Investors Purchase High Volume of Sothebys Call Options (BID)
Sothebys (NYSE:BID) was the recipient of unusually large options trading on Monday. Investors acquired 1,098 call options on the company. This is an increase of approximately 637% compared to the average volume of 149 call options.
Shares of Sothebys (NYSE:BID) traded up $1.18 during mid-day trading on Wednesday, reaching $47.44. The company had a trading volume of 380,827 shares, compared to its average volume of 351,059. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.73 and a quick ratio of 1.62. The firm has a market capitalization of $2,490.00, a price-to-earnings ratio of 23.96 and a beta of 1.81. Sothebys has a 52-week low of $39.42 and a 52-week high of $57.95.
A number of institutional investors and hedge funds have recently bought and sold shares of BID. Evanson Asset Management LLC purchased a new stake in Sothebys during the fourth quarter worth $203,000. Eaton Vance Management purchased a new stake in Sothebys during the fourth quarter worth $207,000. US Bancorp DE boosted its position in Sothebys by 55.4% during the fourth quarter. US Bancorp DE now owns 4,251 shares of the specialty retailer’s stock worth $219,000 after purchasing an additional 1,516 shares in the last quarter. Wright Investors Service Inc. purchased a new stake in Sothebys during the fourth quarter worth $232,000. Finally, Yorktown Management & Research Co Inc purchased a new stake in Sothebys during the third quarter worth $233,000. Institutional investors own 92.91% of the company’s stock.
Sothebys Company Profile
Sotheby’s is a global art business company. The Company is engaged in offering its clients opportunities to connect with and transact in a range of objects. The Company offers a range of art-related services, including the brokerage of private art sales, private jewelry sales through Sotheby’s Diamonds, private selling exhibitions at its galleries, art-related financing, and art advisory services, as well as retail wine locations in New York and Hong Kong.
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