Sothebys (NYSE:BID) Director Sells $1,028,720.00 in Stock

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Sothebys (NYSE:BID) Director Dennis M. Weibling sold 17,600 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $58.45, for a total transaction of $1,028,720.00. Following the completion of the sale, the director now directly owns 25,000 shares in the company, valued at $1,461,250. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

BID stock opened at $58.83 on Thursday. The firm’s fifty day simple moving average is $58.37 and its 200-day simple moving average is $45.62. The company has a market capitalization of $2.71 billion, a P/E ratio of 23.72 and a beta of 1.99. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.04 and a quick ratio of 1.01. Sothebys has a 12 month low of $32.01 and a 12 month high of $59.94.

Sothebys (NYSE:BID) last released its quarterly earnings data on Tuesday, July 30th. The specialty retailer reported $1.47 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.11). The business had revenue of $361.78 million during the quarter, compared to analysts’ expectations of $336.58 million. Sothebys had a net margin of 10.47% and a return on equity of 28.39%. During the same period last year, the company earned $1.09 earnings per share. As a group, sell-side analysts forecast that Sothebys will post 2.63 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. QCI Asset Management Inc. NY purchased a new stake in Sothebys during the second quarter worth $44,000. PNC Financial Services Group Inc. boosted its holdings in Sothebys by 34.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,048 shares of the specialty retailer’s stock worth $40,000 after buying an additional 271 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Sothebys by 339.6% during the first quarter. Quadrant Capital Group LLC now owns 1,609 shares of the specialty retailer’s stock worth $59,000 after buying an additional 1,243 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Sothebys by 54.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,900 shares of the specialty retailer’s stock worth $110,000 after buying an additional 669 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in Sothebys during the first quarter worth $75,000.

Several research firms have recently commented on BID. Zacks Investment Research downgraded shares of Sothebys from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. TheStreet downgraded shares of Sothebys from a “b-” rating to a “c” rating in a report on Wednesday, May 15th. Berenberg Bank reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Sothebys in a report on Wednesday, June 19th. ValuEngine raised shares of Sothebys from a “hold” rating to a “buy” rating in a report on Monday, June 17th. Finally, Evercore ISI reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Sothebys in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Sothebys has an average rating of “Hold” and an average target price of $54.80.

About Sothebys

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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