Sothebys (NYSE:BID) saw an uptick in trading volume on Wednesday . 2,167,057 shares were traded during trading, an increase of 499% from the previous session’s volume of 361,851 shares.The stock last traded at $48.43 and had previously closed at $47.70.

Several brokerages recently issued reports on BID. ValuEngine cut shares of Sothebys from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Sidoti cut shares of Sothebys from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 12th. Finally, Zacks Investment Research upgraded shares of Sothebys from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Friday, May 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $63.33.

The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 21.12 and a beta of 1.69. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.21 and a current ratio of 1.23.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. grew its holdings in Sothebys by 21.4% in the first quarter. Envestnet Asset Management Inc. now owns 5,194 shares of the specialty retailer’s stock worth $267,000 after purchasing an additional 914 shares during the period. UBS Group AG grew its holdings in Sothebys by 50.1% in the first quarter. UBS Group AG now owns 2,878 shares of the specialty retailer’s stock worth $147,000 after purchasing an additional 961 shares during the period. Smith Asset Management Group LP grew its holdings in Sothebys by 10.0% in the first quarter. Smith Asset Management Group LP now owns 11,001 shares of the specialty retailer’s stock worth $564,000 after purchasing an additional 998 shares during the period. Profund Advisors LLC grew its holdings in Sothebys by 17.3% in the first quarter. Profund Advisors LLC now owns 7,010 shares of the specialty retailer’s stock worth $360,000 after purchasing an additional 1,035 shares during the period. Finally, Capital Fund Management S.A. grew its holdings in Sothebys by 4.3% in the second quarter. Capital Fund Management S.A. now owns 46,478 shares of the specialty retailer’s stock worth $2,526,000 after purchasing an additional 1,937 shares during the period. Institutional investors and hedge funds own 87.88% of the company’s stock.

About Sothebys (NYSE:BID)

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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