Sothebys (NYSE:BID) Director Olivier Reza sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $51.14, for a total value of $511,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Olivier Reza also recently made the following trade(s):
- On Wednesday, March 7th, Olivier Reza sold 65,000 shares of Sothebys stock. The shares were sold at an average price of $51.64, for a total value of $3,356,600.00.
Sothebys (BID) traded up $0.51 during trading hours on Friday, reaching $53.31. The company’s stock had a trading volume of 425,407 shares, compared to its average volume of 405,964. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 1.38. Sothebys has a one year low of $42.78 and a one year high of $57.95. The firm has a market capitalization of $2,784.63, a PE ratio of 24.24 and a beta of 1.86.
Sothebys (NYSE:BID) last released its quarterly earnings results on Thursday, March 1st. The specialty retailer reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.07. Sothebys had a return on equity of 22.31% and a net margin of 12.01%. The company had revenue of $315.56 million for the quarter, compared to analysts’ expectations of $306.70 million. During the same period in the prior year, the firm earned $1.35 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. equities analysts predict that Sothebys will post 2.51 earnings per share for the current fiscal year.
Sothebys declared that its board has approved a share repurchase program on Thursday, March 1st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the specialty retailer to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
A number of research analysts recently commented on BID shares. Zacks Investment Research cut Sothebys from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Cowen reiterated a “buy” rating and issued a $63.00 price objective on shares of Sothebys in a report on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $61.00.
Large investors have recently added to or reduced their stakes in the business. RWC Asset Management LLP raised its stake in shares of Sothebys by 22.5% in the third quarter. RWC Asset Management LLP now owns 657,256 shares of the specialty retailer’s stock valued at $30,306,000 after acquiring an additional 120,655 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Sothebys by 22.0% in the third quarter. Ameriprise Financial Inc. now owns 344,247 shares of the specialty retailer’s stock valued at $15,874,000 after acquiring an additional 62,185 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Sothebys by 36.6% in the third quarter. SG Americas Securities LLC now owns 123,060 shares of the specialty retailer’s stock valued at $5,674,000 after acquiring an additional 32,989 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of Sothebys by 57.8% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,273,438 shares of the specialty retailer’s stock valued at $65,709,000 after acquiring an additional 466,195 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Sothebys by 145.3% in the third quarter. JPMorgan Chase & Co. now owns 118,780 shares of the specialty retailer’s stock valued at $5,493,000 after acquiring an additional 70,359 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.
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Sothebys Company Profile
Sotheby’s is a global art business company. The Company is engaged in offering its clients opportunities to connect with and transact in a range of objects. The Company offers a range of art-related services, including the brokerage of private art sales, private jewelry sales through Sotheby’s Diamonds, private selling exhibitions at its galleries, art-related financing, and art advisory services, as well as retail wine locations in New York and Hong Kong.
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