Bank of New York Mellon Corp Trims Stake in Conn’s (CONN)

Bank of New York Mellon Corp trimmed its holdings in Conn’s (NASDAQ:CONN) by 7.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 144,527 shares of the specialty retailer’s stock after selling 10,969 shares during the period. Bank of New York Mellon Corp owned 0.46% of Conn’s worth $5,139,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CONN. Capital Fund Management S.A. purchased a new stake in shares of Conn’s in the fourth quarter valued at about $213,000. Allianz Asset Management GmbH purchased a new position in Conn’s during the third quarter worth about $224,000. Raymond James Financial Services Advisors Inc. purchased a new position in Conn’s during the fourth quarter worth about $239,000. Teacher Retirement System of Texas purchased a new position in Conn’s during the fourth quarter worth about $243,000. Finally, Sei Investments Co. purchased a new position in Conn’s during the third quarter worth about $244,000. 68.81% of the stock is owned by institutional investors and hedge funds.

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NASDAQ CONN opened at $27.70 on Monday. Conn’s has a 52-week low of $11.30 and a 52-week high of $37.80. The company has a debt-to-equity ratio of 1.84, a current ratio of 3.94 and a quick ratio of 3.04. The stock has a market cap of $874.02, a P/E ratio of 29.16, a PEG ratio of 0.50 and a beta of 1.71.

Conn’s (NASDAQ:CONN) last issued its earnings results on Thursday, April 5th. The specialty retailer reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.02. Conn’s had a net margin of 0.43% and a return on equity of 5.75%. The company had revenue of $420.40 million during the quarter, compared to analysts’ expectations of $429.67 million. During the same period last year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. sell-side analysts predict that Conn’s will post 2.38 EPS for the current fiscal year.

Several research analysts recently issued reports on the stock. BidaskClub raised shares of Conn’s from a “hold” rating to a “buy” rating in a report on Wednesday, April 4th. ValuEngine raised shares of Conn’s from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Zacks Investment Research cut shares of Conn’s from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 27th. Stephens increased their price target on shares of Conn’s from $39.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, December 14th. Finally, Oppenheimer reissued a “buy” rating on shares of Conn’s in a report on Wednesday, December 13th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $37.50.

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About Conn’s

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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Institutional Ownership by Quarter for Conn`s (NASDAQ:CONN)

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