Luxottica Group SpA (LUX) Sees Unusually-High Trading Volume
Shares of Luxottica Group SpA (NYSE:LUX) saw strong trading volume on Friday . 244,579 shares changed hands during mid-day trading, an increase of 152% from the previous session’s volume of 97,089 shares.The stock last traded at $49.54 and had previously closed at $50.17.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Luxottica Group SpA from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. Credit Suisse Group AG assumed coverage on Luxottica Group SpA in a research report on Wednesday, June 15th. They issued an “outperform” rating for the company. Raymond James Financial Inc. raised Luxottica Group SpA from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 4th. Finally, TheStreet cut Luxottica Group SpA from a “buy” rating to a “hold” rating in a research report on Tuesday, March 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold”.
The stock has a market capitalization of $23.80 billion and a PE ratio of 26.81. The company has a 50-day moving average of $50.98 and a 200 day moving average of $55.50.
Other hedge funds and institutional investors recently bought and sold shares of the company. WBI Investments Inc. bought a new position in Luxottica Group SpA during the fourth quarter valued at $1,510,000. Wells Fargo & Company MN raised its position in Luxottica Group SpA by 29.4% in the fourth quarter. Wells Fargo & Company MN now owns 20,133 shares of the company’s stock valued at $1,306,000 after buying an additional 4,571 shares during the period. Morgan Stanley raised its position in Luxottica Group SpA by 3.9% in the fourth quarter. Morgan Stanley now owns 172,562 shares of the company’s stock valued at $11,192,000 after buying an additional 6,537 shares during the period. Azimuth Capital Management LLC raised its position in Luxottica Group SpA by 7.2% in the fourth quarter. Azimuth Capital Management LLC now owns 52,885 shares of the company’s stock valued at $3,430,000 after buying an additional 3,530 shares during the period. Finally, Comerica Bank raised its position in Luxottica Group SpA by 5.0% in the fourth quarter. Comerica Bank now owns 25,974 shares of the company’s stock valued at $1,593,000 after buying an additional 1,231 shares during the period.
Luxottica Group S.p.A. is a holding company. The Company is engaged in the design, manufacture and distribution of fashion, luxury, sport and performance eyewear. The Company operates through two segments: manufacturing and wholesale distribution, and retail distribution. Through its manufacturing and wholesale distribution operations, the Company is engaged in design, manufacturing, wholesale distribution and marketing of brands and designer lines of prescription frames and sunglasses, as well as of performance optics products.
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