Sotheby’s (BID) Sets New 12-Month High at $41.14
Sotheby’s (NYSE:BID) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.14 and last traded at $40.85, with a volume of 607,817 shares changing hands. The stock had previously closed at $39.89.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Sotheby’s from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. TheStreet upgraded shares of Sotheby’s from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Sotheby’s currently has an average rating of “Hold” and an average target price of $35.20.
The stock has a market capitalization of $2.22 billion and a P/E ratio of 77.74. The company has a 50-day moving average of $31.48 and a 200-day moving average of $27.97.
Sotheby’s (NYSE:BID) last released its quarterly earnings data on Monday, August 8th. The company reported $1.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.46. The company earned $298.67 million during the quarter, compared to analysts’ expectations of $291.22 million. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.04 EPS. On average, equities research analysts anticipate that Sotheby’s will post $2.24 EPS for the current fiscal year.
In related news, Director Dennis M. Weibling acquired 4,000 shares of the stock in a transaction on Thursday, May 19th. The shares were acquired at an average price of $27.89 per share, for a total transaction of $111,560.00. Following the transaction, the director now owns 79,000 shares in the company, valued at approximately $2,203,310. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Olivier Reza acquired 10,000 shares of the stock in a transaction on Wednesday, June 1st. The stock was bought at an average price of $30.00 per share, for a total transaction of $300,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $300,000. The disclosure for this purchase can be found here.
A hedge fund recently bought a new stake in Sotheby’s stock. Trexquant Investment LP bought a new position in shares of Sotheby’s (NYSE:BID) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 55,209 shares of the company’s stock, valued at approximately $1,422,000. Trexquant Investment LP owned 0.08% of Sotheby’s at the end of the most recent quarter.
Sotheby’s is a global art business company. The Company operates in two segments: Agency and Finance. The Agency segment earns commissions by matching buyers and sellers of authenticated fine art, decorative art, jewelry, wine and collectibles (collectively, art or works of art or artwork or property) through the auction or private sale process.
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