Conn’s, Inc. (NASDAQ:CONN) shares saw unusually-strong trading volume on Wednesday . Approximately 573,396 shares were traded during trading, a decline of 7% from the previous session’s volume of 617,885 shares.The stock last traded at $32.18 and had previously closed at $31.30.
A number of analysts recently weighed in on the stock. Stifel Nicolaus restated a “buy” rating and set a $26.00 target price (up from $20.00) on shares of Conn’s in a research note on Friday, September 8th. BidaskClub lowered shares of Conn’s from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research upgraded shares of Conn’s from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Tuesday, July 11th. Oppenheimer Holdings, Inc. upgraded shares of Conn’s from a “market perform” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Friday, September 29th. Finally, SunTrust Banks, Inc. restated a “buy” rating and set a $33.00 target price on shares of Conn’s in a research note on Thursday, October 19th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $33.33.
The stock’s market cap is $989.23 million. The firm has a 50 day moving average price of $25.21 and a 200-day moving average price of $19.99.
Conn’s (NASDAQ:CONN) last released its quarterly earnings results on Thursday, September 7th. The specialty retailer reported $0.26 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.28. The firm had revenue of $366.65 million for the quarter, compared to analyst estimates of $371.97 million. Conn’s had a positive return on equity of 1.08% and a negative net margin of 0.14%. Conn’s’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) EPS. Equities research analysts predict that Conn’s, Inc. will post $0.73 EPS for the current fiscal year.
In related news, major shareholder Harriet C. Stephens purchased 23,000 shares of Conn’s stock in a transaction that occurred on Monday, October 16th. The shares were purchased at an average cost of $25.50 per share, with a total value of $586,500.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Harriet C. Stephens purchased 42,000 shares of Conn’s stock in a transaction that occurred on Friday, October 13th. The shares were bought at an average cost of $25.40 per share, for a total transaction of $1,066,800.00. The disclosure for this purchase can be found here. Insiders own 3.48% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CONN. American International Group Inc. raised its position in shares of Conn’s by 7.1% in the 1st quarter. American International Group Inc. now owns 12,501 shares of the specialty retailer’s stock valued at $109,000 after purchasing an additional 830 shares in the last quarter. ClariVest Asset Management LLC acquired a new position in shares of Conn’s in the 2nd quarter valued at approximately $114,000. Voya Investment Management LLC acquired a new position in shares of Conn’s in the 2nd quarter valued at approximately $215,000. GSA Capital Partners LLP acquired a new position in shares of Conn’s in the 2nd quarter valued at approximately $258,000. Finally, Wells Fargo & Company MN raised its position in shares of Conn’s by 2.5% in the 2nd quarter. Wells Fargo & Company MN now owns 16,192 shares of the specialty retailer’s stock valued at $310,000 after purchasing an additional 400 shares in the last quarter. 70.76% of the stock is currently owned by institutional investors.
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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