A.R.T. Advisors LLC raised its holdings in Conn’s Inc (NASDAQ:CONN) by 72.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,400 shares of the specialty retailer’s stock after buying an additional 11,131 shares during the period. A.R.T. Advisors LLC owned about 0.08% of Conn’s worth $897,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in CONN. QS Investors LLC bought a new stake in Conn’s in the fourth quarter valued at approximately $194,000. Capital Fund Management S.A. bought a new stake in Conn’s in the fourth quarter valued at approximately $213,000. Two Sigma Investments LP bought a new stake in Conn’s in the fourth quarter valued at approximately $229,000. Paloma Partners Management Co bought a new stake in Conn’s in the fourth quarter valued at approximately $232,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Conn’s in the fourth quarter valued at approximately $239,000. Hedge funds and other institutional investors own 67.76% of the company’s stock.
CONN has been the topic of several research analyst reports. Zacks Investment Research upgraded Conn’s from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 16th. BidaskClub upgraded Conn’s from a “hold” rating to a “buy” rating in a research note on Wednesday, April 4th. ValuEngine upgraded Conn’s from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Finally, Stifel Nicolaus increased their target price on Conn’s from $30.00 to $35.00 and gave the stock a “hold” rating in a research note on Friday, June 8th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Conn’s currently has a consensus rating of “Buy” and an average price target of $38.33.
In related news, insider Brian Daly purchased 5,100 shares of Conn’s stock in a transaction that occurred on Monday, April 9th. The shares were acquired at an average price of $27.87 per share, with a total value of $142,137.00. Following the completion of the transaction, the insider now directly owns 55,206 shares of the company’s stock, valued at approximately $1,538,591.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO George L. Bchara purchased 7,390 shares of Conn’s stock in a transaction that occurred on Tuesday, April 10th. The shares were bought at an average cost of $27.41 per share, for a total transaction of $202,559.90. Following the transaction, the chief accounting officer now directly owns 42,816 shares of the company’s stock, valued at $1,173,586.56. The disclosure for this purchase can be found here. 3.34% of the stock is currently owned by company insiders.
Shares of NASDAQ CONN opened at $34.50 on Wednesday. The company has a market cap of $1.11 billion, a PE ratio of 36.32, a PEG ratio of 0.69 and a beta of 1.66. The company has a debt-to-equity ratio of 1.69, a quick ratio of 4.08 and a current ratio of 5.06. Conn’s Inc has a 1-year low of $16.55 and a 1-year high of $37.95.
Conn’s (NASDAQ:CONN) last announced its earnings results on Monday, June 4th. The specialty retailer reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.13. The company had revenue of $358.40 million for the quarter, compared to analyst estimates of $355.10 million. Conn’s had a return on equity of 8.37% and a net margin of 1.43%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) earnings per share. equities research analysts predict that Conn’s Inc will post 2.22 earnings per share for the current year.
Conn’s Company Profile
Conn's, Inc operates as a specialty retailer of durable consumer goods and related services in the United States. The company operates through two segments, Retail and Credit. Its stores provide furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges; consumer electronics comprising televisions, Blu-ray players, home theaters, and portable audio equipment; and home office products consisting of computers, printers, and accessories.
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