Swiss National Bank maintained its position in Conn’s, Inc. (NASDAQ:CONN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,400 shares of the specialty retailer’s stock at the end of the first quarter. Swiss National Bank owned about 0.10% of Conn’s worth $284,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the stock. Metropolitan Life Insurance Co. NY raised its position in Conn’s by 839.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,138 shares of the specialty retailer’s stock valued at $204,000 after buying an additional 14,421 shares during the period. American Assets Investment Management LLC raised its position in Conn’s by 33.3% in the first quarter. American Assets Investment Management LLC now owns 40,000 shares of the specialty retailer’s stock valued at $350,000 after buying an additional 10,000 shares during the period. Putnam Investments LLC acquired a new position in Conn’s during the fourth quarter valued at approximately $521,000. Bank of Montreal Can acquired a new position in Conn’s during the first quarter valued at approximately $875,000. Finally, Russell Investments Group Ltd. acquired a new position in Conn’s during the fourth quarter valued at approximately $1,279,000. 61.32% of the stock is currently owned by hedge funds and other institutional investors.
Conn’s, Inc. (NASDAQ CONN) opened at 22.225 on Friday. Conn’s, Inc. has a one year low of $6.54 and a one year high of $22.85. The firm’s 50 day moving average price is $18.71 and its 200 day moving average price is $13.74. The stock’s market cap is $689.26 million.
Conn’s (NASDAQ:CONN) last released its earnings results on Tuesday, June 6th. The specialty retailer reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.17. The company had revenue of $355.80 million during the quarter, compared to the consensus estimate of $357.53 million. Conn’s had a negative net margin of 1.18% and a negative return on equity of 0.72%. The company’s revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.31) EPS. Equities analysts forecast that Conn’s, Inc. will post $0.49 earnings per share for the current year.
Several research firms recently commented on CONN. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Conn’s in a report on Saturday, April 8th. Stephens reissued an “overweight” rating and issued a $28.00 target price (up previously from $25.00) on shares of Conn’s in a report on Monday, July 17th. Zacks Investment Research raised Conn’s from a “hold” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a report on Wednesday, June 7th. ValuEngine raised Conn’s from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price objective (up previously from $19.00) on shares of Conn’s in a report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $22.50.
In related news, Director James H. Haworth sold 7,392 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $19.34, for a total transaction of $142,961.28. Following the completion of the sale, the director now owns 4,425 shares of the company’s stock, valued at approximately $85,579.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder W. R. Jr. Stephens acquired 12,000 shares of the stock in a transaction that occurred on Friday, July 14th. The shares were acquired at an average cost of $18.85 per share, with a total value of $226,200.00. The disclosure for this purchase can be found here. 3.60% of the stock is currently owned by insiders.
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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