Luzich Partners LLC boosted its holdings in Conn's Inc (NASDAQ:CONN) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 315,822 shares of the specialty retailer’s stock after buying an additional 10,000 shares during the quarter. Conn's accounts for about 7.5% of Luzich Partners LLC’s investment portfolio, making the stock its 8th largest position. Luzich Partners LLC owned approximately 1.01% of Conn's worth $8,890,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of CONN. Russell Investments Group Ltd. grew its position in Conn's by 269.9% in the third quarter. Russell Investments Group Ltd. now owns 426,473 shares of the specialty retailer’s stock worth $12,005,000 after buying an additional 311,178 shares during the last quarter. EAM Investors LLC acquired a new position in Conn's in the second quarter worth approximately $4,168,000. Prudential Financial Inc. acquired a new position in Conn's in the third quarter worth approximately $6,050,000. State Street Corp grew its position in Conn's by 45.9% in the second quarter. State Street Corp now owns 566,793 shares of the specialty retailer’s stock worth $10,828,000 after buying an additional 178,277 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Conn's by 37,046.2% in the third quarter. JPMorgan Chase & Co. now owns 163,072 shares of the specialty retailer’s stock worth $4,182,000 after buying an additional 162,633 shares during the last quarter. Hedge funds and other institutional investors own 71.49% of the company’s stock.
Conn's Inc (NASDAQ CONN) traded down $1.40 during midday trading on Friday, reaching $35.55. 574,774 shares of the company’s stock traded hands, compared to its average volume of 639,171. Conn's Inc has a 12-month low of $7.75 and a 12-month high of $37.80. The company has a debt-to-equity ratio of 1.84, a quick ratio of 3.04 and a current ratio of 3.94. The stock has a market cap of $1,159.14, a PE ratio of 323.21, a price-to-earnings-growth ratio of 1.82 and a beta of 1.86.
In other news, major shareholder Anchorage Capital Group, L.L.C sold 1,600,000 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $34.05, for a total transaction of $54,480,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Harriet C. Stephens purchased 42,000 shares of the stock in a transaction dated Friday, October 13th. The shares were bought at an average price of $25.40 per share, for a total transaction of $1,066,800.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 66,000 shares of company stock worth $1,685,500. 3.48% of the stock is currently owned by corporate insiders.
Several research analysts have issued reports on the stock. Oppenheimer restated a “buy” rating on shares of Conn's in a research report on Wednesday, December 13th. Zacks Investment Research upgraded shares of Conn's from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, September 13th. SunTrust Banks restated a “buy” rating and issued a $33.00 price target on shares of Conn's in a research report on Thursday, October 19th. Stifel Nicolaus lowered shares of Conn's from a “buy” rating to a “hold” rating and lifted their price target for the stock from $26.00 to $30.00 in a research report on Monday, October 9th. Finally, Stephens lifted their price objective on shares of Conn's from $39.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, December 14th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $37.50.
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Conn's Company Profile
Conn’s, Inc 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. The Retail segment includes product categories, such as furniture and mattress, including furniture and related accessories for the living room, dining room and bedroom; home appliance, including refrigerators, freezers, washers, dryers, dishwashers and ranges; Consumer electronics, including liquid-crystal-display (LED), organic LED (OLED), Ultra high definition (HD) and Internet-ready televisions, and home office, including computers, printers and accessories.
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