Bank of New York Mellon Corp lowered its position in shares of Conn's Inc (NASDAQ:CONN) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,496 shares of the specialty retailer’s stock after selling 13,529 shares during the period. Bank of New York Mellon Corp owned approximately 0.50% of Conn's worth $4,376,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Voya Investment Management LLC bought a new stake in Conn's in the 2nd quarter worth approximately $215,000. Sei Investments Co. bought a new stake in Conn's in the 3rd quarter worth approximately $244,000. GSA Capital Partners LLP bought a new stake in Conn's in the 2nd quarter worth approximately $258,000. Wells Fargo & Company MN grew its position in Conn's by 2.5% in the 2nd quarter. Wells Fargo & Company MN now owns 16,192 shares of the specialty retailer’s stock worth $310,000 after purchasing an additional 400 shares during the period. Finally, Nationwide Fund Advisors grew its position in Conn's by 78.5% in the 2nd quarter. Nationwide Fund Advisors now owns 20,402 shares of the specialty retailer’s stock worth $390,000 after purchasing an additional 8,974 shares during the period. 71.49% of the stock is owned by institutional investors and hedge funds.
Conn's Inc (NASDAQ CONN) opened at $35.85 on Wednesday. The firm has a market cap of $1,120.00, a price-to-earnings ratio of 358.50, a PEG ratio of 1.75 and a beta of 1.86. Conn's Inc has a one year low of $7.75 and a one year high of $37.80. The company has a debt-to-equity ratio of 1.84, a quick ratio of 3.04 and a current ratio of 3.94.
In other Conn's news, major shareholder Harriet C. Stephens purchased 42,000 shares of the company’s stock in a transaction dated Friday, October 13th. The shares were acquired at an average price of $25.40 per share, for a total transaction of $1,066,800.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David Schofman bought 1,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were purchased at an average price of $32.20 per share, for a total transaction of $32,200.00. Following the purchase, the director now owns 20,384 shares in the company, valued at approximately $656,364.80. The disclosure for this purchase can be found here. Insiders have bought a total of 66,000 shares of company stock worth $1,685,500 in the last quarter. Corporate insiders own 3.48% of the company’s stock.
A number of equities research analysts have commented on CONN shares. Oppenheimer reaffirmed a “buy” rating on shares of Conn's in a research report on Tuesday, October 24th. SunTrust Banks reaffirmed a “buy” rating and issued a $33.00 target price on shares of Conn's in a research report on Thursday, October 19th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 target price (up previously from $20.00) on shares of Conn's in a research report on Friday, September 8th. BidaskClub raised shares of Conn's from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Finally, TheStreet raised shares of Conn's from a “d+” rating to a “c” rating in a research report on Thursday, September 7th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Conn's currently has an average rating of “Buy” and an average price target of $37.50.
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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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