Nationwide Fund Advisors Sells 12,538 Shares of Sothebys (BID)
Nationwide Fund Advisors decreased its stake in shares of Sothebys (NYSE:BID) by 10.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,124 shares of the specialty retailer’s stock after selling 12,538 shares during the period. Nationwide Fund Advisors owned 0.21% of Sothebys worth $5,032,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in BID. Discovery Capital Management LLC CT purchased a new stake in shares of Sothebys in the second quarter valued at $29,357,000. Vanguard Group Inc. grew its position in shares of Sothebys by 9.9% in the second quarter. Vanguard Group Inc. now owns 3,974,106 shares of the specialty retailer’s stock valued at $213,290,000 after purchasing an additional 356,603 shares during the period. Prudential Financial Inc. grew its position in shares of Sothebys by 802.2% in the second quarter. Prudential Financial Inc. now owns 373,218 shares of the specialty retailer’s stock valued at $20,031,000 after purchasing an additional 331,849 shares during the period. Teachers Advisors LLC grew its position in shares of Sothebys by 307.5% in the second quarter. Teachers Advisors LLC now owns 351,540 shares of the specialty retailer’s stock valued at $18,867,000 after purchasing an additional 265,267 shares during the period. Finally, Voya Investment Management LLC grew its position in shares of Sothebys by 34.8% in the second quarter. Voya Investment Management LLC now owns 649,776 shares of the specialty retailer’s stock valued at $34,874,000 after purchasing an additional 167,632 shares during the period. 92.02% of the stock is owned by institutional investors.
A number of equities research analysts have recently commented on BID shares. Zacks Investment Research raised Sothebys from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Consumer Edge raised Sothebys from a “neutral” rating to an “overweight” rating in a research report on Wednesday, October 4th. TheStreet downgraded Sothebys from a “b” rating to a “c+” rating in a research report on Monday, November 6th. Finally, Aegis initiated coverage on Sothebys in a report on Monday, October 30th. They issued a “buy” rating and a $60.00 target price on the stock. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. Sothebys currently has a consensus rating of “Hold” and an average target price of $60.25.
Sothebys (NYSE BID) opened at $50.37 on Friday. Sothebys has a fifty-two week low of $38.32 and a fifty-two week high of $57.95. The firm has a market capitalization of $2,686.58, a price-to-earnings ratio of 24.14 and a beta of 1.86. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.73 and a quick ratio of 1.62.
Sothebys (NYSE:BID) last issued its earnings results on Friday, November 3rd. The specialty retailer reported ($0.45) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.68) by $0.23. Sothebys had a return on equity of 22.48% and a net margin of 10.95%. The firm had revenue of $171.39 million for the quarter, compared to analysts’ expectations of $101.14 million. During the same quarter last year, the firm earned ($0.78) earnings per share. The firm’s revenue for the quarter was up 87.3% compared to the same quarter last year. equities analysts forecast that Sothebys will post 2.14 EPS for the current fiscal year.
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Sothebys Company Profile
Sotheby’s is a global art business company. The Company is engaged in offering its clients opportunities to connect with and transact in a range of objects. The Company offers a range of art-related services, including the brokerage of private art sales, private jewelry sales through Sotheby’s Diamonds, private selling exhibitions at its galleries, art-related financing, and art advisory services, as well as retail wine locations in New York and Hong Kong.
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