Conn’s Target of Unusually Large Options Trading (CONN)

Conn’s (NASDAQ:CONN) was the target of unusually large options trading on Thursday. Stock investors purchased 2,690 put options on the stock. This is an increase of approximately 2,732% compared to the average daily volume of 95 put options.

Several large investors have recently added to or reduced their stakes in CONN. QS Investors LLC purchased a new stake in shares of Conn’s during the fourth quarter valued at approximately $194,000. Capital Fund Management S.A. purchased a new stake in shares of Conn’s during the fourth quarter valued at approximately $213,000. Allianz Asset Management GmbH purchased a new stake in shares of Conn’s during the third quarter valued at approximately $224,000. Two Sigma Investments LP purchased a new stake in shares of Conn’s during the fourth quarter valued at approximately $229,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Conn’s during the fourth quarter valued at approximately $232,000. 68.81% of the stock is owned by hedge funds and other institutional investors.

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Several brokerages have issued reports on CONN. BidaskClub raised Conn’s from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. ValuEngine raised Conn’s from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Stephens upped their target price on Conn’s from $39.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, December 14th. Zacks Investment Research lowered Conn’s from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 27th. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Conn’s in a research note on Wednesday, December 13th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $37.50.

NASDAQ:CONN opened at $27.70 on Friday. The company has a market cap of $1,124.64, a PE ratio of -125.91, a P/E/G ratio of 0.64 and a beta of 1.71. Conn’s has a fifty-two week low of $11.30 and a fifty-two week high of $37.80. The company has a quick ratio of 3.04, a current ratio of 3.94 and a debt-to-equity ratio of 1.84.

Conn’s (NASDAQ:CONN) last released its quarterly earnings data on Thursday, April 5th. The specialty retailer reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. The firm had revenue of $420.40 million during the quarter, compared to analyst estimates of $429.67 million. Conn’s had a return on equity of 2.64% and a net margin of 0.21%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 earnings per share. sell-side analysts anticipate that Conn’s will post 0.88 earnings per share for the current year.

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Conn’s Company Profile

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 provide furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; home appliances comprising refrigerators, freezers, washers, dryers, dishwashers, and ranges; and home office products consisting of computers, printers, and accessories.

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