Stock Mover of the Day: Could Sothebys Recover After Today’s Significant Decline?

Stock Mover of the Day: Could Sothebys Recover After Today's Significant Decline?

The stock of Sothebys (NYSE:BID) is a huge mover today! The stock decreased 4.12% or $1.6 during the last trading session, hitting $37.24. About 729,129 shares traded hands or 29.63% up from the average. Sothebys (NYSE:BID) has risen 40.93% since April 14, 2016 and is uptrending. It has outperformed by 36.24% the S&P500.
The move comes after 8 months negative chart setup for the $2.02 billion company. It was reported on Nov, 16 by Barchart.com. We have $35.38 PT which if reached, will make NYSE:BID worth $101.00M less.

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. The firm earned “Buy” rating on Thursday, September 3 by Williams Capital Group. Standpoint Research downgraded Sothebys (NYSE:BID) on Thursday, April 14 to “Hold” rating. Stifel Nicolaus maintained Sothebys (NYSE:BID) on Tuesday, November 10 with “Buy” rating. On Friday, February 26 the stock rating was downgraded by Barrington Research to “Mkt Perform”. The firm has “Buy” rating given on Friday, December 18 by Stifel Nicolaus. The firm has “Buy” rating by Standpoint Research given on Wednesday, January 20. The rating was downgraded by TheStreet on Tuesday, July 28 to “Hold”. The stock of Sothebys (NYSE:BID) earned “Hold” rating by Stifel Nicolaus on Thursday, February 11. The firm has “Hold” rating by Sitfel given on Thursday, February 11.

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 2016 Q2. Its down 0.10, from 0.67 in 2016Q1. The ratio dived, 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.
Fuller Thaler Asset Mgmt Inc holds 0.47% of its portfolio in Sothebys (NYSE:BID) for 1.01M shares. Fosun Intl has 25,002 shares for 0.07% of their US portfolio. The Massachusetts-based Hall Laurie J Trustee has invested 0% in Sothebys (NYSE:BID). Mycio Wealth Prtn Ltd Limited Liability Company reported 150 shares or 0% of all its holdings. Seven Eight Ltd Liability Com accumulated 33,390 shares or 0.31% of the stock. Villere St Denis J And Communication Ltd Company holds 1.97 million shares or 3.25% of its portfolio. William Harris Inc holds 8,642 shares or 0.06% of its portfolio. Morgan Stanley holds 0% or 270,627 shares in its portfolio. Financial Bank Of Montreal Can last reported 0% of its portfolio in the stock. Nordea Investment Management Ab holds 184,669 shares or 0.01% of its portfolio. Gates Cap Mngmt holds 1.19 million shares or 1.11% of its portfolio. Conestoga Advsrs Ltd Llc last reported 366,290 shares in the company. Metropolitan Life Insurance New York accumulated 86,421 shares or 0.02% of the stock. Wright has invested 0.1% of its portfolio in Sothebys (NYSE:BID). Goldman Sachs Gp Inc Inc, a New York-based fund reported 621,229 shares.

Insider Transactions: Since May 17, 2016, the stock had 3 insider purchases, and 1 sale for $1.07 million net activity. 21,000 shares with value of $738,190 were bought by Taikang Insurance Group – Inc. on Wednesday, November 9. 6,620 Sothebys (NYSE:BID) shares with value of $200,536 were bought by DE SOLE DOMENICO. 5,000 shares with value of $151,421 were bought by Wilson Harry James on Wednesday, June 1. WEIBLING DENNIS M bought 2,000 shares worth $56,060. DELANEY KEVIN M sold 542 shares worth $18,601.

More notable recent Sothebys (NYSE:BID) news were published by: Nytimes.com which released: “Edvard Munch Brings $54 Million Amid ‘Thinner’ Sales at Sotheby’s” on November 15, 2016, also Nytimes.com with their article: “Arts|Sotheby’s Reports $54.5 Million Loss in 3rd Quarter” 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: Therealdeal.com and their article: “Sotheby’s nixes plan to sell East Side HQ” published on November 14, 2016 as well as Bloomberg.com‘s news article titled: “Cohen’s Point72 Exited Stake in Sotheby’s Amid Rise in Shares” with publication date: November 14, 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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