Tile Shop Sees Unusually High Options Volume (NASDAQ:TTS)

Tile Shop Holdings, Inc. (NASDAQ:TTS) saw unusually large options trading on Monday. Traders acquired 810 call options on the stock. This represents an increase of approximately 853% compared to the average volume of 85 call options.

Shares of Tile Shop (NASDAQ:TTS) remained flat at $$9.60 during mid-day trading on Friday. The company’s stock had a trading volume of 396,955 shares, compared to its average volume of 856,141. Tile Shop has a fifty-two week low of $8.08 and a fifty-two week high of $22.40. The company has a current ratio of 1.55, a quick ratio of 0.39 and a debt-to-equity ratio of 0.04. The firm has a market cap of $500.72, a PE ratio of 26.67, a price-to-earnings-growth ratio of 0.94 and a beta of 1.73.

Tile Shop (NASDAQ:TTS) last issued its quarterly earnings results on Tuesday, October 17th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. The business had revenue of $84.40 million during the quarter, compared to analyst estimates of $84.05 million. Tile Shop had a return on equity of 15.40% and a net margin of 5.38%. Tile Shop’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS. equities research analysts expect that Tile Shop will post 0.41 EPS for the current year.

TTS has been the topic of several research analyst reports. Zacks Investment Research raised Tile Shop from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. BidaskClub cut Tile Shop from a “buy” rating to a “hold” rating in a report on Thursday, September 14th. Piper Jaffray Companies cut Tile Shop from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $16.00 to $14.00 in a report on Wednesday, September 27th. Telsey Advisory Group cut Tile Shop from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $17.00 to $7.00 in a report on Tuesday, October 3rd. Finally, CJS Securities cut Tile Shop from an “outperform” rating to a “market perform” rating and set a $10.00 target price on the stock. in a report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $8.92.

In other Tile Shop news, Director Todd Krasnow acquired 10,000 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were acquired at an average cost of $9.01 per share, with a total value of $90,100.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kirk Geadelmann acquired 5,000 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was acquired at an average cost of $8.75 per share, for a total transaction of $43,750.00. The disclosure for this purchase can be found here. Insiders purchased a total of 328,795 shares of company stock worth $2,794,288 in the last 90 days. 24.30% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Bank of Montreal Can grew its position in shares of Tile Shop by 7.7% during the second quarter. Bank of Montreal Can now owns 5,814 shares of the company’s stock valued at $120,000 after purchasing an additional 416 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Tile Shop by 3.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 7,780 shares of the company’s stock valued at $161,000 after purchasing an additional 260 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Tile Shop by 13.0% during the second quarter. Victory Capital Management Inc. now owns 9,236 shares of the company’s stock valued at $191,000 after purchasing an additional 1,065 shares in the last quarter. HAP Trading LLC purchased a new position in shares of Tile Shop during the second quarter valued at about $208,000. Finally, HL Financial Services LLC purchased a new position in shares of Tile Shop during the third quarter valued at about $130,000. Hedge funds and other institutional investors own 66.77% of the company’s stock.

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About Tile Shop

Tile Shop Holdings, Inc operates as a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. It offers approximately 4,000 products, including ceramic, porcelain, glass, cement, wood look, and metal tiles; and marble, granite, quartz, sandstone, travertine, slate, and onyx tiles primarily under the Rush River and Fired Earth brand names.

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