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.

WARNING: “Hodges Capital Management Inc. Has $844,000 Stake in Conn’s, Inc. (CONN)” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this story can be accessed at https://www.thecerbatgem.com/2017/11/09/hodges-capital-management-inc-has-844000-stake-in-conns-inc-conn.html.

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.

About Conn’s

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.

Institutional Ownership by Quarter for Conn`s (NASDAQ:CONN)

Receive News & Stock Ratings for Conn's Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conn's Inc. and related stocks with our FREE daily email newsletter.