Conn’s Inc (NASDAQ:CONN) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 5,949,300 shares, an increase of 9.3% from the July 31st total of 5,441,500 shares. Based on an average daily volume of 452,300 shares, the days-to-cover ratio is presently 13.2 days. Currently, 30.8% of the company’s shares are sold short.

A number of research firms have recently weighed in on CONN. Stifel Nicolaus reiterated a “buy” rating and set a $31.00 price target (up from $28.00) on shares of Conn’s in a report on Tuesday, September 3rd. ValuEngine upgraded Conn’s from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. BidaskClub raised Conn’s from a “buy” rating to a “strong-buy” rating in a research note on Thursday. KeyCorp set a $41.00 target price on Conn’s and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Zacks Investment Research raised Conn’s from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $33.50.

CONN traded down $0.29 during mid-day trading on Friday, hitting $26.42. 493,562 shares of the stock were exchanged, compared to its average volume of 879,690. The firm’s fifty day moving average is $20.78 and its two-hundred day moving average is $21.48. Conn’s has a 1-year low of $15.40 and a 1-year high of $37.70. The company has a current ratio of 5.01, a quick ratio of 3.97 and a debt-to-equity ratio of 2.01. The company has a market cap of $772.01 million, a PE ratio of 10.53, a PEG ratio of 0.43 and a beta of 2.19.

Conn’s (NASDAQ:CONN) last posted 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 return on equity of 14.27% and a net margin of 5.35%. The firm had revenue of $401.10 million for the quarter, compared to analyst estimates of $398.10 million. During the same quarter in the prior year, the company earned $0.57 EPS. Conn’s’s revenue was up 4.3% on a year-over-year basis. As a group, research analysts anticipate that Conn’s will post 2.73 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hodges Capital Management Inc. lifted its stake in Conn’s by 24.6% during the 2nd quarter. Hodges Capital Management Inc. now owns 485,300 shares of the specialty retailer’s stock worth $8,648,000 after acquiring an additional 95,665 shares in the last quarter. Magnetar Financial LLC acquired a new position in Conn’s during the 2nd quarter worth about $628,000. Morgan Stanley lifted its stake in Conn’s by 21.6% during the 2nd quarter. Morgan Stanley now owns 1,048,751 shares of the specialty retailer’s stock worth $18,688,000 after acquiring an additional 186,498 shares in the last quarter. Invesco Ltd. lifted its stake in Conn’s by 41.4% during the 2nd quarter. Invesco Ltd. now owns 218,668 shares of the specialty retailer’s stock worth $3,897,000 after acquiring an additional 64,036 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Conn’s by 9.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,094,359 shares of the specialty retailer’s stock worth $37,321,000 after acquiring an additional 183,478 shares in the last quarter. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

About Conn’s

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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