Stock Traders Buy High Volume of Hudson Pacific Properties Put Options (NYSE:HPP)

Hudson Pacific Properties, Inc. (NYSE:HPP) saw unusually large options trading on Tuesday. Traders bought 5,834 put options on the company. This represents an increase of 600% compared to the average volume of 834 put options.

Hudson Pacific Properties Stock Down 5.3 %

HPP traded down $0.19 during trading hours on Tuesday, hitting $3.40. 1,018,676 shares of the company’s stock were exchanged, compared to its average volume of 2,441,419. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. Hudson Pacific Properties has a 12-month low of $3.01 and a 12-month high of $9.85. The firm has a market cap of $480.18 million, a P/E ratio of -1.72 and a beta of 1.31. The firm has a 50 day moving average of $4.44 and a 200 day moving average of $4.86.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HPP shares. The Goldman Sachs Group lowered their price target on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Bank of America lowered their target price on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research note on Thursday, August 22nd. Wolfe Research downgraded Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Jefferies Financial Group cut shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and reduced their target price for the stock from $5.50 to $5.00 in a report on Tuesday, November 12th. Finally, Wells Fargo & Company decreased their price target on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Hudson Pacific Properties currently has a consensus rating of “Hold” and an average price target of $6.17.

Insider Buying and Selling

In other news, Director Jonathan M. Glaser sold 9,287 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $5.20, for a total value of $48,292.40. Following the completion of the sale, the director now owns 3,713 shares in the company, valued at approximately $19,307.60. This trade represents a 71.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andy Wattula sold 9,356 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the completion of the sale, the chief operating officer now directly owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. The trade was a 13.29 % decrease in their position. The disclosure for this sale can be found here. 3.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HPP. Blue Trust Inc. increased its stake in Hudson Pacific Properties by 549.1% in the third quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 5,013 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Hudson Pacific Properties in the 3rd quarter valued at about $44,000. Stifel Financial Corp acquired a new stake in shares of Hudson Pacific Properties in the 3rd quarter valued at about $48,000. Key Client Fiduciary Advisors LLC purchased a new position in Hudson Pacific Properties during the 2nd quarter worth approximately $53,000. Finally, MQS Management LLC acquired a new position in Hudson Pacific Properties during the third quarter worth approximately $58,000. 97.58% of the stock is currently owned by hedge funds and other institutional investors.

About Hudson Pacific Properties

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.