Putnam Investments LLC acquired a new stake in shares of Conn's Inc (NASDAQ:CONN) during the fourth quarter, Holdings Channel reports. The fund acquired 41,210 shares of the company’s stock, valued at approximately $521,000. Putnam Investments LLC owned about 0.13% of Conn's at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake in Conn's by 14.8% in the third quarter. Morgan Stanley now owns 2,403,669 shares of the company’s stock valued at $24,806,000 after buying an additional 310,670 shares during the last quarter. Pacific Global Investment Management CO boosted its stake in shares of Conn's by 9.1% in the fourth quarter. Pacific Global Investment Management CO now owns 770,055 shares of the company’s stock valued at $9,741,000 after buying an additional 64,210 shares in the last quarter. Stephens Inc. AR boosted its stake in shares of Conn's by 270.8% in the third quarter. Stephens Inc. AR now owns 203,786 shares of the company’s stock valued at $2,103,000 after buying an additional 148,830 shares in the last quarter. Royce & Associates LP acquired a new stake in shares of Conn's during the fourth quarter valued at $2,523,000. Finally, California Public Employees Retirement System boosted its stake in shares of Conn's by 46.0% in the third quarter. California Public Employees Retirement System now owns 122,600 shares of the company’s stock valued at $1,265,000 after buying an additional 38,600 shares in the last quarter. Hedge funds and other institutional investors own 59.77% of the company’s stock.
Shares of Conn's Inc (NASDAQ:CONN) opened at 8.30 on Friday. The company has a 50-day moving average of $9.22 and a 200 day moving average of $10.52. The company’s market cap is $256.13 million. Conn's Inc has a 12 month low of $6.54 and a 12 month high of $16.28.
Separately, Zacks Investment Research cut shares of Conn's from a “hold” rating to a “sell” rating in a research report on Thursday, February 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $19.00.
Conn's Company Profile
Conn’s, Inc 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 Company operates through two segments: retail and credit. The Retail segment includes product categories, such as furniture and mattress, including furniture and related accessories for the living room, dining room and bedroom; home appliance, including refrigerators, freezers, washers, dryers, dishwashers and ranges; Consumer electronics, including liquid-crystal-display (LED), organic LED (OLED), Ultra high definition (HD) and Internet-ready televisions, and home office, including computers, printers and accessories.
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