Parametric Portfolio Associates LLC Has $3.10 Million Holdings in Conn’s, Inc. (CONN)

Parametric Portfolio Associates LLC raised its holdings in shares of Conn’s, Inc. (NASDAQ:CONN) by 60.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,463 shares of the specialty retailer’s stock after buying an additional 61,265 shares during the period. Parametric Portfolio Associates LLC owned about 0.52% of Conn’s worth $3,103,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CONN. Northpointe Capital LLC purchased a new stake in Conn’s during the second quarter valued at about $5,052,000. Acadian Asset Management LLC purchased a new stake in Conn’s during the second quarter valued at about $4,766,000. Point72 Asset Management L.P. boosted its position in Conn’s by 77.5% during the first quarter. Point72 Asset Management L.P. now owns 400,000 shares of the specialty retailer’s stock valued at $3,500,000 after buying an additional 174,600 shares during the period. Russell Investments Group Ltd. purchased a new stake in Conn’s during the second quarter valued at about $2,202,000. Finally, Ameriprise Financial Inc. purchased a new stake in Conn’s during the second quarter valued at about $1,692,000. Institutional investors and hedge funds own 70.88% of the company’s stock.

Several analysts have issued reports on CONN shares. Zacks Investment Research upgraded shares of Conn’s from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Tuesday, July 11th. BidaskClub lowered shares of Conn’s from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Stifel Nicolaus restated a “buy” rating and set a $26.00 price target (up from $20.00) on shares of Conn’s in a research report on Friday, September 8th. Oppenheimer Holdings, Inc. upgraded shares of Conn’s from a “market perform” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Friday, September 29th. Finally, SunTrust Banks, Inc. restated a “buy” rating and set a $33.00 price target on shares of Conn’s in a research report on Thursday, October 19th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $33.33.

In other news, major shareholder Harriet C. Stephens purchased 42,000 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The stock was purchased at an average cost of $25.40 per share, with a total value of $1,066,800.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Harriet C. Stephens purchased 23,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were purchased at an average cost of $25.50 per share, with a total value of $586,500.00. The disclosure for this purchase can be found here. 3.48% of the stock is currently owned by insiders.

Conn’s (NASDAQ:CONN) last released its quarterly earnings results on Thursday, September 7th. The specialty retailer reported $0.26 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $366.65 million during the quarter, compared to analysts’ expectations of $371.97 million. During the same period in the previous year, the company earned ($0.04) EPS. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year.

TRADEMARK VIOLATION WARNING: This news story was first posted by Community Financial News and is the property of of Community Financial News. If you are viewing this news story on another site, it was copied illegally and reposted in violation of international copyright & trademark law. The correct version of this news story can be read at https://www.com-unik.info/2017/11/03/parametric-portfolio-associates-llc-has-3-10-million-holdings-in-conns-inc-conn.html.

About Conn’s

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.

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

What are top analysts saying about Conn's Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Conn's Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit