Hodges Capital Management Inc. Has $844,000 Stake in Conn’s, Inc. (CONN)
Hodges Capital Management Inc. reduced its stake in Conn’s, Inc. (NASDAQ:CONN) by 33.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,000 shares of the specialty retailer’s stock after selling 15,000 shares during the quarter. Hodges Capital Management Inc. owned about 0.10% of Conn’s worth $844,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp boosted its position in shares of Conn’s by 45.9% in the 2nd quarter. State Street Corp now owns 566,793 shares of the specialty retailer’s stock worth $10,828,000 after purchasing an additional 178,277 shares in the last quarter. Royce & Associates LP lifted its position in Conn’s by 3.4% in the 2nd quarter. Royce & Associates LP now owns 429,411 shares of the specialty retailer’s stock valued at $8,202,000 after acquiring an additional 14,075 shares in the last quarter. Luzich Partners LLC lifted its position in Conn’s by 3.8% in the 2nd quarter. Luzich Partners LLC now owns 305,822 shares of the specialty retailer’s stock valued at $5,841,000 after acquiring an additional 11,210 shares in the last quarter. Northpointe Capital LLC bought a new position in Conn’s in the 2nd quarter valued at approximately $5,052,000. Finally, Acadian Asset Management LLC bought a new position in Conn’s in the 2nd quarter valued at approximately $4,766,000. 70.87% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Harriet C. Stephens purchased 23,000 shares of the stock in a transaction dated 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 acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Harriet C. Stephens purchased 42,000 shares of the stock in a transaction dated Friday, October 13th. The shares were purchased at an average cost of $25.40 per share, for a total transaction of $1,066,800.00. The disclosure for this purchase can be found here. 3.48% of the stock is owned by corporate insiders.
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Several equities analysts recently issued reports on CONN shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 price objective (up from $20.00) on shares of Conn’s in a research report on Friday, September 8th. Zacks Investment Research cut Conn’s from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. KeyCorp reaffirmed an “overweight” rating and issued a $42.00 price objective (up from $24.00) on shares of Conn’s in a research report on Wednesday, October 18th. BidaskClub cut Conn’s from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Finally, UBS AG raised Conn’s from a “market perform” rating to an “outperform” rating in a research report on Friday, September 29th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $33.33.
Conn’s, Inc. (NASDAQ:CONN) opened at $29.85 on Thursday. The firm has a market capitalization of $934.65, a price-to-earnings ratio of 166.39, a PEG ratio of 2.17 and a beta of 1.87. The company has a debt-to-equity ratio of 2.02, a quick ratio of 4.70 and a current ratio of 5.80. Conn’s, Inc. has a twelve month low of $7.75 and a twelve month high of $32.90.
Conn’s (NASDAQ:CONN) last released its quarterly earnings results on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.28. The firm had revenue of $366.65 million for the quarter, compared to analysts’ expectations of $371.97 million. Conn’s had a positive return on equity of 1.08% and a negative net margin of 0.14%. The company’s revenue was down 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) EPS. sell-side analysts predict that Conn’s, Inc. will post 0.6 earnings per share for the current fiscal year.
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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