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

Conn’s, Inc. (NASDAQ:CONN) was the recipient of some unusual options trading activity on Tuesday. Investors acquired 7,076 put options on the company. This is an increase of 1,304% compared to the typical volume of 504 put options.

Institutional Investors Weigh In On Conn’s

Large investors have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new position in Conn’s during the 1st quarter worth $144,000. State Board of Administration of Florida Retirement System acquired a new stake in Conn’s in the first quarter valued at about $43,000. Equitec Proprietary Markets LLC boosted its holdings in Conn’s by 180.9% in the 1st quarter. Equitec Proprietary Markets LLC now owns 12,642 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 8,142 shares in the last quarter. Corsair Capital Management L.P. purchased a new stake in Conn’s in the 4th quarter valued at approximately $82,000. Finally, AM Investment Strategies LLC increased its position in Conn’s by 20.0% during the 4th quarter. AM Investment Strategies LLC now owns 120,125 shares of the specialty retailer’s stock worth $533,000 after purchasing an additional 20,000 shares during the period. Hedge funds and other institutional investors own 55.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Conn’s Price Performance

Shares of NASDAQ:CONN opened at $0.74 on Wednesday. Conn’s has a one year low of $0.52 and a one year high of $5.26. The stock has a market capitalization of $18.42 million, a price-to-earnings ratio of -0.23 and a beta of 2.23. The company has a 50-day simple moving average of $2.99 and a 200-day simple moving average of $3.72. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.87 and a current ratio of 2.58.

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

About Conn’s

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.