Conn’s Inc. (CONN) Trading 5.7% Higher
Shares of Conn’s Inc. (NASDAQ:CONN) traded up 5.7% during mid-day trading on Wednesday . The stock traded as high as $7.06 and last traded at $7.04, with a volume of 395,655 shares changing hands. The stock had previously closed at $6.66.
Several equities analysts have weighed in on CONN shares. Zacks Investment Research raised Conn’s from a “strong sell” rating to a “hold” rating in a report on Wednesday. Piper Jaffray Cos. cut Conn’s from an “overweight” rating to a “neutral” rating in a report on Friday, June 3rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $34.00.
The firm has a market capitalization of $216.73 million and a P/E ratio of 45.55. The company has a 50-day moving average price of $7.38 and a 200-day moving average price of $11.93.
Conn’s (NASDAQ:CONN) last announced its quarterly earnings results on Thursday, June 2nd. The company reported ($0.31) EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.37. The company had revenue of $319.04 million for the quarter, compared to analysts’ expectations of $393.16 million. During the same period last year, the firm posted $0.44 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. Equities analysts expect that Conn’s Inc. will post ($0.14) earnings per share for the current fiscal year.
In other news, major shareholder A Stephens Grantors Tru Warren acquired 285,000 shares of Conn’s stock in a transaction that occurred on Friday, July 15th. The shares were bought at an average cost of $7.10 per share, with a total value of $2,023,500.00. Following the transaction, the insider now directly owns 385,350 shares of the company’s stock, valued at approximately $2,735,985. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Luxor Capital Group, Lp sold 1,067,225 shares of the stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $8.86, for a total transaction of $9,455,613.50. The disclosure for this sale can be found here.
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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