11,254 Shares in Conn’s, Inc. (CONN) Acquired by Voya Investment Management LLC
Voya Investment Management LLC bought a new position in shares of Conn’s, Inc. (NASDAQ:CONN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,254 shares of the specialty retailer’s stock, valued at approximately $215,000.
A number of other hedge funds also recently made changes to their positions in the business. EAM Investors LLC purchased a new position in Conn’s during the second quarter worth about $4,168,000. Parametric Portfolio Associates LLC boosted its stake in shares of Conn’s by 60.5% in the second quarter. Parametric Portfolio Associates LLC now owns 162,463 shares of the specialty retailer’s stock valued at $3,103,000 after purchasing an additional 61,265 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Conn’s in the second quarter valued at approximately $258,000. Nationwide Fund Advisors boosted its stake in shares of Conn’s by 78.5% in the second quarter. Nationwide Fund Advisors now owns 20,402 shares of the specialty retailer’s stock valued at $390,000 after purchasing an additional 8,974 shares during the period. Finally, Ameriprise Financial Inc. purchased a new position in shares of Conn’s in the second quarter valued at approximately $1,692,000. 71.61% of the stock is owned by institutional investors.
In other news, major shareholder Harriet C. Stephens purchased 42,000 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The stock was bought at an average price of $25.40 per share, for a total transaction of $1,066,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Harriet C. Stephens purchased 23,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was purchased at an average price of $25.50 per share, with a total value of $586,500.00. The disclosure for this purchase can be found here. 3.48% of the stock is owned by insiders.
CONN has been the subject of several recent research reports. Oppenheimer Holdings, Inc. raised shares of Conn’s from a “market perform” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, September 29th. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 price objective (up previously from $20.00) on shares of Conn’s in a research note on Friday, September 8th. BidaskClub lowered shares of Conn’s from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $33.00 price objective on shares of Conn’s in a research note on Thursday, October 19th. Finally, TheStreet raised shares of Conn’s from a “d+” rating to a “c” rating in a research note on Thursday, September 7th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $33.33.
Conn’s, Inc. (NASDAQ CONN) opened at $31.00 on Monday. Conn’s, Inc. has a 12 month low of $7.75 and a 12 month high of $32.90. The company has a quick ratio of 4.70, a current ratio of 5.80 and a debt-to-equity ratio of 2.02. The stock has a market cap of $967.41, a P/E ratio of 172.22, a P/E/G ratio of 2.25 and a beta of 1.87.
Conn’s (NASDAQ:CONN) last issued its quarterly earnings results on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.28. Conn’s had a negative net margin of 0.14% and a positive return on equity of 1.08%. The company had revenue of $366.65 million during the quarter, compared to the consensus estimate of $371.97 million. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. equities research analysts forecast that Conn’s, Inc. will post 0.6 EPS for the current fiscal year.
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Conn’s Company Profile
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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