Conn’s, Inc. (NASDAQ:CONN) major shareholder Harriet C. Stephens bought 23,000 shares of the firm’s stock in a transaction on Monday, October 16th. The shares were acquired at an average price of $25.50 per share, for a total transaction of $586,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Conn’s, Inc. (CONN) traded down 1.10% during trading on Friday, reaching $31.35. 279,165 shares of the company traded hands. Conn’s, Inc. has a 12-month low of $7.75 and a 12-month high of $32.90. The firm’s 50-day moving average is $25.21 and its 200-day moving average is $19.99. The stock’s market capitalization is $978.31 million.
Conn’s (NASDAQ:CONN) last announced its quarterly earnings data on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.28. The firm had revenue of $366.65 million during the quarter, compared to analyst estimates of $371.97 million. Conn’s had a negative net margin of 0.14% and a positive return on equity of 1.08%. The business’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.04) EPS. On average, equities analysts predict that Conn’s, Inc. will post $0.73 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in shares of Conn’s in the 2nd quarter worth approximately $2,202,000. Point72 Asset Management L.P. lifted its holdings in shares of Conn’s by 77.5% in the 1st quarter. Point72 Asset Management L.P. now owns 400,000 shares of the specialty retailer’s stock worth $3,500,000 after acquiring an additional 174,600 shares during the last quarter. UBS Group AG lifted its holdings in shares of Conn’s by 1.8% in the 1st quarter. UBS Group AG now owns 82,122 shares of the specialty retailer’s stock worth $719,000 after acquiring an additional 1,431 shares during the last quarter. Luzich Partners LLC lifted its holdings in shares of Conn’s by 3.8% in the 2nd quarter. Luzich Partners LLC now owns 305,822 shares of the specialty retailer’s stock worth $5,841,000 after acquiring an additional 11,210 shares during the last quarter. Finally, Lebenthal Lisanti Capital Growth LLC bought a new stake in shares of Conn’s in the 2nd quarter worth approximately $640,000. Hedge funds and other institutional investors own 70.76% of the company’s stock.
A number of analysts have recently weighed in on CONN shares. Zacks Investment Research downgraded shares of Conn’s from a “strong-buy” rating to a “hold” rating in a report on Monday, July 3rd. Stifel Nicolaus downgraded shares of Conn’s from a “buy” rating to a “hold” rating and upped their price target for the stock from $26.00 to $30.00 in a report on Monday, October 9th. BidaskClub raised shares of Conn’s from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. UBS AG raised shares of Conn’s from a “market perform” rating to an “outperform” rating in a report on Friday, September 29th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Conn’s in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Conn’s presently has a consensus rating of “Buy” and an average target price of $33.33.
Conn’s Company Profile
Conn’s, Inc is a specialty retailer that offers a selection of consumer goods and related services in addition to a credit solution for its core credit constrained consumers. The Company operates through two segments: retail and credit. The Retail segment includes product categories, such as furniture and mattress, including furniture and related accessories for the living room, dining room and bedroom; home appliance, including refrigerators, freezers, washers, dryers, dishwashers and ranges; Consumer electronics, including liquid-crystal-display (LED), organic LED (OLED), Ultra high definition (HD) and Internet-ready televisions, and home office, including computers, printers and accessories.
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