Conn’s, Inc. (NASDAQ:CONN) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in Conn’s, Inc. (NASDAQ:CONN – Get Rating) by 21.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,185 shares of the specialty retailer’s stock after selling 3,305 shares during the quarter. New York State Teachers Retirement System’s holdings in Conn’s were worth $86,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in Conn’s by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,127,617 shares of the specialty retailer’s stock worth $32,789,000 after buying an additional 58,422 shares during the period. State Street Corp boosted its holdings in Conn’s by 11.4% in the first quarter. State Street Corp now owns 920,248 shares of the specialty retailer’s stock valued at $14,181,000 after purchasing an additional 94,199 shares during the last quarter. Invesco Ltd. boosted its holdings in Conn’s by 16.2% in the first quarter. Invesco Ltd. now owns 770,198 shares of the specialty retailer’s stock valued at $11,869,000 after purchasing an additional 107,484 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Conn’s by 12.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 474,698 shares of the specialty retailer’s stock valued at $3,808,000 after purchasing an additional 51,780 shares in the last quarter. Finally, Gabelli Funds LLC boosted its stake in shares of Conn’s by 100.0% during the 1st quarter. Gabelli Funds LLC now owns 400,000 shares of the specialty retailer’s stock valued at $6,164,000 after buying an additional 200,000 shares during the last quarter. 72.77% of the stock is owned by hedge funds and other institutional investors.

Conn’s Stock Performance

Conn’s stock opened at $10.14 on Friday. The company has a fifty day moving average price of $8.35 and a two-hundred day moving average price of $8.78. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.33 and a quick ratio of 2.28. Conn’s, Inc. has a 12 month low of $5.69 and a 12 month high of $25.79. The company has a market cap of $242.80 million, a PE ratio of -23.05 and a beta of 2.42.

Conn’s (NASDAQ:CONN – Get Rating) last released its quarterly earnings data on Tuesday, December 6th. The specialty retailer reported ($0.78) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.07. The firm had revenue of $321.20 million for the quarter, compared to analyst estimates of $317.62 million. Conn’s had a negative net margin of 0.63% and a negative return on equity of 0.32%. Research analysts expect that Conn’s, Inc. will post -1.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CONN shares. Stephens cut their price target on shares of Conn’s from $13.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 7th. TheStreet cut shares of Conn’s from a “c-” rating to a “d” rating in a research report on Tuesday, December 6th. Finally, StockNews.com upgraded Conn’s from a “sell” rating to a “hold” rating in a research note on Thursday, December 15th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.50.

Insider Activity

In related news, Director Douglas H. Martin acquired 4,000 shares of Conn’s stock in a transaction that occurred on Tuesday, December 27th. The stock was acquired at an average price of $6.35 per share, for a total transaction of $25,400.00. Following the transaction, the director now directly owns 64,042 shares of the company’s stock, valued at approximately $406,666.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 6.64% of the company’s stock.

Conn’s Profile

(Get Rating)

Conn's, Inc operates as a specialty retailer of durable consumer goods and related services in the United States. It operates through two segments, Retail and Credit. The company's stores offer furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as flat and other mattresses; and home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges.