The stock of Sothebys (NYSE:BID) is a huge mover today! About 418,688 shares traded hands. Sothebys (NYSE:BID) has risen 31.26% since April 5, 2016 and is uptrending. It has outperformed by 29.30% the S&P500.
The move comes after 5 months positive chart setup for the $2.00B company. It was reported on Nov, 7 by Barchart.com. We have $51.69 PT which if reached, will make NYSE:BID worth $820.00 million more.
Analysts await Sothebys (NYSE:BID) to report earnings on November, 14. They expect $-0.34 EPS, down 30.77% or $0.08 from last year’s $-0.26 per share. After $1.51 actual EPS reported by Sothebys for the previous quarter, Wall Street now forecasts -122.52% negative EPS growth.
Sothebys (NYSE:BID) Ratings Coverage
Out of 8 analysts covering Sotheby’s (NYSE:BID), 1 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 13% are positive. Sotheby’s has been the topic of 12 analyst reports since July 28, 2015 according to StockzIntelligence Inc. As per Wednesday, January 20, the company rating was initiated by Standpoint Research. The stock of Sothebys (NYSE:BID) has “Buy” rating given on Friday, December 18 by Stifel Nicolaus. The firm earned “Hold” rating on Thursday, February 11 by Sitfel. Williams Capital Group maintained the shares of BID in a report on Thursday, September 3 with “Buy” rating. The company was downgraded on Thursday, February 11 by Stifel Nicolaus. Stifel Nicolaus maintained the shares of BID in a report on Tuesday, November 10 with “Buy” rating. The company was downgraded on Friday, February 26 by Barrington Research. As per Thursday, April 14, the company rating was downgraded by Standpoint Research. The stock of Sothebys (NYSE:BID) has “Hold” rating given on Tuesday, July 28 by TheStreet.
According to Zacks Investment Research, “Sotheby’s Holdings, Inc. is one of the world’s second largest auctioneers of fine arts, antiques and collectibles, offering property in collecting categories, among them paintings, jewelry, decorative arts, and books. Sotheby’s Holdings, Inc is the parent company of Sotheby’s worldwide auction businesses, art-related financing and private sales activities. The Company operates in countries, with principal salesrooms located in New York and London. The company also regularly conducts auctions in other salesrooms around the world, including Australia, Hong Kong, France, Italy, the Netherlands, Switzerland and Singapore.”
Insitutional Activity: The institutional sentiment decreased to 0.57 in Q2 2016. Its down 0.10, from 0.67 in 2016Q1. The ratio dropped, as 37 funds sold all Sothebys shares owned while 78 reduced positions. 27 funds bought stakes while 38 increased positions. They now own 55.16 million shares or 4.11% less from 57.52 million shares in 2016Q1.
Geode Mgmt Ltd reported 355,631 shares or 0.01% of all its holdings. Parametric Portfolio Assoc Ltd Liability Company, a Washington-based fund reported 123,750 shares. William Harris has invested 0.06% of its portfolio in Sothebys (NYSE:BID). Kbc Nv has 8,159 shares for 0% of their US portfolio. Hexavest last reported 1,900 shares in the company. Moreover, Nuveen Asset Mngmt Ltd Liability Corp has 0% invested in Sothebys (NYSE:BID) for 28,966 shares. Stifel Fincl Corporation has 12,918 shares for 0% of their US portfolio. Arcadia Management Mi has 0% invested in the company for 500 shares. Ubs Asset Mngmt Americas has 38,853 shares for 0% of their US portfolio. Great Lakes Advsrs Ltd Limited Liability Company last reported 0.05% of its portfolio in the stock. Rhumbline Advisers last reported 109,767 shares in the company. Advisors Asset Management has invested 0% of its portfolio in Sothebys (NYSE:BID). Cantab Cap Prns Limited Liability Partnership reported 904 shares or 0% of all its holdings. Ls Invest Llc, a Michigan-based fund reported 3,228 shares. Moreover, California Employees Retirement Sys has 0.01% invested in Sothebys (NYSE:BID) for 182,300 shares.
Insider Transactions: Since May 11, 2016, the stock had 4 insider purchases, and 1 insider sale for $500,978 net activity. The insider WEIBLING DENNIS M bought 4,000 shares worth $110,083. $18,601 worth of Sothebys (NYSE:BID) was sold by DELANEY KEVIN M on Monday, August 8. $151,421 worth of Sothebys (NYSE:BID) was bought by Wilson Harry James. On Thursday, June 2 DE SOLE DOMENICO bought $200,536 worth of the stock or 6,620 shares. The insider GOSS MICHAEL F bought 50,000 shares worth $1.39M.
More notable recent Sothebys (NYSE:BID) news were published by: Nytimes.com which released: “Sotheby’s Reports $54.5 Million Loss in 3rd Quarter” on November 07, 2016, also Bloomberg.com with their article: “Sotheby’s Names Linus Cheung First Asian Director as Loss Widens” published on November 07, 2016, Nytimes.com published: “Arts|Want Your Own Piece of Hamilton? Head to Sotheby’s” on November 01, 2016. More interesting news about Sothebys (NYSE:BID) were released by: Marketwatch.com and their article: “Sotheby’s posts wider-than-expected loss, but revenue beats” published on November 07, 2016 as well as Nypost.com‘s news article titled: “Chef Geoffrey Zakarian to host Sotheby’s food festival” with publication date: November 07, 2016.
BID Company Profile
Sotheby’s, incorporated on March 30, 2006, is a global art business company. The Firm operates in two divisions: Agency and Finance. The Agency segment earns commissions by matching buyers and sellers of authenticated fine art, decorative art, jewelry, wine and collectibles (collectively, art or works of art or artwork or property) through the auction or private sale process. The Company’s Agency segment activities also include the sale of artworks that are principally acquired incidental to the auction process and the activities of RM Sotheby’s. The Finance segment earns interest income through art-related financing activities by making loans that are secured by works of art. Activities, including Sotheby’s retail wine operations, Acquavella Modern Art (AMA), an equity investee, and sales of the remaining inventory of Noortman Master Paintings, an art dealer that was owned and operated by Sotheby’s are reported within all other segment. All other segment also includes Sotheby’s brand licensing activities and other ancillary businesses.
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