Algert Global LLC grew its stake in shares of Conn’s Inc (NASDAQ:CONN) by 118.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,668 shares of the specialty retailer’s stock after buying an additional 17,168 shares during the quarter. Algert Global LLC’s holdings in Conn’s were worth $724,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in CONN. Whittier Trust Co. bought a new position in shares of Conn’s during the fourth quarter valued at about $93,000. Investors Research Corp bought a new position in shares of Conn’s during the first quarter valued at about $106,000. Metropolitan Life Insurance Co. NY grew its stake in shares of 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 valued at $131,000 after buying an additional 5,376 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Conn’s during the first quarter valued at about $188,000. Finally, Louisiana State Employees Retirement System bought a new position in shares of Conn’s during the first quarter valued at about $208,000. 70.31% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ CONN opened at $25.45 on Tuesday. The company has a current ratio of 4.27, a quick ratio of 3.34 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $805.93 million, a P/E ratio of 10.14, a price-to-earnings-growth ratio of 0.40 and a beta of 2.22. Conn’s Inc has a 1 year low of $17.00 and a 1 year high of $42.65.
Conn’s (NASDAQ:CONN) last posted its earnings results on Tuesday, March 26th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.20. The company had revenue of $432.98 million for the quarter, compared to analysts’ expectations of $437.95 million. Conn’s had a return on equity of 13.97% and a net margin of 4.76%. Conn’s’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.56 earnings per share. As a group, analysts anticipate that Conn’s Inc will post 2.81 EPS for the current fiscal year.
A number of brokerages have recently issued reports on CONN. ValuEngine raised Conn’s from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. TheStreet raised Conn’s from a “c+” rating to a “b-” rating in a research note on Wednesday, April 17th. Zacks Investment Research raised Conn’s from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. BidaskClub raised Conn’s from a “sell” rating to a “hold” rating in a research note on Wednesday, February 27th. Finally, Stifel Nicolaus reduced their price objective on Conn’s from $40.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, January 22nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $37.50.
In related news, VP Todd Renaud sold 2,500 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $25.01, for a total value of $62,525.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.68% of the stock is owned by company insiders.
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Conn’s Company Profile
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.
Further Reading: Understanding Average Daily Trade Volume
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