Stock Traders Buy Large Volume of Call Options on Hudson Pacific Properties (NYSE:HPP)

Hudson Pacific Properties, Inc. (NYSE:HPP) was the recipient of unusually large options trading on Thursday. Stock investors purchased 5,334 call options on the company. This is an increase of 460% compared to the typical volume of 953 call options.

Hudson Pacific Properties Stock Performance

Shares of HPP opened at $2.93 on Friday. The stock has a market capitalization of $413.81 million, a P/E ratio of -1.40 and a beta of 1.27. Hudson Pacific Properties has a 12-month low of $2.39 and a 12-month high of $9.85. The firm’s 50 day moving average is $3.93 and its 200-day moving average is $4.64. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26.

Insider Buying and Selling

In other news, CEO Victor J. Coleman bought 50,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average price of $2.87 per share, for a total transaction of $143,500.00. Following the completion of the purchase, the chief executive officer now owns 487,451 shares in the company, valued at approximately $1,398,984.37. This trade represents a 11.43 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.95% of the company’s stock.

Institutional Investors Weigh In On Hudson Pacific Properties

A number of institutional investors have recently bought and sold shares of HPP. Millennium Management LLC increased its position in Hudson Pacific Properties by 282.7% in the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after buying an additional 1,319,869 shares during the period. Scion Asset Management LLC bought a new position in shares of Hudson Pacific Properties in the second quarter worth about $5,505,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Hudson Pacific Properties by 450.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,066,056 shares of the real estate investment trust’s stock worth $5,096,000 after buying an additional 872,538 shares during the period. GSA Capital Partners LLP grew its holdings in Hudson Pacific Properties by 1,822.5% during the third quarter. GSA Capital Partners LLP now owns 760,086 shares of the real estate investment trust’s stock valued at $3,633,000 after purchasing an additional 720,549 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Hudson Pacific Properties by 13.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock valued at $24,902,000 after acquiring an additional 630,932 shares in the last quarter. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on HPP shares. Jefferies Financial Group cut shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and reduced their target price for the company from $5.50 to $5.00 in a report on Tuesday, November 12th. Wells Fargo & Company cut their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 11th. Scotiabank decreased their price target on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Monday, August 26th. Finally, Piper Sandler lowered their target price on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.17.

Hudson Pacific Properties Company Profile

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.