Prudential Financial Inc. Buys New Holdings in Conn's Inc (CONN)

Prudential Financial Inc. purchased a new stake in Conn's Inc (NASDAQ:CONN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 214,905 shares of the specialty retailer’s stock, valued at approximately $6,050,000. Prudential Financial Inc. owned 0.69% of Conn's at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CONN. American International Group Inc. raised its position in shares of Conn's by 7.1% in the 1st quarter. American International Group Inc. now owns 12,501 shares of the specialty retailer’s stock valued at $109,000 after purchasing an additional 830 shares in the last quarter. California Public Employees Retirement System increased its position in Conn's by 27.9% in the first quarter. California Public Employees Retirement System now owns 188,300 shares of the specialty retailer’s stock worth $1,648,000 after buying an additional 41,100 shares during the period. Geode Capital Management LLC increased its position in Conn's by 2.5% in the first quarter. Geode Capital Management LLC now owns 191,076 shares of the specialty retailer’s stock worth $1,671,000 after buying an additional 4,672 shares during the period. Russell Investments Group Ltd. acquired a new stake in Conn's in the second quarter worth $2,202,000. Finally, Acadian Asset Management LLC bought a new position in shares of Conn's in the second quarter worth $4,766,000. Institutional investors and hedge funds own 71.94% of the company’s stock.

Shares of Conn's Inc (NASDAQ CONN) opened at $31.45 on Wednesday. The firm has a market capitalization of $970.54, a P/E ratio of 172.78, a PEG ratio of 2.18 and a beta of 1.86. Conn's Inc has a fifty-two week low of $7.75 and a fifty-two week high of $32.90. The company has a current ratio of 5.80, a quick ratio of 4.70 and a debt-to-equity ratio of 2.02.

Conn's (NASDAQ:CONN) last released its earnings results on Thursday, September 7th. The specialty retailer reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.28. The company had revenue of $366.65 million during the quarter, compared to analysts’ expectations of $371.97 million. Conn's had a positive return on equity of 1.08% and a negative net margin of 0.14%. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period last year, the firm earned ($0.04) EPS. research analysts expect that Conn's Inc will post 0.62 earnings per share for the current fiscal year.

Several research analysts recently weighed in on the company. Zacks Investment Research cut Conn's from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Oppenheimer reaffirmed a “buy” rating on shares of Conn's in a report on Tuesday, October 24th. SunTrust Banks reissued a “buy” rating and issued a $33.00 price objective on shares of Conn's in a research note on Thursday, October 19th. KeyCorp reaffirmed an “overweight” rating and set a $42.00 price target (up from $24.00) on shares of Conn's in a research note on Wednesday, October 18th. Finally, Stifel Nicolaus downgraded Conn's from a “buy” rating to a “hold” rating and raised their price target for the stock from $26.00 to $30.00 in a research note on Monday, October 9th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $33.33.

In other news, major shareholder Harriet C. Stephens purchased 23,000 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was bought at an average cost of $25.50 per share, for a total transaction of $586,500.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Harriet C. Stephens bought 42,000 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were bought at an average cost of $25.40 per share, with a total value of $1,066,800.00. The disclosure for this purchase can be found here. Insiders own 3.48% of the company’s stock.

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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.

Institutional Ownership by Quarter for Conn's (NASDAQ:CONN)

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