Van Berkom & Associates Inc. boosted its position in Sothebys (NYSE:BID) by 3.0% during the third quarter, Holdings Channel reports. The institutional investor owned 1,415,052 shares of the specialty retailer’s stock after purchasing an additional 41,644 shares during the quarter. Sothebys comprises approximately 2.0% of Van Berkom & Associates Inc.’s portfolio, making the stock its 24th largest holding. Van Berkom & Associates Inc.’s holdings in Sothebys were worth $69,606,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Alliancebernstein L.P. raised its holdings in shares of Sothebys by 0.5% during the 3rd quarter. Alliancebernstein L.P. now owns 3,372,032 shares of the specialty retailer’s stock worth $165,870,000 after buying an additional 17,113 shares in the last quarter. Zeke Capital Advisors LLC acquired a new position in Sothebys in the 3rd quarter worth about $208,000. Commonwealth Bank of Australia acquired a new position in Sothebys in the 3rd quarter worth about $226,000. Paradice Investment Management LLC increased its holdings in Sothebys by 6.7% in the 3rd quarter. Paradice Investment Management LLC now owns 1,233,644 shares of the specialty retailer’s stock worth $60,683,000 after purchasing an additional 77,880 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Sothebys by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 35,479 shares of the specialty retailer’s stock worth $1,746,000 after purchasing an additional 2,034 shares in the last quarter.

BID has been the subject of a number of recent research reports. TheStreet cut Sothebys from a “b” rating to a “c” rating in a report on Monday, November 5th. Zacks Investment Research cut Sothebys from a “hold” rating to a “sell” rating in a report on Tuesday, August 21st. Finally, ValuEngine raised Sothebys from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $65.00.

BID traded down $0.67 on Monday, reaching $39.25. The stock had a trading volume of 42,235 shares, compared to its average volume of 574,598. Sothebys has a fifty-two week low of $38.40 and a fifty-two week high of $60.16. The company has a quick ratio of 1.17, a current ratio of 1.24 and a debt-to-equity ratio of 1.89. The stock has a market cap of $1.96 billion, a PE ratio of 17.44 and a beta of 1.70.

Sothebys (NYSE:BID) last issued its earnings results on Thursday, November 1st. The specialty retailer reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.16. Sothebys had a return on equity of 21.41% and a net margin of 10.21%. The business had revenue of $119.20 million during the quarter, compared to analysts’ expectations of $130.70 million. During the same quarter in the prior year, the firm earned ($0.45) EPS. The business’s revenue for the quarter was down 33.8% compared to the same quarter last year. On average, equities research analysts expect that Sothebys will post 2.28 EPS for the current year.

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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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