Conn’s Inc. (CONN) Trading 5.7% Higher
Conn’s Inc. (NASDAQ:CONN) traded up 5.7% during trading on Wednesday . The company traded as high as $7.06 and last traded at $7.04, with a volume of 395,655 shares trading hands. The stock had previously closed at $6.66.
Separately, Piper Jaffray Cos. cut Conn’s from an “overweight” rating to a “neutral” rating in a research report on Friday, June 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $34.00.
The stock has a 50 day moving average of $7.44 and a 200-day moving average of $12.00. The stock has a market cap of $215.81 million and a P/E ratio of 45.35.
Conn’s (NASDAQ:CONN) last announced its earnings results on Thursday, June 2nd. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by $0.37. During the same period last year, the firm earned $0.44 earnings per share. The firm had revenue of $319.04 million for the quarter, compared to analyst estimates of $393.16 million. The business’s revenue was up 6.6% on a year-over-year basis. On average, equities analysts anticipate that Conn’s Inc. will post ($0.14) earnings per share for the current year.
In other news, major shareholder A Stephens Grantors Tru Warren purchased 285,000 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The stock was purchased at an average cost of $7.10 per share, with a total value of $2,023,500.00. Following the completion of the acquisition, the insider now directly owns 385,350 shares of the company’s stock, valued at approximately $2,735,985. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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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