Conn’s, Inc. (CONN) Stake Raised by American International Group Inc.
American International Group Inc. raised its position in Conn’s, Inc. (NASDAQ:CONN) by 7.1% during the first quarter, Holdings Channel reports. The fund owned 12,501 shares of the specialty retailer’s stock after buying an additional 830 shares during the period. American International Group Inc.’s holdings in Conn’s were worth $109,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC raised its position in Conn’s by 10.2% in the first quarter. SG Americas Securities LLC now owns 75,778 shares of the specialty retailer’s stock worth $663,000 after buying an additional 7,040 shares during the last quarter. Hodges Capital Management Inc. raised its position in shares of Conn’s by 66.7% in the first quarter. Hodges Capital Management Inc. now owns 50,000 shares of the specialty retailer’s stock valued at $437,000 after buying an additional 20,000 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Conn’s by 9.2% in the first quarter. Parametric Portfolio Associates LLC now owns 101,198 shares of the specialty retailer’s stock valued at $885,000 after buying an additional 8,529 shares in the last quarter. American Assets Investment Management LLC raised its position in shares of Conn’s by 33.3% in the first quarter. American Assets Investment Management LLC now owns 40,000 shares of the specialty retailer’s stock valued at $350,000 after buying an additional 10,000 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Conn’s during the first quarter valued at about $875,000. Institutional investors and hedge funds own 62.58% of the company’s stock.
Conn’s, Inc. (CONN) opened at 21.35 on Thursday. Conn’s, Inc. has a 52 week low of $6.55 and a 52 week high of $23.75. The company’s market capitalization is $662.13 million. The company’s 50-day moving average price is $20.11 and its 200 day moving average price is $14.69.
Conn’s (NASDAQ:CONN) last released its quarterly earnings results on Tuesday, June 6th. The specialty retailer reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.17. The firm 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%. The business’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.31) EPS. On average, analysts predict that Conn’s, Inc. will post $0.49 EPS for the current year.
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CONN has been the topic of several research reports. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Conn’s in a research note on Friday, April 21st. Zacks Investment Research lowered Conn’s from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine upgraded Conn’s from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. KeyCorp upgraded Conn’s from a “sector weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research note on Tuesday, April 25th. Finally, BidaskClub upgraded Conn’s from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $22.50.
In other Conn’s news, Director James H. Haworth sold 7,392 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $19.34, for a total value of $142,961.28. Following the transaction, the director now directly owns 4,425 shares of the company’s stock, valued at approximately $85,579.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder W. R. Jr. Stephens purchased 12,000 shares of the stock in a transaction on Friday, July 14th. The stock was bought at an average cost of $18.85 per share, for a total transaction of $226,200.00. The disclosure for this purchase can be found here. 3.48% of the stock is owned by corporate insiders.
Conn’s Company Profile
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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