Conn’s (NASDAQ:CONN) Stock Price Down 5.3%

Conn’s Inc (NASDAQ:CONN)’s share price dropped 5.3% during mid-day trading on Wednesday . The stock traded as low as $19.29 and last traded at $19.48, approximately 509,200 shares changed hands during trading. A decline of 3% from the average daily volume of 525,583 shares. The stock had previously closed at $20.56.

CONN has been the topic of several analyst reports. Zacks Investment Research raised shares of Conn’s from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Thursday, October 31st. KeyCorp set a $41.00 price target on shares of Conn’s and gave the stock a “buy” rating in a research note on Wednesday, September 4th. BidaskClub cut shares of Conn’s from a “hold” rating to a “sell” rating in a research note on Saturday, November 16th. Stifel Nicolaus reaffirmed a “buy” rating and set a $31.00 price target (up from $28.00) on shares of Conn’s in a research note on Tuesday, September 3rd. Finally, ValuEngine cut shares of Conn’s from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $32.40.

The company’s 50-day moving average is $23.47 and its 200-day moving average is $21.41. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.01 and a quick ratio of 3.97. The firm has a market capitalization of $563.03 million, a price-to-earnings ratio of 7.76, a PEG ratio of 0.35 and a beta of 2.04.

Conn’s (NASDAQ:CONN) last released its earnings results on Tuesday, September 3rd. The specialty retailer reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.11. Conn’s had a net margin of 5.35% and a return on equity of 14.27%. The business had revenue of $401.10 million for the quarter, compared to analysts’ expectations of $398.10 million. During the same period last year, the company earned $0.57 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Sell-side analysts anticipate that Conn’s Inc will post 2.7 earnings per share for the current year.

In related news, VP Todd Renaud sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $24.67, for a total value of $74,010.00. Following the transaction, the vice president now owns 35,141 shares in the company, valued at $866,928.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Daly sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $27.00, for a total transaction of $234,900.00. Following the completion of the transaction, the insider now owns 47,482 shares in the company, valued at approximately $1,282,014. The disclosure for this sale can be found here. 3.68% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tyers Asset Management LLC raised its holdings in Conn’s by 229.5% in the second quarter. Tyers Asset Management LLC now owns 3,216 shares of the specialty retailer’s stock valued at $57,000 after buying an additional 2,240 shares during the period. Riverhead Capital Management LLC raised its holdings in Conn’s by 218.2% in the second quarter. Riverhead Capital Management LLC now owns 3,500 shares of the specialty retailer’s stock valued at $62,000 after buying an additional 2,400 shares during the period. Elkfork Partners LLC raised its holdings in Conn’s by 229.5% in the second quarter. Elkfork Partners LLC now owns 4,422 shares of the specialty retailer’s stock valued at $79,000 after buying an additional 3,080 shares during the period. Meadow Creek Investment Management LLC raised its holdings in Conn’s by 229.5% in the second quarter. Meadow Creek Investment Management LLC now owns 5,628 shares of the specialty retailer’s stock valued at $100,000 after buying an additional 3,920 shares during the period. Finally, Aperio Group LLC purchased a new position in Conn’s in the second quarter valued at approximately $115,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

About Conn’s (NASDAQ:CONN)

Conn's, Inc operates as a specialty retailer of durable consumer goods and related services in the United States. It operates through two segments, Retail and Credit. The company's stores offer furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; and home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges.

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