The stock of Conn’s Inc (NASDAQ:CONN) is a huge mover today! About 297,755 shares traded hands. Conn’s Inc (NASDAQ:CONN) has declined 33.06% since April 4, 2016 and is downtrending. It has underperformed by 34.15% the S&P500.
The move comes after 9 months positive chart setup for the $255.14M company. It was reported on Nov, 4 by Barchart.com. We have $21.61 PT which if reached, will make NASDAQ:CONN worth $375.06M more.
Conn’s Inc (NASDAQ:CONN) Ratings Coverage
Out of 3 analysts covering CONN’S (NASDAQ:CONN), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. CONN’S has been the topic of 8 analyst reports since August 17, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Stifel Nicolaus given on Wednesday, September 21. Stephens upgraded Conn’s Inc (NASDAQ:CONN) on Tuesday, March 15 to “Overweight” rating. On Friday, June 3 the stock rating was downgraded by Piper Jaffray to “Neutral”. The stock has “Buy” rating given by Piper Jaffray on Monday, August 17. The rating was downgraded by Stifel Nicolaus on Wednesday, January 13 to “Hold”. The firm has “Buy” rating by Stifel Nicolaus given on Wednesday, December 9. Stifel Nicolaus downgraded Conn’s Inc (NASDAQ:CONN) on Tuesday, September 15 to “Hold” rating. The stock of Conn’s Inc (NASDAQ:CONN) earned “Buy” rating by Stifel Nicolaus on Tuesday, December 1.
According to Zacks Investment Research, “Conns Inc is a specialty retailer currently operating retail locations in Texas and Louisiana. It sells major home appliances, including refrigerators, freezers, washers, dryers and ranges, and a variety of consumer electronics, including projection, plasma and LCD televisions, camcorders, VCRs, DVD players and home theater products. They also sell home office equipment, lawn and garden products and bedding, and continue to introduce additional product categories for the home to help increase same store sales and to respond to their customers’ product needs.”
Insitutional Activity: The institutional sentiment decreased to 0.48 in Q2 2016. Its down 0.76, from 1.24 in 2016Q1. The ratio is negative, as 18 funds sold all Conn’s Inc shares owned while 40 reduced positions. 6 funds bought stakes while 22 increased positions. They now own 19.25 million shares or 18.72% less from 23.68 million shares in 2016Q1.
Pnc Fin Services Group holds 559 shares or 0% of its portfolio. Anchorage Cap Group holds 4.55 million shares or 0.82% of its portfolio. Wolverine Asset Mngmt Lc reported 914 shares or 0% of all its holdings. The New Jersey-based Blackrock Invest Mgmt Limited Co has invested 0% in Conn’s Inc (NASDAQ:CONN). Natixis holds 0% of its portfolio in Conn’s Inc (NASDAQ:CONN) for 16,000 shares. Cwm Llc last reported 500 shares in the company. Ladenburg Thalmann Financial Svcs accumulated 4,400 shares or 0% of the stock. Dimensional Fund Advsrs L P last reported 1.57M shares in the company. Gp One Trading Ltd Partnership last reported 40,201 shares in the company. The Illinois-based Northern has invested 0% in Conn’s Inc (NASDAQ:CONN). California Public Employees Retirement last reported 0% of its portfolio in the stock. Moreover, Gam Holdg Ag has 0.07% invested in Conn’s Inc (NASDAQ:CONN) for 600,000 shares. Vanguard Gru holds 0% or 1.54 million shares in its portfolio. The California-based Schwab Charles Invest has invested 0% in Conn’s Inc (NASDAQ:CONN). Financial Bank Of America Corp De reported 51,288 shares or 0% of all its holdings.
Insider Transactions: Since June 2, 2016, the stock had 5 buys, and 1 insider sale for $7.17 million net activity. Shares for $2.02 million were bought by WARREN A STEPHENS GRANTORS TRUST. 1.00M shares were bought by STEPHENS WARREN A, worth $7.10 million on Friday, July 15. $7.10 million worth of Conn’s Inc (NASDAQ:CONN) shares were bought by STEPHENS HARRIET C. Luxor Capital Group – LP sold $9.46M worth of stock or 1.07 million shares.
More recent Conn’s Inc (NASDAQ:CONN) news were published by: Reuters.com which released: “BRIEF-Conn’s Inc announces closing of sale of class C notes from March 201…” on October 13, 2016. Also Businesswire.com published the news titled: “Conn’s, Inc. Announces Sale of Class C Notes from March 2016 Securitization …” on October 10, 2016. Businesswire.com‘s news article titled: “Conn’s, Inc. Announces Closing of Sale of Class C Notes from March 2016 …” with publication date: October 13, 2016 was also an interesting one.
CONN Company Profile
Conn’s, Inc. (Conn’s), incorporated on January 15, 2003, 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 Firm operates through two divisions: retail and credit. The Company’s product offerings include furniture and mattresses, home appliances, consumer electronics and home office products. The Company’s credit offering provides financing solutions to credit constrained clients having limited banking options. It operates in approximately nine regional distribution centers located in Houston, San Antonio, Dallas, Beaumont, El Paso and McAllen, Texas; Phoenix, Arizona; Denver, Colorado and Charlotte, North Carolina; over 10 smaller cross-dock facilities, and approximately 20 stores with cross-dock facilities. The Firm operates its business through its retail stores and Website.
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