Rover Group Target of Unusually High Options Trading (NASDAQ:ROVR)

Rover Group, Inc. (NASDAQ:ROVR) saw some unusual options trading on Wednesday. Traders purchased 17,748 call options on the stock. This is an increase of approximately 6,623% compared to the typical volume of 264 call options.

Institutional Investors Weigh In On Rover Group

A number of large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Rover Group by 0.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 723,980 shares of the company’s stock worth $3,555,000 after buying an additional 2,114 shares during the period. Tower Research Capital LLC TRC boosted its position in Rover Group by 75.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,138 shares of the company’s stock valued at $30,000 after acquiring an additional 2,645 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Rover Group by 26.6% in the 4th quarter. Victory Capital Management Inc. now owns 14,417 shares of the company’s stock worth $157,000 after acquiring an additional 3,025 shares during the last quarter. Legal & General Group Plc raised its holdings in Rover Group by 4.7% in the 4th quarter. Legal & General Group Plc now owns 91,668 shares of the company’s stock worth $997,000 after acquiring an additional 4,146 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in Rover Group by 42.2% during the 2nd quarter. Royal Bank of Canada now owns 14,315 shares of the company’s stock valued at $70,000 after buying an additional 4,245 shares during the last quarter. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Rover Group Stock Performance

NASDAQ:ROVR opened at $10.99 on Thursday. The stock has a fifty day moving average of $10.98 and a 200 day moving average of $9.84. Rover Group has a 52-week low of $3.75 and a 52-week high of $11.10. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 219.80 and a beta of 1.94.

About Rover Group

Rover Group, Inc operates an online marketplace for pet care worldwide. It connects pet parents with pet providers who offer overnight services, including boarding and in-home pet sitting, as well as daytime services, such as doggy daycare, dog walking, drop-in visits, grooming, and training. The company was founded in 2011 and is headquartered in Seattle, Washington.