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.
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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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