Ridge Asset Management LLC boosted its position in shares of Fresh Del Monte Produce by 31.8% during the fourth quarter. Stone Ridge Asset Management LLC now owns 11,019 shares of the company’s stock worth $312,000 after buying an additional 2,659 shares during the period. Institutional investors own 60.22% of the company’s stock.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North America, Europe, the Middle East, Africa, Asia, and internationally. It offers fresh produce products, such as bananas, pineapples, melons, tomatoes, grapes, apples, pears, peaches, plums, nectarines, cherries, citrus, avocados, blueberries, strawberries, and kiwi; various vegetables, including potatoes, onions, bell peppers, cucumbers, whole lettuce, broccoli, cauliflower, and other vegetables; and various other fruits, such as plantains and mangoes.

Further Reading: Buy-Side Analysts

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