Shares of Conn’s, Inc. (NASDAQ:CONN) hit a new 52-week high on Thursday . The stock traded as high as $22.90 and last traded at $22.78, with a volume of 338,318 shares traded. The stock had previously closed at $22.25.
CONN has been the subject of several recent analyst reports. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Conn’s in a research report on Friday, April 21st. KeyCorp upgraded Conn’s from a “sector weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a research report on Tuesday, April 25th. ValuEngine upgraded Conn’s from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Stifel Nicolaus restated a “buy” rating and set a $20.00 price objective (up from $19.00) on shares of Conn’s in a research report on Wednesday, June 7th. Finally, Zacks Investment Research upgraded Conn’s from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a research report on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Conn’s presently has a consensus rating of “Hold” and an average target price of $22.50.
The company’s 50-day moving average is $20.49 and its 200-day moving average is $15.01. The stock’s market capitalization is $625.69 million.
Conn’s (NASDAQ:CONN) last issued its quarterly earnings results on Tuesday, June 6th. The specialty retailer reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.17. Conn’s had a negative return on equity of 0.72% and a negative net margin of 1.18%. The firm had revenue of $355.80 million during the quarter, compared to analyst estimates of $357.53 million. During the same quarter in the previous year, the company posted ($0.31) earnings per share. The company’s revenue was down 8.6% compared to the same quarter last year. Analysts anticipate that Conn’s, Inc. will post $0.49 EPS for the current fiscal year.
In other news, Director James H. Haworth sold 7,392 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $19.34, for a total value of $142,961.28. Following the completion of the sale, the director now owns 4,425 shares of the company’s stock, valued at approximately $85,579.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Douglas H. Martin bought 10,000 shares of the stock in a transaction dated Wednesday, June 7th. The stock was bought at an average cost of $17.83 per share, with a total value of $178,300.00. The disclosure for this purchase can be found here. Insiders own 3.48% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its position in shares of Conn’s by 2.5% in the second quarter. Wells Fargo & Company MN now owns 16,192 shares of the specialty retailer’s stock worth $310,000 after buying an additional 400 shares in the last quarter. American International Group Inc. increased its position in shares of Conn’s by 7.1% in the first quarter. American International Group Inc. now owns 12,501 shares of the specialty retailer’s stock worth $109,000 after buying an additional 830 shares in the last quarter. UBS Group AG increased its position in shares of Conn’s by 1.8% in the first quarter. UBS Group AG now owns 82,122 shares of the specialty retailer’s stock worth $719,000 after buying an additional 1,431 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Conn’s by 2.5% in the first quarter. Geode Capital Management LLC now owns 191,076 shares of the specialty retailer’s stock worth $1,671,000 after buying an additional 4,672 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new position in shares of Conn’s during the second quarter worth about $114,000. 63.74% of the stock is owned by institutional investors.
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Conn’s Company Profile
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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