Conn’s Target of Unusually Large Options Trading (CONN)
Conn’s, Inc. (NASDAQ:CONN) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 3,036 put options on the stock. This is an increase of approximately Infinity compared to the typical daily volume of 0 put options.
Shares of Conn’s (NASDAQ:CONN) opened at $30.55 on Monday. Conn’s has a fifty-two week low of $7.75 and a fifty-two week high of $32.90. The company has a current ratio of 5.80, a quick ratio of 4.70 and a debt-to-equity ratio of 2.02. The company has a market cap of $953.37, a PE ratio of 169.72, a price-to-earnings-growth ratio of 2.91 and a beta of 1.87.
Conn’s (NASDAQ:CONN) last issued its quarterly earnings data on Thursday, September 7th. The specialty retailer reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.28. Conn’s had a negative net margin of 0.14% and a positive return on equity of 1.08%. The firm had revenue of $366.65 million for the quarter, compared to analyst estimates of $371.97 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. The company’s revenue was down 7.9% on a year-over-year basis. equities analysts forecast that Conn’s will post 0.57 earnings per share for the current year.
Several research firms have recently weighed in on CONN. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Conn’s in a report on Tuesday, October 24th. BidaskClub lowered shares of Conn’s from a “buy” rating to a “hold” rating in a report on Friday, August 18th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $33.00 target price on shares of Conn’s in a report on Thursday, October 19th. UBS AG raised shares of Conn’s from a “market perform” rating to an “outperform” rating in a report on Friday, September 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 target price (up previously from $20.00) on shares of Conn’s in a report on Friday, September 8th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $33.33.
In other Conn’s news, major shareholder Harriet C. Stephens purchased 42,000 shares of the stock in a transaction on Friday, October 13th. The shares were purchased at an average price of $25.40 per share, with a total value of $1,066,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Harriet C. Stephens purchased 23,000 shares of the stock in a transaction on Monday, October 16th. The stock was acquired at an average cost of $25.50 per share, for a total transaction of $586,500.00. The disclosure for this purchase can be found here. Insiders own 3.48% of the company’s stock.
Large investors have recently modified their holdings of the business. Parametric Portfolio Associates LLC lifted its position in Conn’s by 9.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 101,198 shares of the specialty retailer’s stock valued at $885,000 after purchasing an additional 8,529 shares during the period. American International Group Inc. lifted its position in Conn’s by 7.1% during the 1st quarter. American International Group Inc. now owns 12,501 shares of the specialty retailer’s stock valued at $109,000 after purchasing an additional 830 shares during the period. California Public Employees Retirement System lifted its position in Conn’s by 27.9% during the 1st quarter. California Public Employees Retirement System now owns 188,300 shares of the specialty retailer’s stock valued at $1,648,000 after purchasing an additional 41,100 shares during the period. Geode Capital Management LLC lifted its position in Conn’s by 2.5% during the 1st quarter. Geode Capital Management LLC now owns 191,076 shares of the specialty retailer’s stock valued at $1,671,000 after purchasing an additional 4,672 shares during the period. Finally, UBS Group AG lifted its position in Conn’s by 1.8% during the 1st quarter. UBS Group AG now owns 82,122 shares of the specialty retailer’s stock valued at $719,000 after purchasing an additional 1,431 shares during the period. 70.88% of the stock is currently owned by hedge funds and other institutional investors.
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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