Insider Selling: Conn’s Inc (CONN) VP Sells 2,500 Shares of Stock

Conn’s Inc (NASDAQ:CONN) VP Todd Renaud sold 2,500 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $25.01, for a total transaction of $62,525.00. Following the completion of the transaction, the vice president now directly owns 38,538 shares of the company’s stock, valued at $963,835.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

NASDAQ:CONN opened at $24.93 on Tuesday. Conn’s Inc has a 1-year low of $17.00 and a 1-year high of $42.65. The company has a debt-to-equity ratio of 1.45, a current ratio of 4.27 and a quick ratio of 3.34. The firm has a market capitalization of $786.16 million, a P/E ratio of 9.93, a PEG ratio of 0.39 and a beta of 2.20.

Conn’s (NASDAQ:CONN) last released its quarterly earnings data on Tuesday, March 26th. The specialty retailer reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.20. Conn’s had a net margin of 4.76% and a return on equity of 13.97%. The firm had revenue of $432.98 million during the quarter, compared to analysts’ expectations of $437.95 million. During the same period in the previous year, the business posted $0.56 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Conn’s Inc will post 2.81 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in CONN. Whittier Trust Co. bought a new position in Conn’s during the fourth quarter worth $93,000. Point72 Hong Kong Ltd boosted its position in Conn’s by 213.5% during the third quarter. Point72 Hong Kong Ltd now owns 3,483 shares of the specialty retailer’s stock worth $123,000 after purchasing an additional 2,372 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in Conn’s by 339.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,959 shares of the specialty retailer’s stock worth $131,000 after purchasing an additional 5,376 shares during the period. State of Alaska Department of Revenue bought a new position in Conn’s during the first quarter worth $188,000. Finally, Louisiana State Employees Retirement System bought a new position in Conn’s during the first quarter worth $208,000. 70.42% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on CONN shares. Stifel Nicolaus decreased their target price on shares of Conn’s from $40.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, January 22nd. BidaskClub raised shares of Conn’s from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 31st. Zacks Investment Research cut shares of Conn’s from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. Finally, ValuEngine raised shares of Conn’s from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $37.50.

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About Conn’s

Conn's, Inc operates as a specialty retailer of durable consumer goods and related services in the United States. The company operates through two segments, Retail and Credit. Its stores provide furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges; consumer electronics comprising televisions, Blu-ray players, home theaters, and portable audio equipment; and home office products consisting of computers, printers, and accessories.

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