Here is the rundown on market activity for Conn’s, Inc. (NASDAQ:CONN). Douglas H. Martin, Director reported the purchase of 10,000 shares. The shares were bought on June 7th for an average price of $17.83. The Director now owns $692,285 of the stock per the Form 4 SEC filing. Brian Daly, Chief Human Resources Officer bought $100,048 worth of shares at an average price of $13.52 on April 20th. That brings the Chief Human Resources Officer’s holdings to $360,335 per an SEC filing yesterday.
David W. Trahan, President- Retail disclosed the sale of 62,749 shares of (CONN). The shares were purchased at an average price of $12.98. Trahan now owns $1,805,959 of the stock according to the SEC filing.
Conn’s, Inc. (Conn’s), launched on January 15, 2003, 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. Its product offerings include furniture and mattresses, home appliances, consumer electronics and home office products. Its credit offering provides financing solutions to credit constrained consumers having limited banking options. It operates in approximately nine regional distribution centers located in Houston, San Antonio, Dallas, Beaumont, El Paso and McAllen, Texas; Phoenix, Arizona; Denver, Colorado and Charlotte, North Carolina; over 10 smaller cross-dock facilities, and approximately 20 stores with cross-dock facilities. The Company operates its business through its retail stores and Website..
The following firms have also recently changed their position in CONN. Marianas Fund Management LLC reduced its investment by selling 91,500 shares a decrease of 29.4% in the quarter. Marianas Fund Management LLC controls 219,439 shares valued at $1,920,000. The total value of its holdings decreased 51.2%. Morgan Stanley grew its holdings by buying 420 shares an increase of 42.0% as of 03/31/2017. Morgan Stanley currently owns 1,420 shares with a value of $12,000. The value of the position overall is down by 7.7%.
As of the end of the quarter Tower Research Capital LLC (trc) had acquired 730 shares growing its position 146.0%. The value of the company’s investment in Conn’s, Inc. increased from $6,000 to $11,000 increasing 83.3% quarter to quarter. As of quarter end Goldman Sachs Group Inc had sold a total of 5,200 shares trimming its holdings by 80.0%. The value of the total investment in Conn’s, Inc. went from $82,000 to $11,000 a change of $71,000 since the last quarter.
On September 21 the company was upgraded from “Hold” to “Buy” in a report from Stifel Nicolaus. On June 3 the stock rating was downgraded to “Neutral” from “Overweight” in a statement from Piper Jaffray.
On March 15, 2016 the stock rating was changed to a “Overweight” according to a Stephens & Co. report a boost from the previous “Equal-weight” rating. On January 13 the company was downgraded to “Hold” from “Buy” in a report issued by Stifel Nicolaus.
On December 1 the company was rated “Buy” in a report from Stifel Nicolaus which is up from the previous “Hold” rating. On September 15 the company was downgraded from “Buy” to “Hold” in an announcement from Stifel Nicolaus.
The company is so far trading down from yesterday’s close of $19.25. Shares of the company are trading at $19.20 a tad above $16.70, the 50 day moving average and which is marginally over the 200 day moving average of $12.44. The 50 day moving average was up $2.50 or +14.94% and the 200 day average went up $6.76 or +54.40%.
In the latest earnings report the EPS was $-0.83 and is projected to be $0.49 for the current year with 30,957,000 shares currently outstanding. Next quarter’s EPS is estimated at $0.13 with next year’s EPS anticipated to be $1.19.
Traders are feeling more bullish on Conn’s, Inc. of late if you put credence in the motion in short interest. The firm recorded a fall in short interest between May 15, 2017 and April 28, 2017 of -14.12%. Short interest decreased 1,010,015 over that timeframe. With short interest at 6,140,682 and short average daily volume at 465,984, the short-interest ratio is 13.2 and the short interest percentage is 0.20% as of April 28.