Luzich Partners LLC Boosts Stake in Conn’s, Inc. (CONN)
Luzich Partners LLC lifted its holdings in shares of Conn’s, Inc. (NASDAQ:CONN) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 305,822 shares of the specialty retailer’s stock after buying an additional 11,210 shares during the period. Conn’s comprises 5.7% of Luzich Partners LLC’s holdings, making the stock its 10th largest position. Luzich Partners LLC owned approximately 0.99% of Conn’s worth $5,841,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. State Street Corp boosted its stake in shares of Conn’s by 45.9% during the 2nd quarter. State Street Corp now owns 566,793 shares of the specialty retailer’s stock worth $10,828,000 after buying an additional 178,277 shares during the last quarter. PDT Partners LLC boosted its stake in shares of Conn’s by 12.9% during the 2nd quarter. PDT Partners LLC now owns 92,200 shares of the specialty retailer’s stock worth $1,761,000 after buying an additional 10,500 shares during the last quarter. Voya Investment Management LLC acquired a new position in shares of Conn’s during the 2nd quarter worth about $215,000. EAM Investors LLC acquired a new position in shares of Conn’s during the 2nd quarter worth about $4,168,000. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Conn’s by 60.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 162,463 shares of the specialty retailer’s stock worth $3,103,000 after buying an additional 61,265 shares during the last quarter. Institutional investors own 70.97% of the company’s stock.
Conn’s, Inc. (CONN) traded down 0.54% on Friday, reaching $27.40. 89,194 shares of the company’s stock traded hands. The stock’s market cap is $855.04 million. Conn’s, Inc. has a 52-week low of $7.75 and a 52-week high of $28.61. The company’s 50 day moving average is $21.91 and its 200-day moving average is $18.11.
Conn’s (NASDAQ:CONN) last posted its earnings results on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.28. The business had revenue of $366.65 million for the quarter, compared to analyst estimates of $371.97 million. Conn’s had a negative net margin of 0.14% and a positive return on equity of 1.08%. Conn’s’s revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) EPS. Equities analysts expect that Conn’s, Inc. will post $0.74 EPS for the current year.
In other news, major shareholder W. R. Jr. Stephens bought 12,000 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were acquired at an average price of $18.85 per share, with a total value of $226,200.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.48% of the company’s stock.
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Several equities research analysts recently issued reports on the stock. UBS AG upgraded shares of Conn’s from a “market perform” rating to an “outperform” rating in a research note on Friday, September 29th. Oppenheimer Holdings, Inc. upgraded shares of Conn’s from a “market perform” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, September 29th. TheStreet upgraded shares of Conn’s from a “d+” rating to a “c” rating in a research note on Thursday, September 7th. Zacks Investment Research upgraded shares of Conn’s from a “hold” rating to a “strong-buy” rating and set a $27.00 target price for the company in a research note on Wednesday, September 13th. Finally, BidaskClub upgraded shares of Conn’s from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $28.60.
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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