Insider Buying: Conn’s, Inc. (CONN) Major Shareholder Purchases 42,000 Shares of Stock
Conn’s, Inc. (NASDAQ:CONN) major shareholder Harriet C. Stephens bought 42,000 shares of the stock in a transaction dated Friday, October 13th. The shares were acquired at an average cost of $25.40 per share, for a total transaction of $1,066,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Conn’s, Inc. (NASDAQ:CONN) traded up 1.17% on Monday, reaching $25.85. 372,206 shares of the company were exchanged. The stock’s market capitalization is $806.68 million. Conn’s, Inc. has a 12-month low of $7.75 and a 12-month high of $28.60. The firm has a 50 day moving average price of $23.32 and a 200-day moving average price of $19.02.
Conn’s (NASDAQ:CONN) last posted its earnings results on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $366.65 million for the quarter, compared to analysts’ expectations of $371.97 million. During the same period in the prior year, the company posted ($0.04) EPS. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. On average, analysts predict that Conn’s, Inc. will post $0.77 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of CONN. Northpointe Capital LLC purchased a new stake in Conn’s in the 2nd quarter worth approximately $5,052,000. Acadian Asset Management LLC purchased a new stake in Conn’s in the 2nd quarter worth approximately $4,766,000. EAM Investors LLC purchased a new stake in Conn’s in the 2nd quarter worth approximately $4,168,000. Royce & Associates LP lifted its stake in Conn’s by 108.3% in the 1st quarter. Royce & Associates LP now owns 415,336 shares of the specialty retailer’s stock worth $3,634,000 after purchasing an additional 215,900 shares in the last quarter. Finally, State Street Corp lifted its stake in Conn’s by 45.9% in the 2nd quarter. State Street Corp now owns 566,793 shares of the specialty retailer’s stock worth $10,828,000 after purchasing an additional 178,277 shares in the last quarter. Institutional investors and hedge funds own 70.97% of the company’s stock.
CONN has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 target price (up from $20.00) on shares of Conn’s in a report on Friday, September 8th. Zacks Investment Research raised shares of Conn’s from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Tuesday, July 11th. BidaskClub cut shares of Conn’s from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. UBS AG raised shares of Conn’s from a “market perform” rating to an “outperform” rating in a report on Friday, September 29th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $22.00 target price on shares of Conn’s in a report on Tuesday, September 5th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $29.40.
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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