Dimensional Fund Advisors LP decreased its holdings in Conn's Inc (NASDAQ:CONN) by 2.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,482,600 shares of the specialty retailer’s stock after selling 34,511 shares during the period. Dimensional Fund Advisors LP owned about 4.75% of Conn's worth $41,731,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Russell Investments Group Ltd. increased its position in shares of Conn's by 269.9% during the third quarter. Russell Investments Group Ltd. now owns 426,473 shares of the specialty retailer’s stock worth $12,005,000 after purchasing an additional 311,178 shares in the last quarter. EAM Investors LLC acquired a new position in shares of Conn's during the second quarter worth $4,168,000. Prudential Financial Inc. acquired a new position in shares of Conn's during the third quarter worth $6,050,000. State Street Corp increased its position in shares of Conn's by 45.9% during the second quarter. State Street Corp now owns 566,793 shares of the specialty retailer’s stock worth $10,828,000 after purchasing an additional 178,277 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Conn's by 37,046.2% during the third quarter. JPMorgan Chase & Co. now owns 163,072 shares of the specialty retailer’s stock worth $4,182,000 after purchasing an additional 162,633 shares in the last quarter. 71.49% of the stock is owned by institutional investors.
In related news, major shareholder Anchorage Capital Group, L.L.C sold 1,600,000 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $34.05, for a total value of $54,480,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David Schofman bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was purchased at an average cost of $32.20 per share, for a total transaction of $32,200.00. Following the completion of the transaction, the director now owns 20,384 shares in the company, valued at $656,364.80. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 66,000 shares of company stock worth $1,685,500. 3.48% of the stock is owned by insiders.
Conn's Inc (CONN) opened at $34.70 on Thursday. The company has a debt-to-equity ratio of 1.84, a current ratio of 3.94 and a quick ratio of 3.04. Conn's Inc has a 12-month low of $7.75 and a 12-month high of $37.80. The stock has a market capitalization of $1,090.00, a price-to-earnings ratio of 347.00, a P/E/G ratio of 1.72 and a beta of 1.86.
Conn's (NASDAQ:CONN) last released its earnings results on Thursday, December 7th. The specialty retailer reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.14. Conn's had a return on equity of 2.64% and a net margin of 0.21%. The firm had revenue of $373.20 million for the quarter, compared to the consensus estimate of $372.40 million. During the same period in the prior year, the firm earned ($0.08) EPS. The firm’s revenue was down 1.0% on a year-over-year basis. research analysts predict that Conn's Inc will post 0.88 earnings per share for the current year.
CONN has been the topic of a number of recent analyst reports. KeyCorp reaffirmed an “overweight” rating and set a $42.00 price target (up from $24.00) on shares of Conn's in a research report on Wednesday, October 18th. UBS Group raised Conn's from a “market perform” rating to an “outperform” rating in a research report on Friday, September 29th. Zacks Investment Research downgraded Conn's from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Oppenheimer reaffirmed a “buy” rating and set a $40.00 price target on shares of Conn's in a research report on Thursday, December 7th. Finally, BidaskClub raised Conn's from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $37.50.
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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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