Teachers Advisors LLC Buys 2,629 Shares of Sotheby’s (BID)
Teachers Advisors LLC increased its stake in shares of Sotheby’s (NYSE:BID) by 3.1% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 86,273 shares of the specialty retailer’s stock after buying an additional 2,629 shares during the period. Teachers Advisors LLC’s holdings in Sotheby’s were worth $3,924,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Alliancebernstein L.P. boosted its stake in shares of Sotheby’s by 19.2% in the first quarter. Alliancebernstein L.P. now owns 3,306,408 shares of the specialty retailer’s stock valued at $150,375,000 after buying an additional 532,977 shares during the last quarter. Cortina Asset Management LLC bought a new stake in shares of Sotheby’s during the first quarter valued at $14,096,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Sotheby’s by 30.8% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 850,000 shares of the specialty retailer’s stock valued at $38,658,000 after buying an additional 200,000 shares during the last quarter. RWC Asset Management LLP boosted its stake in shares of Sotheby’s by 61.6% in the first quarter. RWC Asset Management LLP now owns 484,706 shares of the specialty retailer’s stock valued at $22,044,000 after buying an additional 184,760 shares during the last quarter. Finally, Columbus Circle Investors bought a new stake in shares of Sotheby’s during the first quarter valued at $6,138,000. 91.90% of the stock is owned by institutional investors.
Shares of Sotheby’s (NYSE:BID) opened at 49.87 on Wednesday. The company’s 50 day moving average price is $54.64 and its 200 day moving average price is $48.26. Sotheby’s has a 12 month low of $33.85 and a 12 month high of $57.95. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 31.29 and a beta of 1.81.
Sotheby’s (NYSE:BID) last announced its quarterly earnings results on Thursday, August 3rd. The specialty retailer reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by $0.08. Sotheby’s had a net margin of 8.49% and a return on equity of 18.72%. The business had revenue of $314.90 million for the quarter, compared to analysts’ expectations of $313.90 million. During the same quarter in the prior year, the firm earned $1.51 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts expect that Sotheby’s will post $1.95 EPS for the current fiscal year.
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Several equities research analysts have recently weighed in on BID shares. TheStreet cut Sotheby’s from a “b-” rating to a “c” rating in a research note on Wednesday, May 10th. Zacks Investment Research cut Sotheby’s from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. Sidoti reissued a “buy” rating and issued a $62.00 price target (up previously from $59.00) on shares of Sotheby’s in a research note on Friday, July 21st. Finally, BidaskClub cut Sotheby’s from a “hold” rating to a “sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $60.33.
Sotheby’s is a global art business company. The Company is engaged in offering its clients opportunities to connect with and transact in a range of objects. The Company offers a range of art-related services, including the brokerage of private art sales, private jewelry sales through Sotheby’s Diamonds, private selling exhibitions at its galleries, art-related financing, and art advisory services, as well as retail wine locations in New York and Hong Kong.
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