Simon Property Group Unusual Options Activity For July 19
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Simon Property Group (NYSE:SPG) by a whale investor. Out of the 10 unusual trades detected, 70% were bearish and 30% bullish. The total amount for the 8 puts was $391,923 and for the 2 calls was $125,800. The price target range for SPG over the last 3 months has been $110.0 to $130.0. The current price of SPG is up 1.64% at $123.52. UBS, Wolfe Research, and Stifel have maintained their ratings on SPG with price targets of $121, $127, and $139 respectively.
July 19, 2023 | 8:01 pm
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Simon Property Group (NYSE:SPG) has seen significant bearish activity from a whale investor. The price target range for SPG over the last 3 months has been $110.0 to $130.0. The current price of SPG is up 1.64% at $123.52. UBS, Wolfe Research, and Stifel have maintained their ratings on SPG with price targets of $121, $127, and $139 respectively.
The bearish stance taken by a whale investor, who typically has significant influence, could potentially drive the stock price down in the short term. The price target range of $110.0 to $130.0 indicates a potential downside from the current price of $123.52. However, the maintained ratings and price targets from UBS, Wolfe Research, and Stifel suggest a potential upside, creating a mixed outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100