Is Sothebys a Buy? The Stock Had Bullish Options Activity Today

 Is Sothebys a Buy? The Stock Had Bullish Options Activity Today

In today’s session Sothebys (BID) registered an unusually high (255) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious BID increase. With 255 contracts traded and 914 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: BID161118C00038000 closed last at: $1.4 or 133.3% up. About 176,253 shares traded hands. Sothebys (NYSE:BID) has risen 36.30% since April 7, 2016 and is uptrending. It has outperformed by 31.51% the S&P500.

Analysts await Sothebys (NYSE:BID) to report earnings on November, 14. They expect $-0.34 earnings per share, down 30.77% or $0.08 from last year’s $-0.26 per share. After $1.51 actual earnings per share 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. Barrington Research downgraded Sothebys (NYSE:BID) on Friday, February 26 to “Mkt Perform” rating. The firm has “Buy” rating by Stifel Nicolaus given on Friday, December 18. The rating was maintained by Stifel Nicolaus with “Buy” on Tuesday, November 10. The company was initiated on Wednesday, January 20 by Standpoint Research. The stock of Sothebys (NYSE:BID) earned “Buy” rating by Williams Capital Group on Thursday, September 3. The stock has “Hold” rating given by Sitfel on Thursday, February 11. On Thursday, April 14 the stock rating was downgraded by Standpoint Research to “Hold”. The firm has “Hold” rating given on Thursday, February 11 by Stifel Nicolaus. The firm earned “Hold” rating 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.
Public Employees Retirement Association Of Colorado holds 0% or 11,052 shares in its portfolio. Morgan Stanley holds 0% of its portfolio in Sothebys (NYSE:BID) for 270,627 shares. Advantus reported 6,311 shares or 0% of all its holdings. Moreover, Price T Rowe Associate Md has 0% invested in Sothebys (NYSE:BID) for 337,996 shares. Moreover, Sei Invests has 0% invested in Sothebys (NYSE:BID) for 5,858 shares. Invesco Ltd accumulated 90,214 shares or 0% of the stock. Van Berkom And Inc last reported 1.65M shares in the company. Wright Investors Ser, a Connecticut-based fund reported 8,565 shares. Envestnet Asset Mngmt has 0% invested in the company for 2,201 shares. 1832 Asset Lp holds 0.02% of its portfolio in Sothebys (NYSE:BID) for 207,000 shares. Great Lakes Limited Liability Company holds 0.05% or 69,184 shares in its portfolio. Moreover, Paloma Prtnrs Mgmt has 0.01% invested in Sothebys (NYSE:BID) for 29,113 shares. Moreover, Rwc Asset Llp has 0.28% invested in Sothebys (NYSE:BID) for 151,563 shares. Retail Bank Of Montreal Can accumulated 25,526 shares or 0% of the stock. Amalgamated Natl Bank has 6,387 shares for 0.01% of their US portfolio.

Insider Transactions: Since May 11, 2016, the stock had 4 insider buys, and 1 sale for $500,978 net activity. Shares for $1.39 million were bought by GOSS MICHAEL F. On Monday, August 8 DELANEY KEVIN M sold $18,601 worth of the stock or 542 shares. DE SOLE DOMENICO bought 6,620 shares worth $200,536. On Tuesday, May 17 the insider WEIBLING DENNIS M bought $56,060. Shares for $151,421 were bought by Wilson Harry James.

Sotheby’s is a global art business company. The company has a market cap of $1.70 billion. The Firm operates in two divisions: Agency and Finance. It currently has negative earnings. The Agency segment earns commissions by matching buyers and sellers of authenticated fine art, decorative art, jewelry, wine and collectibles through the auction or private sale process.

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.

More important recent Sothebys (NYSE:BID) news were published by: Nytimes.com which released: “Arts|Sotheby’s Reports $54.5 Million Loss in 3rd Quarter” on November 07, 2016, also Nytimes.com published article titled: “Arts|Want Your Own Piece of Hamilton? Head to Sotheby’s”, Fool.com published: “Why Tenet Healthcare, Chemours, and Sotheby’s Jumped Today” on November 07, 2016. More interesting news about Sothebys (NYSE:BID) was released by: Crainsnewyork.com and their article: “Sotheby’s names first Asian director as sales decline accelerates” with publication date: November 07, 2016.

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