Sothebys (NYSE:BID) saw unusually large options trading activity on Thursday. Investors bought 2,899 put options on the stock. This represents an increase of 4,986% compared to the average daily volume of 57 put options.
Shares of BID opened at $39.18 on Friday. Sothebys has a one year low of $37.66 and a one year high of $60.16. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 17.41 and a beta of 1.71. The company has a quick ratio of 1.17, a current ratio of 1.24 and a debt-to-equity ratio of 1.89.
Sothebys (NYSE:BID) last announced its earnings results on Thursday, November 1st. The specialty retailer reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.16. Sothebys had a net margin of 10.21% and a return on equity of 21.41%. The company had revenue of $119.20 million during the quarter, compared to analysts’ expectations of $130.70 million. During the same period last year, the company posted ($0.45) earnings per share. The business’s revenue for the quarter was down 33.8% on a year-over-year basis. As a group, analysts anticipate that Sothebys will post 2.28 earnings per share for the current fiscal year.
In other news, insider Jr. Thomas S. Smith bought 15,250 shares of the firm’s stock in a transaction on Wednesday, November 28th. The stock was bought at an average cost of $40.96 per share, for a total transaction of $624,640.00. Following the completion of the acquisition, the insider now directly owns 119,725 shares in the company, valued at approximately $4,903,936. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 13.81% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. UBS Group AG boosted its holdings in shares of Sothebys by 50.1% during the first quarter. UBS Group AG now owns 2,878 shares of the specialty retailer’s stock worth $147,000 after purchasing an additional 961 shares during the period. Riverhead Capital Management LLC boosted its holdings in shares of Sothebys by 26.6% during the third quarter. Riverhead Capital Management LLC now owns 6,187 shares of the specialty retailer’s stock worth $304,000 after purchasing an additional 1,300 shares during the period. Radnor Capital Management LLC boosted its holdings in shares of Sothebys by 18.4% during the third quarter. Radnor Capital Management LLC now owns 8,880 shares of the specialty retailer’s stock worth $437,000 after purchasing an additional 1,380 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Sothebys by 16.7% during the third quarter. Pacer Advisors Inc. now owns 13,221 shares of the specialty retailer’s stock worth $650,000 after purchasing an additional 1,894 shares during the period. Finally, Capital Fund Management S.A. boosted its holdings in shares of Sothebys by 4.3% during the second quarter. Capital Fund Management S.A. now owns 46,478 shares of the specialty retailer’s stock worth $2,526,000 after purchasing an additional 1,937 shares during the period.
Several brokerages have commented on BID. Sidoti upgraded shares of Sothebys from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, November 27th. TheStreet cut shares of Sothebys from a “b” rating to a “c” rating in a report on Monday, November 5th. Zacks Investment Research cut shares of Sothebys from a “buy” rating to a “hold” rating in a report on Monday, October 29th. Finally, ValuEngine cut shares of Sothebys from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Sothebys presently has an average rating of “Buy” and an average price target of $60.00.
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Sotheby's operates as an auctioneer of authenticated fine art, decorative art, jewelry, wine, and collectibles in the United States, the United Kingdom, Hong Kong, China, Switzerland, France, and internationally. The company operates in two segments, Agency and Finance. The Agency segment accepts property on consignment; and matches sellers to buyers through the auction or private sale process.
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