Sotheby’s (BID) Reaches New 1-Year High at $41.23
Sotheby’s (NYSE:BID) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $41.23 and last traded at $40.99, with a volume of 860,516 shares trading hands. The stock had previously closed at $40.53.
A number of research analysts recently commented on the company. TheStreet raised Sotheby’s from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Zacks Investment Research raised Sotheby’s from a “sell” rating to a “hold” rating in a report on Tuesday, April 26th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $35.20.
The firm has a 50 day moving average price of $33.22 and a 200 day moving average price of $28.58. The company has a market cap of $2.25 billion and a price-to-earnings ratio of 78.75.
Sotheby’s (NYSE:BID) last posted its earnings results on Monday, August 8th. The company reported $1.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.46. The company had revenue of $298.67 million for the quarter, compared to the consensus estimate of $291.22 million. During the same quarter last year, the business earned $1.04 earnings per share. Sotheby’s’s quarterly revenue was down 10.0% on a year-over-year basis. On average, equities analysts predict that Sotheby’s will post $2.24 earnings per share for the current fiscal year.
In other Sotheby’s news, Director Olivier Reza acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were acquired at an average cost of $30.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $300,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sole Domenico De acquired 6,620 shares of the company’s stock in a transaction dated Thursday, June 2nd. The stock was acquired at an average price of $30.29 per share, for a total transaction of $200,519.80. Following the completion of the purchase, the director now directly owns 33,105 shares of the company’s stock, valued at approximately $1,002,750.45. The disclosure for this purchase can be found here.
An institutional investor recently bought a new position in Sotheby’s stock. Trexquant Investment LP acquired a new position in Sotheby’s (NYSE:BID) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 55,209 shares of the company’s stock, valued at approximately $1,422,000. Trexquant Investment LP owned about 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.