Conn’s, Inc. (CONN) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC raised its stake in shares of Conn’s, Inc. (NASDAQ:CONN) by 2.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 191,076 shares of the specialty retailer’s stock after buying an additional 4,672 shares during the period. Geode Capital Management LLC owned approximately 0.62% of Conn’s worth $1,671,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in CONN. Bank of Montreal Can acquired a new position in Conn’s during the first quarter valued at approximately $875,000. Stephens Inc. AR boosted its position in Conn’s by 85.5% in the first quarter. Stephens Inc. AR now owns 376,350 shares of the specialty retailer’s stock valued at $3,293,000 after buying an additional 173,416 shares during the period. Hodges Capital Management Inc. boosted its position in Conn’s by 66.7% in the first quarter. Hodges Capital Management Inc. now owns 50,000 shares of the specialty retailer’s stock valued at $437,000 after buying an additional 20,000 shares during the period. Parametric Portfolio Associates LLC boosted its position in Conn’s by 9.2% in the first quarter. Parametric Portfolio Associates LLC now owns 101,198 shares of the specialty retailer’s stock valued at $885,000 after buying an additional 8,529 shares during the period. Finally, California Public Employees Retirement System boosted its position in Conn’s by 27.9% in the first quarter. California Public Employees Retirement System now owns 188,300 shares of the specialty retailer’s stock valued at $1,648,000 after buying an additional 41,100 shares during the period. Institutional investors own 71.41% of the company’s stock.
Shares of Conn’s, Inc. (NASDAQ CONN) traded up 3.524% during trading on Thursday, reaching $17.625. The company had a trading volume of 264,521 shares. The stock has a 50 day moving average price of $20.58 and a 200 day moving average price of $15.43. Conn’s, Inc. has a 12 month low of $6.55 and a 12 month high of $23.75. The firm’s market capitalization is $546.60 million.
Conn’s (NASDAQ:CONN) last posted its quarterly earnings data on Tuesday, June 6th. The specialty retailer reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.17. Conn’s had a negative return on equity of 0.72% and a negative net margin of 1.18%. The firm had revenue of $355.80 million for the quarter, compared to analyst estimates of $357.53 million. During the same quarter last year, the company earned ($0.31) EPS. The company’s revenue was down 8.6% on a year-over-year basis. On average, equities research analysts forecast that Conn’s, Inc. will post $0.49 EPS for the current year.
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Several equities analysts have recently commented on CONN shares. Zacks Investment Research cut Conn’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 3rd. ValuEngine upgraded Conn’s from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded Conn’s from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Stifel Nicolaus restated a “buy” rating and set a $20.00 price objective (up from $19.00) on shares of Conn’s in a research note on Wednesday, June 7th. Finally, Stephens restated an “overweight” rating and set a $28.00 price objective (up from $25.00) on shares of Conn’s in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $22.50.
In related news, major shareholder W. R. Jr. Stephens acquired 12,000 shares of the stock in a transaction on Friday, July 14th. The shares were purchased at an average price of $18.85 per share, for a total transaction of $226,200.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James H. Haworth sold 7,392 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $19.34, for a total value of $142,961.28. Following the transaction, the director now owns 4,425 shares in the company, valued at approximately $85,579.50. The disclosure for this sale can be found here. 3.48% of the stock is owned by company insiders.
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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