Stock Traders Purchase Large Volume of Conn’s Put Options (NASDAQ:CONN)

Conn’s, Inc. (NASDAQ:CONN) was the target of unusually large options trading activity on Tuesday. Stock traders purchased 7,076 put options on the stock. This is an increase of 1,304% compared to the typical daily volume of 504 put options.

Institutional Investors Weigh In On Conn’s

Several institutional investors have recently bought and sold shares of CONN. AM Investment Strategies LLC raised its holdings in shares of Conn’s by 20.0% during the 4th quarter. AM Investment Strategies LLC now owns 120,125 shares of the specialty retailer’s stock valued at $533,000 after buying an additional 20,000 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Conn’s in the fourth quarter valued at approximately $256,000. Quadrature Capital Ltd purchased a new stake in shares of Conn’s during the first quarter valued at approximately $144,000. Corsair Capital Management L.P. acquired a new position in shares of Conn’s during the fourth quarter worth $82,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Conn’s in the first quarter valued at $43,000. 55.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Conn’s Trading Down 33.8 %

CONN stock traded down $0.35 during trading on Tuesday, reaching $0.69. 2,124,331 shares of the stock traded hands, compared to its average volume of 166,561. The firm has a market capitalization of $17.14 million, a PE ratio of -0.32 and a beta of 2.23. 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 business’s 50 day moving average price is $3.05 and its 200-day moving average price is $3.73. Conn’s has a 52-week low of $0.52 and a 52-week high of $5.26.

Conn’s (NASDAQ:CONN) last issued its earnings results on Thursday, April 11th. The specialty retailer reported ($1.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.57) by $0.32. The business 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%. As a group, sell-side analysts forecast that Conn’s will post -1.15 earnings per share for the current year.

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.