Meeder Asset Management Inc. Increases Stake in Conn’s, Inc. (NASDAQ:CONN)

Meeder Asset Management Inc. raised its holdings in shares of Conn’s, Inc. (NASDAQ:CONN) by 399.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,318 shares of the specialty retailer’s stock after buying an additional 1,854 shares during the period. Meeder Asset Management Inc.’s holdings in Conn’s were worth $59,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. GSA Capital Partners LLP purchased a new position in Conn’s during the first quarter valued at $1,115,000. Guggenheim Capital LLC grew its stake in Conn’s by 153.1% during the first quarter. Guggenheim Capital LLC now owns 41,769 shares of the specialty retailer’s stock valued at $812,000 after acquiring an additional 25,263 shares in the last quarter. Royce & Associates LP purchased a new position in Conn’s during the first quarter valued at $1,934,000. Virtu Financial LLC purchased a new position in Conn’s during the first quarter valued at $203,000. Finally, Ameriprise Financial Inc. lifted its position in Conn’s by 2.1% during the first quarter. Ameriprise Financial Inc. now owns 88,161 shares of the specialty retailer’s stock valued at $1,715,000 after purchasing an additional 1,831 shares during the last quarter. 55.32% of the stock is owned by institutional investors and hedge funds.

Shares of Conn’s stock opened at $22.59 on Wednesday. The firm’s 50 day moving average price is $23.62 and its 200-day moving average price is $22.11. The company has a quick ratio of 2.33, a current ratio of 3.19 and a debt-to-equity ratio of 0.68. Conn’s, Inc. has a 52-week low of $9.06 and a 52-week high of $31.48. The company has a market cap of $666.02 million, a P/E ratio of 5.88, a PEG ratio of 0.27 and a beta of 2.58.

Conn’s (NASDAQ:CONN) last issued its quarterly earnings data on Tuesday, August 31st. The specialty retailer reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.51. Conn’s had a net margin of 7.75% and a return on equity of 20.22%. The firm had revenue of $418.40 million for the quarter, compared to the consensus estimate of $396.74 million. During the same quarter in the previous year, the firm earned $0.75 EPS. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, equities research analysts forecast that Conn’s, Inc. will post 3.77 EPS for the current fiscal year.

In other Conn’s news, Director Norman Miller sold 15,041 shares of Conn’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 transaction of $376,025.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder W. R. Jr. Stephens sold 12,272 shares of Conn’s stock in a transaction that occurred on Friday, June 25th. The shares were sold at an average price of $26.30, for a total transaction of $322,753.60. Following the sale, the insider now owns 31,497 shares of the company’s stock, valued at $828,371.10. The disclosure for this sale can be found here. Insiders sold a total of 104,537 shares of company stock valued at $2,677,709 over the last quarter. 4.65% of the stock is owned by company insiders.

Several equities analysts have commented on the stock. TheStreet upgraded shares of Conn’s from a “c-” rating to a “b-” rating in a research report on Thursday, June 3rd. Zacks Investment Research lowered shares of Conn’s from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 31st.

About Conn’s

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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Institutional Ownership by Quarter for Conn`s (NASDAQ:CONN)

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