Investors Buy High Volume of Put Options on Century Aluminum (NASDAQ:CENX)

Century Aluminum (NASDAQ:CENX - Get Free Report) was the target of unusually large options trading activity on Monday. Stock investors purchased 7,268 put options on the company. This represents an increase of approximately 473% compared to the typical volume of 1,269 put options.

Analyst Ratings Changes

CENX has been the subject of a number of recent research reports. BMO Capital Markets increased their price objective on Century Aluminum from $16.00 to $18.00 and gave the company a "market perform" rating in a research report on Tuesday, November 5th. Wolfe Research upgraded Century Aluminum from a "peer perform" rating to an "outperform" rating and set a $27.00 price target on the stock in a report on Tuesday, December 3rd. B. Riley upped their target price on shares of Century Aluminum from $22.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Century Aluminum from a "sell" rating to a "hold" rating in a research report on Saturday, November 9th.

Insider Buying and Selling

In other Century Aluminum news, CEO Jesse E. Gary sold 29,243 shares of the firm's stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $18.97, for a total value of $554,739.71. Following the sale, the chief executive officer now directly owns 50,753 shares in the company, valued at approximately $962,784.41. This trade represents a 36.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.68% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in Century Aluminum by 39.6% in the 3rd quarter. GAMMA Investing LLC now owns 4,347 shares of the industrial products company's stock valued at $71,000 after buying an additional 1,233 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Century Aluminum by 5.0% in the second quarter. The Manufacturers Life Insurance Company now owns 27,893 shares of the industrial products company's stock worth $467,000 after buying an additional 1,335 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Century Aluminum by 159.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,256 shares of the industrial products company's stock worth $59,000 after acquiring an additional 2,000 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Century Aluminum in the fourth quarter worth $39,000. Finally, Franklin Resources Inc. lifted its stake in Century Aluminum by 7.9% during the third quarter. Franklin Resources Inc. now owns 30,115 shares of the industrial products company's stock worth $524,000 after purchasing an additional 2,198 shares during the last quarter. 61.59% of the stock is owned by institutional investors.

Century Aluminum Stock Up 6.7 %

Shares of NASDAQ:CENX traded up $1.36 during midday trading on Thursday, reaching $21.52. 1,084,924 shares of the company were exchanged, compared to its average volume of 1,480,562. The stock has a fifty day simple moving average of $19.50 and a two-hundred day simple moving average of $17.75. Century Aluminum has a fifty-two week low of $9.65 and a fifty-two week high of $25.39. The company has a quick ratio of 0.56, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. The firm has a market cap of $2.00 billion, a PE ratio of 7.19 and a beta of 2.50.

Century Aluminum Company Profile

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.