Insider Buying: Sothebys (BID) Insider Buys 15,250 Shares of Stock

Sothebys (NYSE:BID) insider Jr. Thomas S. Smith bought 15,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The shares were purchased at an average cost of $40.96 per share, for a total transaction of $624,640.00. Following the purchase, the insider now owns 119,725 shares in the company, valued at approximately $4,903,936. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

BID opened at $39.99 on Friday. Sothebys has a 12-month low of $37.66 and a 12-month high of $60.16. The company has a current ratio of 1.24, a quick ratio of 1.17 and a debt-to-equity ratio of 1.89. The stock has a market cap of $1.96 billion, a P/E ratio of 17.85 and a beta of 1.70.

Sothebys (NYSE:BID) last posted its earnings results on Thursday, November 1st. The specialty retailer reported ($0.41) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.57) by $0.16. Sothebys had a return on equity of 21.41% and a net margin of 10.21%. The firm had revenue of $119.20 million for the quarter, compared to analyst estimates of $130.70 million. During the same quarter in the prior year, the company earned ($0.45) EPS. Sothebys’s revenue was down 33.8% on a year-over-year basis. Equities analysts forecast that Sothebys will post 2.28 earnings per share for the current year.

Several equities analysts recently issued reports on BID shares. ValuEngine raised Sothebys from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Sidoti raised Sothebys from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, November 27th. TheStreet lowered Sothebys from a “b” rating to a “c” rating in a research note on Monday, November 5th. Finally, Zacks Investment Research lowered Sothebys from a “buy” rating to a “hold” rating in a research note on Monday, October 29th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Sothebys currently has a consensus rating of “Buy” and an average target price of $60.00.

A number of institutional investors and hedge funds have recently bought and sold shares of BID. Matarin Capital Management LLC acquired a new position in Sothebys during the 3rd quarter worth about $14,282,000. Teachers Advisors LLC raised its position in Sothebys by 374.4% in the 3rd quarter. Teachers Advisors LLC now owns 338,006 shares of the specialty retailer’s stock valued at $16,627,000 after purchasing an additional 266,753 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in Sothebys by 13.1% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,470,168 shares of the specialty retailer’s stock valued at $72,318,000 after purchasing an additional 170,700 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its position in Sothebys by 11.3% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,613,631 shares of the specialty retailer’s stock valued at $79,375,000 after purchasing an additional 163,631 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in Sothebys by 12.5% in the 2nd quarter. OppenheimerFunds Inc. now owns 1,018,232 shares of the specialty retailer’s stock valued at $55,332,000 after purchasing an additional 113,376 shares in the last quarter.

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Sothebys Company Profile

Sotheby's operates as an auctioneer of authenticated fine art, decorative art, jewelry, wine, and collectibles in the United States, the United Kingdom, Hong Kong, China, Switzerland, France, and internationally. The company operates in two segments, Agency and Finance. The Agency segment accepts property on consignment; and matches sellers to buyers through the auction or private sale process.

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