Goodyear Tire & Rubber Target of Unusually High Options Trading (NASDAQ:GT)

The Goodyear Tire & Rubber Company (NASDAQ:GT) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 19,427 call options on the stock. This is an increase of approximately 447% compared to the typical daily volume of 3,553 call options.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in Goodyear Tire & Rubber by 158.6% in the third quarter. Barclays PLC now owns 975,634 shares of the company’s stock valued at $8,635,000 after acquiring an additional 598,330 shares during the last quarter. Geode Capital Management LLC lifted its stake in Goodyear Tire & Rubber by 1.2% in the third quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock valued at $62,438,000 after acquiring an additional 86,227 shares during the last quarter. FMR LLC lifted its stake in Goodyear Tire & Rubber by 28.1% in the third quarter. FMR LLC now owns 842,822 shares of the company’s stock valued at $7,459,000 after acquiring an additional 184,770 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in Goodyear Tire & Rubber in the third quarter valued at $649,000. Finally, Landscape Capital Management L.L.C. lifted its stake in Goodyear Tire & Rubber by 69.5% in the third quarter. Landscape Capital Management L.L.C. now owns 142,790 shares of the company’s stock valued at $1,264,000 after acquiring an additional 58,526 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 0.5 %

Shares of Goodyear Tire & Rubber stock traded down $0.04 on Tuesday, hitting $8.20. The company had a trading volume of 1,701,905 shares, compared to its average volume of 4,544,795. The firm has a market capitalization of $2.34 billion, a P/E ratio of -7.87 and a beta of 1.79. Goodyear Tire & Rubber has a twelve month low of $7.27 and a twelve month high of $13.86. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.14 and a quick ratio of 0.65. The stock has a 50-day moving average of $9.18 and a 200-day moving average of $8.94.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GT. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.30.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.