Vulcan Value Partners LLC decreased its holdings in Sothebys (NYSE:BID) by 45.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 716,378 shares of the specialty retailer’s stock after selling 604,168 shares during the period. Vulcan Value Partners LLC owned approximately 1.39% of Sothebys worth $38,928,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. UBS Group AG raised its holdings in Sothebys by 50.1% in the 1st quarter. UBS Group AG now owns 2,878 shares of the specialty retailer’s stock valued at $147,000 after acquiring an additional 961 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Sothebys in the 2nd quarter valued at about $176,000. Point72 Asia Hong Kong Ltd acquired a new stake in Sothebys in the 1st quarter valued at about $246,000. Raymond James & Associates acquired a new stake in Sothebys in the 2nd quarter valued at about $268,000. Finally, North Star Investment Management Corp. acquired a new stake in Sothebys in the 2nd quarter valued at about $268,000. Institutional investors own 87.88% of the company’s stock.

Shares of Sothebys stock traded up $0.35 during mid-day trading on Friday, hitting $47.52. The stock had a trading volume of 653 shares, compared to its average volume of 298,706. Sothebys has a 12-month low of $42.78 and a 12-month high of $60.16. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.23 and a quick ratio of 1.21. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 21.00 and a beta of 1.68.

Sothebys (NYSE:BID) last posted its quarterly earnings results on Monday, August 6th. The specialty retailer reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.46). Sothebys had a net margin of 10.11% and a return on equity of 20.32%. The firm had revenue of $345.60 million during the quarter, compared to analysts’ expectations of $330.28 million. During the same period last year, the company earned $1.43 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. equities analysts expect that Sothebys will post 2.24 earnings per share for the current fiscal year.

BID has been the subject of several analyst reports. Zacks Investment Research cut shares of Sothebys from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. ValuEngine cut shares of Sothebys from a “buy” rating to a “hold” rating in a research note on Friday, June 1st. Finally, Sidoti cut shares of Sothebys from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Sothebys has a consensus rating of “Buy” and an average target price of $63.33.

Sothebys Profile

Sotheby's operates as an auctioneer of authenticated fine art, decorative art, jewelry, wine, and collectibles in the United States, the United Kingdom, Hong Kong, China, Switzerland, France, and internationally. The company operates in two segments, Agency and Finance. The Agency segment accepts property on consignment; and matches sellers to buyers through the auction or private sale process.

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Institutional Ownership by Quarter for Sothebys (NYSE:BID)

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