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

Conn’s, Inc. (NASDAQ:CONN) saw unusually large options trading on Tuesday. Investors bought 7,076 put options on the company. This is an increase of approximately 1,304% compared to the average daily volume of 504 put options.

Institutional Investors Weigh In On Conn’s

Several hedge funds have recently bought and sold shares of CONN. Equitec Proprietary Markets LLC raised its stake in Conn’s by 180.9% during the first quarter. Equitec Proprietary Markets LLC now owns 12,642 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 8,142 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Conn’s during the first quarter valued at $43,000. Corsair Capital Management L.P. purchased a new position in shares of Conn’s in the 4th quarter worth about $82,000. Quadrature Capital Ltd purchased a new position in shares of Conn’s in the 1st quarter worth about $144,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Conn’s during the 4th quarter valued at about $256,000. Institutional investors own 55.00% of the company’s stock.

Conn’s Stock Performance

Shares of CONN opened at $0.74 on Wednesday. The company has a 50-day simple moving average of $2.99 and a two-hundred day simple moving average of $3.72. The company has a debt-to-equity ratio of 1.93, a current ratio of 2.58 and a quick ratio of 1.87. The firm has a market capitalization of $18.42 million, a PE ratio of -0.23 and a beta of 2.23. Conn’s has a one year low of $0.52 and a one year high of $5.26.

Conn’s (NASDAQ:CONN) last released its earnings results on Thursday, April 11th. The specialty retailer reported ($1.25) EPS for the quarter, beating analysts’ consensus estimates of ($1.57) by $0.32. The company had revenue of $366.08 million during the quarter, compared to analysts’ expectations of $422.40 million. Conn’s had a negative return on equity of 34.68% and a negative net margin of 6.21%. On average, analysts anticipate that Conn’s will post -1.15 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Conn’s from a “sell” rating to a “hold” rating in a research report on Friday, April 12th.

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 in two segments, Retail and Credit. The company's stores offer home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges; and furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as flat and other mattresses.