Conn's Inc (CONN)

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CONN'S major shareholder Buys $613,842 in Stock (CONN)

http://www.wkrb13.com/markets/383801/conns-major-shareholder-buys-613842-in-stock-conn/

Posted by Kristian Gore on Sep 30th, 2014 // No Comments
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CONN'S (NASDAQ:CONN) major shareholder Luxor Capital Group, Lp acquired 21,448 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were purchased at an average cost of $28.62 per share, with a total value of $613,841.76. The purchase was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

A number of research firms have recently commented on CONN. Analysts at Zacks downgraded shares of CONN'S from a “neutral” rating to an “underperform” rating in a research note on Thursday, September 4th. They now have a $28.90 price target on the stock. Separately, analysts at B. Riley cut their price target on shares of CONN'S from $82.00 to $62.00 in a research note on Wednesday, September 3rd. Finally, analysts at Canaccord Genuity cut their price target on shares of CONN'S from $71.00 to $40.00 in a research note on Wednesday, September 3rd. They now have a “buy” rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $42.38.

Shares of CONN'S (NASDAQ:CONN) opened at 30.70 on Tuesday. CONN'S has a 52-week low of $26.60 and a 52-week high of $80.34. The stock’s 50-day moving average is $35.42 and its 200-day moving average is $41.02. The company has a market cap of $1.113 billion and a P/E ratio of 10.84.

CONN'S (NASDAQ:CONN) last announced its earnings results on Tuesday, September 2nd. The company reported $0.50 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.75 by $0.25. The company had revenue of $353.00 million for the quarter. During the same quarter last year, the company posted $0.52 earnings per share. CONN'S’s revenue was up 30.4% compared to the same quarter last year. On average, analysts predict that CONN'S will post $2.88 earnings per share for the current fiscal year.

Conn’s, Inc is a holding company. The Company is a specialty retailer of durable consumer products, and it also provides consumer credit to support its customers’ purchases of the products that it offer.

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