Today’s Stock On Watch: Will Conn’s Inc Short Squeeze Soon?

Today's Stock On Watch: Will Conn's Inc Short Squeeze Soon?

The stock of Conn’s Inc (NASDAQ:CONN) is a huge mover today! About 515,933 shares traded hands. Conn’s Inc (NASDAQ:CONN) has declined 41.25% since March 8, 2016 and is downtrending. It has underperformed by 50.57% the S&P500.
The move comes after 6 months negative chart setup for the $320.36M company. It was reported on Oct, 11 by Barchart.com. We have $8.82 PT which if reached, will make NASDAQ:CONN worth $38.44 million less.

Conn’s Inc (NASDAQ:CONN) Ratings Coverage

Out of 3 analysts covering CONN’S (NASDAQ:CONN), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. CONN’S has been the topic of 8 analyst reports since August 17, 2015 according to StockzIntelligence Inc. As per Friday, June 3, the company rating was downgraded by Piper Jaffray. Stephens upgraded Conn’s Inc (NASDAQ:CONN) on Tuesday, March 15 to “Overweight” rating. The firm has “Buy” rating by Stifel Nicolaus given on Tuesday, December 1. The firm has “Buy” rating by Stifel Nicolaus given on Wednesday, December 9. The firm earned “Hold” rating on Wednesday, January 13 by Stifel Nicolaus. The rating was maintained by Piper Jaffray on Monday, August 17 with “Buy”. The firm has “Hold” rating by Stifel Nicolaus given on Tuesday, September 15. Stifel Nicolaus upgraded Conn’s Inc (NASDAQ:CONN) rating on Wednesday, September 21. Stifel Nicolaus has “Buy” rating and $16 price target.

According to Zacks Investment Research, “Conns Inc is a specialty retailer currently operating retail locations in Texas and Louisiana. It sells major home appliances, including refrigerators, freezers, washers, dryers and ranges, and a variety of consumer electronics, including projection, plasma and LCD televisions, camcorders, VCRs, DVD players and home theater products. They also sell home office equipment, lawn and garden products and bedding, and continue to introduce additional product categories for the home to help increase same store sales and to respond to their customers’ product needs.”

Insitutional Activity: The institutional sentiment decreased to 0.48 in Q2 2016. Its down 0.76, from 1.24 in 2016Q1. The ratio dropped, as 18 funds sold all Conn’s Inc shares owned while 40 reduced positions. 6 funds bought stakes while 22 increased positions. They now own 19.25 million shares or 18.72% less from 23.68 million shares in 2016Q1.
State Board Of Administration Of Florida Retirement Sys holds 0% of its portfolio in Conn’s Inc (NASDAQ:CONN) for 22,094 shares. Wells Fargo And Comm Mn accumulated 0% or 12,065 shares. Barclays Public Ltd Company holds 0% of its portfolio in Conn’s Inc (NASDAQ:CONN) for 2,096 shares. Commerzbank Aktiengesellschaft Fi holds 37,720 shares or 0% of its portfolio. The Minnesota-based Blue Clay Ltd Liability Corporation has invested 0.13% in Conn’s Inc (NASDAQ:CONN). Mizuho Secs Usa accumulated 45,800 shares or 0.05% of the stock. Alliancebernstein Lp accumulated 0% or 52,530 shares. Ubs Asset Management Americas holds 10,900 shares or 0% of its portfolio. State Street Corp holds 0% or 424,655 shares in its portfolio. Tiaa Cref Inv Mngmt Ltd Limited Liability Company owns 29,251 shares or 0% of their US portfolio. Great West Life Assurance Can holds 0% or 2,400 shares in its portfolio. Creative Planning owns 9,751 shares or 0% of their US portfolio. Art Limited Liability Corp holds 0.01% of its portfolio in Conn’s Inc (NASDAQ:CONN) for 20,284 shares. Natixis holds 0% or 16,000 shares in its portfolio. Teacher Retirement Of Texas accumulated 2,555 shares or 0% of the stock.

Insider Transactions: Since June 2, 2016, the stock had 5 buys, and 1 insider sale for $7.17 million net activity. On Friday, September 9 STEPHENS HARRIET C bought $199,999 worth of the stock or 22,619 shares. On Thursday, June 2 Luxor Capital Group – LP sold $9.46M worth of the stock or 1.07 million shares. $7.10M worth of Conn’s Inc (NASDAQ:CONN) shares were bought by STEPHENS WARREN A. 285,000 Conn’s Inc (NASDAQ:CONN) shares with value of $2.02 million were bought by WARREN A STEPHENS GRANTORS TRUST.

More news for Conn’s Inc (NASDAQ:CONN) were recently published by: Businesswire.com, which released: “Conn’s, Inc. Announces Closing of $700 Million Securitization Transaction” on October 07, 2016. Businesswire.com‘s article titled: “Conn’s, Inc. Announces Pricing of New $700 Million Securitization Transaction” and published on September 29, 2016 is yet another important article.

CONN Company Profile

Conn’s, Inc. (Conn’s), incorporated on January 15, 2003, is a specialty retailer that offers a selection of consumer goods and related services in addition to a credit solution for its core credit constrained consumers. The Firm operates through two divisions: retail and credit. The Company’s product offerings include furniture and mattresses, home appliances, consumer electronics and home office products. The Company’s credit offering provides financing solutions to credit constrained clients having limited banking options. It operates in approximately nine regional distribution centers located in Houston, San Antonio, Dallas, Beaumont, El Paso and McAllen, Texas; Phoenix, Arizona; Denver, Colorado and Charlotte, North Carolina; over 10 smaller cross-dock facilities, and approximately 20 stores with cross-dock facilities. The Firm operates its business through its retail stores and Website.

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