Millennium Management LLC grew its position in shares of Conn’s Inc (NASDAQ:CONN) by 485.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 664,210 shares of the specialty retailer’s stock after buying an additional 550,663 shares during the quarter. Millennium Management LLC owned approximately 2.10% of Conn’s worth $21,919,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of CONN. Swiss National Bank grew its stake in Conn’s by 8.6% during the first quarter. Swiss National Bank now owns 35,200 shares of the specialty retailer’s stock worth $1,197,000 after buying an additional 2,800 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Conn’s by 7.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 123,281 shares of the specialty retailer’s stock worth $4,192,000 after buying an additional 8,281 shares during the last quarter. Northern Trust Corp grew its stake in shares of Conn’s by 2.1% during the first quarter. Northern Trust Corp now owns 249,609 shares of the specialty retailer’s stock valued at $8,487,000 after purchasing an additional 5,241 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Conn’s by 40.1% during the first quarter. JPMorgan Chase & Co. now owns 415,767 shares of the specialty retailer’s stock valued at $14,136,000 after purchasing an additional 119,075 shares during the last quarter. Finally, Cambria Investment Management L.P. bought a new stake in shares of Conn’s during the first quarter valued at approximately $412,000. 67.07% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Bob L. Martin sold 8,000 shares of the stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $37.50, for a total value of $300,000.00. Following the transaction, the director now directly owns 49,265 shares in the company, valued at $1,847,437.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Schofman sold 2,000 shares of the stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $36.50, for a total transaction of $73,000.00. The disclosure for this sale can be found here. Insiders sold 16,000 shares of company stock worth $599,440 over the last 90 days. 3.34% of the stock is currently owned by company insiders.
CONN has been the topic of several research analyst reports. BidaskClub raised shares of Conn’s from a “sell” rating to a “hold” rating in a research note on Thursday, June 7th. Stifel Nicolaus increased their price target on shares of Conn’s from $30.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, June 8th. ValuEngine raised shares of Conn’s from a “hold” rating to a “buy” rating in a research note on Friday, June 8th. Zacks Investment Research raised shares of Conn’s from a “hold” rating to a “strong-buy” rating and set a $38.00 price target on the stock in a research note on Tuesday, July 3rd. Finally, KeyCorp increased their price target on shares of Conn’s from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, July 10th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Conn’s presently has a consensus rating of “Buy” and a consensus target price of $41.31.
CONN opened at $35.00 on Thursday. Conn’s Inc has a one year low of $22.10 and a one year high of $42.65. The company has a current ratio of 4.83, a quick ratio of 3.86 and a debt-to-equity ratio of 1.61. The company has a market cap of $1.11 billion, a PE ratio of 20.41, a P/E/G ratio of 0.63 and a beta of 1.63.
Conn’s (NASDAQ:CONN) last released its quarterly earnings results on Tuesday, September 4th. The specialty retailer reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.16. Conn’s had a net margin of 2.25% and a return on equity of 10.05%. The business had revenue of $384.60 million for the quarter, compared to analysts’ expectations of $383.96 million. During the same period in the prior year, the firm earned $0.26 earnings per share. Conn’s’s revenue was up 4.9% compared to the same quarter last year. equities analysts anticipate that Conn’s Inc will post 2.41 EPS for the current fiscal 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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