Conn’s Target of Unusually Large Options Trading (NASDAQ:CONN)

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Conn’s Inc (NASDAQ:CONN) was the target of some unusual options trading on Tuesday. Stock traders purchased 7,081 put options on the stock. This is an increase of approximately 4,684% compared to the typical volume of 148 put options.

Shares of NASDAQ CONN traded down $0.41 during mid-day trading on Wednesday, reaching $19.75. The company’s stock had a trading volume of 10,485 shares, compared to its average volume of 513,927. The company has a market cap of $617.65 million, a price-to-earnings ratio of 7.80, a PEG ratio of 0.30 and a beta of 2.21. The company has a quick ratio of 4.28, a current ratio of 5.41 and a debt-to-equity ratio of 1.90. The firm’s fifty day simple moving average is $18.87. Conn’s has a 52 week low of $15.40 and a 52 week high of $42.65.

Conn’s (NASDAQ:CONN) last released its quarterly earnings data on Friday, May 31st. The specialty retailer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The firm had revenue of $353.50 million during the quarter, compared to analyst estimates of $366.66 million. Conn’s had a return on equity of 14.38% and a net margin of 5.22%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 earnings per share. As a group, equities research analysts anticipate that Conn’s will post 2.74 EPS for the current fiscal year.

In related news, Chairman Norman Miller purchased 11,765 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was acquired at an average price of $17.03 per share, with a total value of $200,357.95. Following the completion of the acquisition, the chairman now owns 388,761 shares of the company’s stock, valued at approximately $6,620,599.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William E. Saunders, Jr. purchased 10,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were bought at an average cost of $17.97 per share, with a total value of $179,700.00. Following the acquisition, the director now directly owns 43,743 shares of the company’s stock, valued at approximately $786,061.71. The disclosure for this purchase can be found here. Insiders have acquired 27,647 shares of company stock valued at $480,228 in the last three months. 3.68% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Invesco Ltd. grew its stake in Conn’s by 41.4% in the second quarter. Invesco Ltd. now owns 218,668 shares of the specialty retailer’s stock worth $3,897,000 after purchasing an additional 64,036 shares in the last quarter. Vanguard Group Inc. grew its stake in Conn’s by 9.6% in the second quarter. Vanguard Group Inc. now owns 2,094,359 shares of the specialty retailer’s stock worth $37,321,000 after purchasing an additional 183,478 shares in the last quarter. BlackRock Inc. boosted its position in Conn’s by 1.7% during the 2nd quarter. BlackRock Inc. now owns 3,428,201 shares of the specialty retailer’s stock valued at $61,091,000 after acquiring an additional 57,289 shares in the last quarter. United Capital Financial Advisers LLC boosted its position in Conn’s by 8.1% during the 2nd quarter. United Capital Financial Advisers LLC now owns 39,735 shares of the specialty retailer’s stock valued at $708,000 after acquiring an additional 2,973 shares in the last quarter. Finally, Meadow Creek Investment Management LLC boosted its position in Conn’s by 229.5% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 5,628 shares of the specialty retailer’s stock valued at $100,000 after acquiring an additional 3,920 shares in the last quarter. Institutional investors own 76.65% of the company’s stock.

A number of equities analysts have recently weighed in on CONN shares. ValuEngine lowered Conn’s from a “sell” rating to a “strong sell” rating in a research note on Monday, June 3rd. TheStreet raised Conn’s from a “c+” rating to a “b-” rating in a research note on Wednesday, April 17th. Zacks Investment Research raised Conn’s from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, BidaskClub raised Conn’s from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Conn’s has a consensus rating of “Buy” and an average price target of $36.00.

Conn’s Company Profile

Conn's, Inc operates as a specialty retailer of durable consumer goods and related services in the United States. It operates through two segments, Retail and Credit. The company's stores offer furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; and home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges.

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