Landscape Capital Management L.L.C. Purchases 18,552 Shares of Sothebys (NYSE:BID)

Landscape Capital Management L.L.C. raised its position in shares of Sothebys (NYSE:BID) by 35.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 70,626 shares of the specialty retailer’s stock after purchasing an additional 18,552 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Sothebys were worth $4,105,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC grew its stake in shares of Sothebys by 1.0% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,533,300 shares of the specialty retailer’s stock valued at $57,882,000 after purchasing an additional 15,445 shares during the period. Norges Bank bought a new stake in shares of Sothebys during the 4th quarter valued at about $24,710,000. State of Wisconsin Investment Board grew its stake in shares of Sothebys by 46.9% during the 1st quarter. State of Wisconsin Investment Board now owns 443,695 shares of the specialty retailer’s stock valued at $16,749,000 after purchasing an additional 141,740 shares during the period. Geode Capital Management LLC grew its stake in shares of Sothebys by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 372,738 shares of the specialty retailer’s stock valued at $14,812,000 after purchasing an additional 4,493 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of Sothebys by 172.9% during the 4th quarter. Deutsche Bank AG now owns 288,471 shares of the specialty retailer’s stock valued at $11,462,000 after purchasing an additional 182,780 shares during the period.

Shares of NYSE:BID traded down $0.14 during mid-day trading on Thursday, reaching $58.10. 35,056 shares of the company traded hands, compared to its average volume of 339,443. The stock’s 50 day simple moving average is $58.36. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 23.46 and a beta of 1.99. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 2.07. Sothebys has a 52 week low of $32.01 and a 52 week high of $59.94.

Sothebys (NYSE:BID) last announced its quarterly earnings data on Tuesday, July 30th. The specialty retailer reported $1.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.58 by ($0.11). The company had revenue of $361.78 million for the quarter, compared to the consensus estimate of $336.58 million. Sothebys had a net margin of 10.47% and a return on equity of 28.39%. During the same quarter last year, the firm posted $1.09 earnings per share. On average, analysts forecast that Sothebys will post 2.63 EPS for the current year.

BID has been the subject of a number of recent research reports. Berenberg Bank reiterated a “hold” rating and set a $57.00 price objective on shares of Sothebys in a research note on Wednesday, June 19th. TheStreet downgraded Sothebys from a “b-” rating to a “c” rating in a research note on Wednesday, May 15th. ValuEngine upgraded Sothebys from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Evercore ISI reiterated a “hold” rating and set a $57.00 price objective on shares of Sothebys in a research note on Thursday, August 8th. Finally, Zacks Investment Research downgraded Sothebys from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $54.80.

Sothebys Company Profile

Sotheby's operates as an auctioneer of authenticated fine art, decorative art, jewelry, wine, and collectibles in the United States, the United Kingdom, Hong Kong, China, Switzerland, France, and internationally. The company operates in two segments, Agency and Finance. The Agency segment accepts property on consignment; and matches sellers to buyers through the auction or private sale process.

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Institutional Ownership by Quarter for Sothebys (NYSE:BID)

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