Citi has initiated coverage this week with a neutral rating and PT of $61. It is good to see the pick up in coverage . I suspect this will continue as USCR's one year performance numbers are noticeable versus the market.
Friday saw an interesting spread option trade. Someone sold 2,000 put contracts (i.e. 200,000 shares) for Feb. 2016 with a $12.5 strike and simultaneously bought the same amount of the $17.50. Both sides of the trade were done at $.35. Zero dollars in with significant upside leverage and of course the corresponding $2MM liability if the price were to pierce $12.50 by Feb. Thought some on this board might appreciate the idea.
Spring is the season for home sales, but it's the November-January period that's rally time for homebuilder stocks, says KBW, the team noting 75% of homebuilder returns occur during this period.Homebuilders, they say, historically outperform the market by 1.4% in November, 6.2% in December, and 6.4% in January.The reason isn't too difficult: Markets anticipate, and homebuilding stock buying comes ahead of heavier homebuyer activity.