Insider Buying: Conn’s, Inc. (CONN) Major Shareholder Buys $226,200.00 in Stock
Conn’s, Inc. (NASDAQ:CONN) major shareholder W. R. Jr. Stephens bought 12,000 shares of the firm’s stock in a transaction on Friday, July 14th. The stock was purchased at an average cost of $18.85 per share, for a total transaction of $226,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Conn’s, Inc. (CONN) opened at 22.05 on Friday. The firm’s market capitalization is $683.84 million. The stock has a 50 day moving average of $18.71 and a 200-day moving average of $13.74. Conn’s, Inc. has a 1-year low of $6.54 and a 1-year high of $22.85.
Conn’s (NASDAQ:CONN) last posted its quarterly earnings data on Tuesday, June 6th. The specialty retailer reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.17. The company had revenue of $355.80 million for the quarter, compared to analysts’ expectations of $357.53 million. Conn’s had a negative net margin of 1.18% and a negative return on equity of 0.72%. Conn’s’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.31) earnings per share. On average, equities analysts expect that Conn’s, Inc. will post $0.49 earnings per share for the current year.
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Several equities analysts have commented on CONN shares. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 target price (up from $19.00) on shares of Conn’s in a report on Wednesday, June 7th. Zacks Investment Research raised shares of Conn’s from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Conn’s in a report on Tuesday, June 20th. ValuEngine raised shares of Conn’s from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Stephens reissued an “overweight” rating and issued a $28.00 target price (up from $25.00) on shares of Conn’s in a report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $22.50.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royce & Associates LP boosted its position in Conn’s by 108.3% in the first quarter. Royce & Associates LP now owns 415,336 shares of the specialty retailer’s stock valued at $3,634,000 after buying an additional 215,900 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Conn’s by 77.5% in the first quarter. Point72 Asset Management L.P. now owns 400,000 shares of the specialty retailer’s stock valued at $3,500,000 after buying an additional 174,600 shares in the last quarter. Stephens Inc. AR raised its stake in shares of Conn’s by 85.5% in the first quarter. Stephens Inc. AR now owns 376,350 shares of the specialty retailer’s stock valued at $3,293,000 after buying an additional 173,416 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Conn’s during the fourth quarter valued at about $1,279,000. Finally, Bank of Montreal Can purchased a new stake in shares of Conn’s during the first quarter valued at about $875,000. Institutional investors own 61.32% of the company’s stock.
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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