Rice Hall James & Associates LLC acquired a new position in Conn’s Inc (NASDAQ:CONN) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 72,672 shares of the specialty retailer’s stock, valued at approximately $1,295,000. Rice Hall James & Associates LLC owned approximately 0.23% of Conn’s as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Investors Research Corp purchased a new stake in shares of Conn’s in the 1st quarter worth about $106,000. Aperio Group LLC purchased a new position in Conn’s in the 2nd quarter valued at about $115,000. Metropolitan Life Insurance Co. NY lifted its holdings in Conn’s by 339.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,959 shares of the specialty retailer’s stock valued at $131,000 after purchasing an additional 5,376 shares in the last quarter. SG Americas Securities LLC purchased a new position in Conn’s in the 2nd quarter valued at about $168,000. Finally, Eidelman Virant Capital purchased a new position in Conn’s in the 2nd quarter valued at about $178,000. Institutional investors and hedge funds own 76.65% of the company’s stock.
CONN has been the topic of a number of recent research reports. BidaskClub upgraded shares of Conn’s from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. ValuEngine lowered shares of Conn’s from a “sell” rating to a “strong sell” rating in a report on Monday, June 3rd. Finally, Zacks Investment Research upgraded shares of Conn’s from a “sell” rating to a “hold” rating in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $36.00.
CONN traded up $1.12 on Friday, reaching $19.86. 6,814 shares of the company’s stock were exchanged, compared to its average volume of 390,151. The company’s 50 day moving average is $18.95 and its 200-day moving average is $21.44. The company has a market cap of $620.84 million, a price-to-earnings ratio of 7.75, a PEG ratio of 0.32 and a beta of 2.21. Conn’s Inc has a twelve month low of $15.40 and a twelve month high of $42.65. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.28 and a current ratio of 5.41.
Conn’s (NASDAQ:CONN) last released its quarterly earnings results on Friday, May 31st. The specialty retailer reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. The firm had revenue of $353.50 million during the quarter, compared to analysts’ expectations of $366.66 million. Conn’s had a return on equity of 14.38% and a net margin of 5.22%. Conn’s’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 EPS. Sell-side analysts forecast that Conn’s Inc will post 2.74 EPS for the current year.
In other Conn’s news, COO Lee A. Wright bought 5,882 shares of Conn’s stock in a transaction dated Tuesday, June 4th. The stock was bought at an average cost of $17.03 per share, for a total transaction of $100,170.46. Following the purchase, the chief operating officer now owns 203,189 shares in the company, valued at approximately $3,460,308.67. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William E. Saunders, Jr. bought 10,000 shares of Conn’s stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average price of $17.97 per share, with a total value of $179,700.00. Following the completion of the purchase, the director now owns 43,743 shares in the company, valued at approximately $786,061.71. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 27,647 shares of company stock valued at $480,228. 3.68% of the stock is owned by company insiders.
Conn’s Company Profile
Conn's, Inc operates as a specialty retailer of durable consumer goods and related services in the United States. It operates through two segments, Retail and Credit. The company's stores offer furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; and home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges.
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