Conn’s (NASDAQ:CONN) Trading Down 4.4%

Conn’s, Inc. (NASDAQ:CONN) traded down 4.4% during mid-day trading on Tuesday . The stock traded as low as $23.38 and last traded at $23.42. 440 shares were traded during trading, a decline of 100% from the average session volume of 339,413 shares. The stock had previously closed at $24.51.

Separately, Zacks Investment Research upgraded shares of Conn’s from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Tuesday, October 12th.

The firm has a market capitalization of $692.56 million, a P/E ratio of 6.12, a price-to-earnings-growth ratio of 0.26 and a beta of 2.52. The stock’s 50-day simple moving average is $23.63 and its two-hundred day simple moving average is $23.96. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.19 and a quick ratio of 2.33.

Conn’s (NASDAQ:CONN) last posted its quarterly earnings results on Tuesday, August 31st. The specialty retailer reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.51. The business had revenue of $418.40 million during the quarter, compared to analyst estimates of $396.74 million. Conn’s had a net margin of 7.75% and a return on equity of 20.22%. The company’s revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. On average, analysts forecast that Conn’s, Inc. will post 4 earnings per share for the current fiscal year.

In other Conn’s news, Director Norman Miller sold 15,041 shares of the company’s stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $25.00, for a total value of $376,025.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.65% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Conn’s by 3.4% in the 3rd quarter. BlackRock Inc. now owns 3,276,956 shares of the specialty retailer’s stock valued at $74,812,000 after acquiring an additional 107,868 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Conn’s by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,139,352 shares of the specialty retailer’s stock valued at $48,844,000 after acquiring an additional 5,818 shares during the last quarter. Vanguard Group Inc. increased its holdings in Conn’s by 16.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,141,126 shares of the specialty retailer’s stock valued at $29,098,000 after acquiring an additional 158,533 shares during the last quarter. State Street Corp increased its holdings in Conn’s by 37.1% in the 2nd quarter. State Street Corp now owns 781,197 shares of the specialty retailer’s stock valued at $19,921,000 after acquiring an additional 211,236 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Conn’s by 36.2% in the 2nd quarter. Invesco Ltd. now owns 593,228 shares of the specialty retailer’s stock valued at $15,127,000 after acquiring an additional 157,632 shares during the last quarter. Institutional investors own 54.36% of the company’s stock.

About Conn’s (NASDAQ:CONN)

Conn’s, Inc is a holding company, which engages in the retail and provision of consumer goods and related services. The firm also offers proprietary credit solutions for its core credit-constrained consumers through retail stores and its website. It operates through the Retail and Credit segments. The Retail segment sells home appliances to the retail market; and owns and operates retail stores that offer furniture, home appliances, consumer electronics, and home office accessories.

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