Investors Buy High Volume of Calumet Specialty Products Partners Call Options (NASDAQ:CLMT)

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) was the recipient of some unusual options trading on Monday. Stock traders acquired 35,552 call options on the stock. This is an increase of 330% compared to the average volume of 8,270 call options.

Insider Activity

In other news, Director Jennifer Straumins sold 37,861 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.42, for a total transaction of $810,982.62. Following the completion of the sale, the director now owns 1,184,589 shares of the company’s stock, valued at $25,373,896.38. This represents a 3.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.91% of the company’s stock.

Calumet Specialty Products Partners Stock Performance

CLMT opened at $15.88 on Wednesday. Calumet Specialty Products Partners has a fifty-two week low of $9.97 and a fifty-two week high of $25.29. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -5.75 and a beta of 1.88. The firm’s fifty day moving average is $19.59 and its 200 day moving average is $19.00.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com raised shares of Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. TD Cowen reduced their price objective on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, November 11th. HC Wainwright raised their target price on Calumet Specialty Products Partners from $25.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, January 13th. UBS Group lowered Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and cut their price target for the company from $20.50 to $15.00 in a report on Tuesday, February 4th. Finally, Wells Fargo & Company raised their price objective on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, Calumet Specialty Products Partners presently has a consensus rating of “Hold” and an average price target of $23.60.

About Calumet Specialty Products Partners

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.