Stock Traders Buy Large Volume of Put Options on Cheetah Mobile (CMCM)

Cheetah Mobile Inc (NYSE:CMCM) saw some unusual options trading activity on Wednesday. Stock traders acquired 1,241 put options on the company. This represents an increase of 1,752% compared to the typical volume of 67 put options.

A number of institutional investors and hedge funds have recently made changes to their positions in CMCM. Sei Investments Co. acquired a new position in shares of Cheetah Mobile during the first quarter worth $113,000. Advisors Preferred LLC acquired a new position in shares of Cheetah Mobile during the fourth quarter worth $108,000. Global X Management Co. LLC acquired a new position in shares of Cheetah Mobile during the first quarter worth $189,000. Smith Asset Management Group LP acquired a new position in shares of Cheetah Mobile during the fourth quarter worth $220,000. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Cheetah Mobile by 386.2% during the first quarter. BNP Paribas Arbitrage SA now owns 27,503 shares of the software maker’s stock worth $368,000 after buying an additional 37,113 shares in the last quarter. Institutional investors and hedge funds own 5.86% of the company’s stock.

Shares of Cheetah Mobile opened at $12.83 on Friday, according to Marketbeat Ratings. Cheetah Mobile has a one year low of $11.75 and a one year high of $12.20. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 8.30 and a beta of 3.46.

Cheetah Mobile (NYSE:CMCM) last announced its quarterly earnings data on Monday, March 19th. The software maker reported $1.12 EPS for the quarter, beating the consensus estimate of $0.21 by $0.91. Cheetah Mobile had a net margin of 27.66% and a return on equity of 37.29%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis.

A number of equities research analysts have recently weighed in on CMCM shares. Macquarie downgraded shares of Cheetah Mobile from a “neutral” rating to an “underperform” rating in a research report on Tuesday, March 13th. Credit Suisse Group set a $13.00 price target on shares of Cheetah Mobile and gave the company a “hold” rating in a research report on Monday, March 19th. TheStreet upgraded shares of Cheetah Mobile from a “c+” rating to a “b-” rating in a research report on Thursday, January 18th. Finally, ValuEngine upgraded shares of Cheetah Mobile from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $12.25.

About Cheetah Mobile

Cheetah Mobile Inc operates a platform that offers mobile and personal computer (PC) applications for its users and global content promotional channels. The company's suite of utility applications optimizes mobile and PC Internet system performance and provides real time protection against known and unknown security threats.

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