Schaeffer's Trading Floor Blog

Biggest Movers: Life Time Fitness, Inc., PVH Corp, and UniPixel Inc

LTM, PVH, and UNXL are moving sharply in Thursday's trading

by 6/5/2014 2:05 PM
Stocks quoted in this article:

In early afternoon trading, three of the top market movers are gym operator Life Time Fitness, Inc. (NYSE:LTM), apparel company PVH Corp (NYSE:PVH), and performance engineered film concern UniPixel Inc (NASDAQ:UNXL). Here's a quick roundup of how this trio of names is performing on the charts so far.

  • LTM is off 11.5% at $46 this afternoon, bringing the shares solidly into the red on a year-over-year basis. Prompting the move lower was a downgrade to "neutral" from "overweight" this morning at Piper Jaffray. Life Time Fitness, Inc.'s intraday skid is likely being cheered by short sellers. More than one-quarter of the equity's float is sold short, and would take four weeks to cover, at the average daily trading volume.

  • PVH has shed 7% to trade at $121.60, after last night reporting a first-quarter earnings miss and lowering its full-year guidance. In the wake of the disappointing news, Brean Capital cut the stock's 12-month price target to $145 from $150. In PVH Corp's options pits, short-term puts have been the contracts of choice lately. The security's Schaeffer's put/call open interest ratio (SOIR) of 1.58 indicates put open interest handily outdistances call open interest, among options set to expire in the next three months. What's more, PVH's SOIR is just 3 percentage points from an annual put-skewed high.

  • Unlike the first two names, UNXL is soaring this afternoon, tacking on 33.5% to wink at the $7.62 level. An analyst from Ladenburg Thalmann & Co speculates the rally is due to rising expectations for the shares, after the company announced it will hold an operational update conference call on Wednesday, June 25. Nevertheless, UniPixel Inc remains almost 24% lower on a year-to-date basis, and is struggling to hurdle overhead resistance at its 100-day moving average -- currently located at $7.99. On the options front, the equity sports a mind-blowing 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 52.81, which ranks in the 99th percentile of its annual range. However, some of this call buying may have been at the hands of short sellers; nearly 42% of the stock's float is sold short, which would take close to three weeks to buy back, at the typical daily volume.

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