Garmin Ltd.’s Trend Up, Especially After This Options Activity

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In today’s session Garmin Ltd. (GRMN) registered an unusually high (532) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2015 call, expecting serious GRMN increase. With 532 contracts traded and 2644 open interest for the Dec, 15 contract, it seems this is a quite bullish bet. The option with symbol: GRMN151218C00035000 closed last at: $2.23 or 8.2% down. The stock decreased 3.17% or $1.16 during the last trading session, hitting $35.45. About 2.03M shares traded hands or 65.04% up from the average. Garmin Ltd. (NASDAQ:GRMN) has declined 19.20% since May 8, 2015 and is downtrending. It has underperformed by 16.18% the S&P500.

Out of 12 analysts covering Garmin Ltd. (NASDAQ:GRMN), 4 rate it “Buy”, 0 “Sell”, while 14 “Hold”. This means 22% are positive. Garmin Ltd. was the topic in 12 analyst reports since July 30, 2015 according to StockzIntelligence Inc.

The institutional sentiment decreased to 0.75 in 2015 Q3. Its down 0.04, from 0.79 in 2015Q2. The ratio turned negative, as 62 funds sold all Garmin Ltd. shares owned while 107 reduced positions. 35 funds bought stakes while 91 increased positions. They now own 78.88 million shares or 5.12% more from 75.04 million shares in 2015Q2.

P.A.W. Capital Corp holds 2.67% of its portfolio in Garmin Ltd. for 65,000 shares. Valicenti Advisory Services Inc owns 84,770 shares or 2.01% of their US portfolio. Moreover, Gilman Hill Asset Management Llc has 1.58% invested in the company for 84,906 shares. The Minnesota-based Disciplined Growth Investors Inc Mn has invested 1.55% in the stock. Diversified Investment Strategies Llc, a Louisiana-based fund reported 32,376 shares.

Since June 1, 2015, the stock had 0 insider buys, and 2 insider sales for $3.03 million net activity. Eller Donald sold 70,000 shares worth $2.73 million. Pemble Clifton A sold 6,469 shares worth $303,137. Huang Pao-Chang sold 7,890 shares worth $362,230. Bartel Danny J sold 2,689 shares worth $125,227. The insider Straub Philip sold 4,243 shares worth $195,051.

Garmin Ltd. is a provider of navigation, communications and information devices, which are enabled by Global Positioning System (GPS) technology. The company has a market cap of $7.07 billion. The Firm operates through five business divisions: marine, outdoor, fitness, automotive/mobile, and aviation markets. It has 12.73 P/E ratio. It designs, develops, makes, markets and distributes a family of hand-held, wearable, portable and fixed-mount GPS-enabled products and other navigation, communications, sensor and information products.

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