Sotheby’s (BID) Reaches New 52-Week High at $41.23
Sotheby’s (NYSE:BID)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $41.23 and last traded at $40.99, with a volume of 860,516 shares changing hands. The stock had previously closed at $40.53.
A number of equities analysts have issued reports on the company. Zacks Investment Research raised Sotheby’s from a “hold” rating to a “strong-buy” rating and set a $46.00 price target for the company in a research note on Wednesday. TheStreet raised Sotheby’s from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Sotheby’s currently has an average rating of “Hold” and a consensus target price of $37.00.
The firm has a market capitalization of $2.21 billion and a price-to-earnings ratio of 77.22. The company has a 50 day moving average of $33.58 and a 200 day moving average of $28.66.
Sotheby’s (NYSE:BID) last posted its earnings results on Monday, August 8th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.46. The firm earned $298.67 million during the quarter, compared to the consensus estimate of $291.22 million. The business’s revenue was down 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 EPS. Equities analysts expect that Sotheby’s will post $2.24 EPS for the current year.
In other news, Director Olivier Reza bought 10,000 shares of the business’s stock in a transaction dated 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 completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $300,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sole Domenico De bought 6,620 shares of the business’s stock in a transaction dated Thursday, June 2nd. The stock was purchased at an average price of $30.29 per share, with a total value of $200,519.80. Following 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 bought a new position in shares of Sotheby’s (NYSE:BID) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 55,209 shares of the company’s stock, valued at approximately $1,422,000. Trexquant Investment LP owned approximately 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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