Victory Capital Management Inc. trimmed its position in Sothebys (NYSE:BID) by 6.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 895,328 shares of the specialty retailer’s stock after selling 66,825 shares during the quarter. Victory Capital Management Inc. owned 1.73% of Sothebys worth $44,042,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. UBS Group AG raised its holdings in shares of Sothebys by 50.1% in the 1st 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. Radnor Capital Management LLC raised its holdings in shares of Sothebys by 18.4% in the 3rd quarter. Radnor Capital Management LLC now owns 8,880 shares of the specialty retailer’s stock worth $437,000 after purchasing an additional 1,380 shares during the period. Capital Fund Management S.A. raised its holdings in shares of Sothebys by 4.3% in the 2nd 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. Trexquant Investment LP raised its holdings in shares of Sothebys by 55.5% in the 2nd quarter. Trexquant Investment LP now owns 8,503 shares of the specialty retailer’s stock worth $462,000 after purchasing an additional 3,036 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Sothebys in the 2nd quarter worth about $176,000.
A number of equities analysts have recently commented on BID shares. TheStreet downgraded Sothebys from a “b” rating to a “c” rating in a report on Monday, November 5th. Zacks Investment Research downgraded Sothebys from a “hold” rating to a “sell” rating in a report on Tuesday, August 21st. Finally, ValuEngine upgraded Sothebys from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Sothebys currently has an average rating of “Hold” and an average target price of $65.00.
Shares of NYSE:BID opened at $40.96 on Friday. The stock has a market cap of $2.16 billion, a P/E ratio of 18.20 and a beta of 1.70. The company has a current ratio of 1.24, a quick ratio of 1.17 and a debt-to-equity ratio of 1.89. Sothebys has a one year low of $38.82 and a one year high of $60.16.
Sothebys (NYSE:BID) last announced its earnings results on Thursday, November 1st. The specialty retailer reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.16. The business had revenue of $119.20 million for the quarter, compared to the consensus estimate of $130.70 million. Sothebys had a return on equity of 21.41% and a net margin of 10.21%. The company’s revenue was down 33.8% on a year-over-year basis. During the same period last year, the business posted ($0.45) EPS. On average, equities analysts forecast that Sothebys will post 2.28 earnings per share for the current year.
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Sothebys Company 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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