Bank of Montreal Can grew its position in shares of Sothebys (NYSE:BID) by 56.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,269 shares of the specialty retailer’s stock after purchasing an additional 16,391 shares during the period. Bank of Montreal Can owned approximately 0.09% of Sothebys worth $2,227,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UBS Group AG lifted its holdings in shares of Sothebys by 50.1% during the 1st quarter. UBS Group AG now owns 2,878 shares of the specialty retailer’s stock worth $147,000 after acquiring an additional 961 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Sothebys during the 2nd quarter worth $176,000. North Star Investment Management Corp. bought a new stake in shares of Sothebys during the 2nd quarter worth $268,000. Raymond James & Associates bought a new stake in shares of Sothebys during the 2nd quarter worth $268,000. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Sothebys during the 1st quarter worth $315,000.
NYSE BID opened at $41.27 on Friday. Sothebys has a 52-week low of $38.82 and a 52-week high of $60.16. The company has a quick ratio of 1.17, a current ratio of 1.24 and a debt-to-equity ratio of 1.89. The firm has a market cap of $2.06 billion, a PE ratio of 18.34 and a beta of 1.70.
Sothebys (NYSE:BID) last posted its quarterly earnings results on Thursday, November 1st. The specialty retailer reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.16. The business had revenue of $119.20 million during the quarter, compared to the consensus estimate of $130.70 million. Sothebys had a net margin of 10.21% and a return on equity of 21.41%. The firm’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.45) earnings per share. On average, equities analysts expect that Sothebys will post 2.27 EPS for the current year.
BID has been the subject of a number of research analyst reports. ValuEngine raised shares of Sothebys from a “hold” rating to a “buy” rating in a report on Friday, September 7th. TheStreet downgraded shares of Sothebys from a “b” rating to a “c” rating in a report on Monday. Finally, Zacks Investment Research downgraded shares of Sothebys from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $65.00.
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Sotheby's operates as an auctioneer of authenticated fine art, decorative art, jewelry, wine, and collectibles in the United States, the United Kingdom, Hong Kong, China, Switzerland, France, and internationally. The company operates in two segments, Agency and Finance. The Agency segment accepts property on consignment; and matches sellers to buyers through the auction or private sale process.
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