Victory Capital Management Inc. reduced its position in Conn’s Inc (NASDAQ:CONN) by 63.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,220 shares of the specialty retailer’s stock after selling 5,593 shares during the period. Victory Capital Management Inc.’s holdings in Conn’s were worth $57,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CONN. SG Capital Management LLC acquired a new position in Conn’s during the 2nd quarter worth approximately $6,771,000. Morgan Stanley lifted its position in Conn’s by 21.6% during the 2nd quarter. Morgan Stanley now owns 1,048,751 shares of the specialty retailer’s stock worth $18,688,000 after acquiring an additional 186,498 shares in the last quarter. Vanguard Group Inc. lifted its position in Conn’s by 9.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,094,359 shares of the specialty retailer’s stock worth $37,321,000 after acquiring an additional 183,478 shares in the last quarter. Marshall Wace North America L.P. lifted its position in Conn’s by 229.7% during the 1st quarter. Marshall Wace North America L.P. now owns 186,050 shares of the specialty retailer’s stock worth $4,252,000 after acquiring an additional 129,617 shares in the last quarter. Finally, Rice Hall James & Associates LLC acquired a new position in Conn’s during the 2nd quarter worth approximately $1,295,000. 78.55% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Brian Daly sold 8,700 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $27.00, for a total value of $234,900.00. Following the completion of the sale, the insider now directly owns 47,482 shares in the company, valued at approximately $1,282,014. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Todd Renaud sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $24.67, for a total value of $74,010.00. Following the completion of the sale, the vice president now owns 35,141 shares of the company’s stock, valued at $866,928.47. The disclosure for this sale can be found here. Corporate insiders own 3.68% of the company’s stock.
Shares of CONN opened at $25.28 on Friday. The business’s 50 day moving average is $23.71 and its two-hundred day moving average is $21.71. Conn’s Inc has a 52-week low of $15.40 and a 52-week high of $33.41. The firm has a market cap of $730.59 million, a price-to-earnings ratio of 10.07, a PEG ratio of 0.40 and a beta of 2.12. The company has a quick ratio of 3.97, a current ratio of 5.01 and a debt-to-equity ratio of 2.01.
Conn’s (NASDAQ:CONN) last announced its earnings results on Tuesday, September 3rd. The specialty retailer reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.11. Conn’s had a return on equity of 14.27% and a net margin of 5.35%. The company had revenue of $401.10 million for the quarter, compared to analyst estimates of $398.10 million. During the same period in the prior year, the company posted $0.57 EPS. Conn’s’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities analysts expect that Conn’s Inc will post 2.73 earnings per share for the current fiscal year.
Several equities analysts recently commented on the company. KeyCorp set a $41.00 price target on Conn’s and gave the stock a “buy” rating in a research report on Wednesday, September 4th. BidaskClub lowered Conn’s from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Stifel Nicolaus reissued a “buy” rating and set a $31.00 price target (up from $28.00) on shares of Conn’s in a research report on Tuesday, September 3rd. ValuEngine raised Conn’s from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Zacks Investment Research raised Conn’s from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Conn’s has a consensus rating of “Buy” and an average price target of $33.50.
Conn's, Inc operates as a specialty retailer of durable consumer goods and related services in the United States. It operates through two segments, Retail and Credit. The company's stores offer furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; and home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges.
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