Short Interest in Conn’s, Inc. (NASDAQ:CONN) Drops By 8.5%

Conn’s, Inc. (NASDAQ:CONN) was the target of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 1,620,000 shares, a decrease of 8.5% from the March 15th total of 1,770,000 shares. Currently, 13.0% of the shares of the company are sold short. Based on an average daily volume of 132,700 shares, the short-interest ratio is presently 12.2 days.

Hedge Funds Weigh In On Conn’s

Hedge funds have recently added to or reduced their stakes in the company. Point72 Middle East FZE purchased a new position in Conn’s in the 4th quarter worth approximately $27,000. Captrust Financial Advisors raised its stake in Conn’s by 53.5% during the 1st quarter. Captrust Financial Advisors now owns 4,856 shares of the specialty retailer’s stock valued at $75,000 after buying an additional 1,693 shares during the last quarter. Quarry LP purchased a new stake in Conn’s during the 1st quarter valued at $36,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Conn’s during the 3rd quarter valued at $56,000. Finally, UBS Group AG raised its stake in Conn’s by 61.9% during the 4th quarter. UBS Group AG now owns 7,957 shares of the specialty retailer’s stock valued at $55,000 after buying an additional 3,042 shares during the last quarter. 55.00% of the stock is currently owned by hedge funds and other institutional investors.

Conn’s Stock Down 3.0 %

Shares of CONN opened at $3.85 on Wednesday. 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 $3.82 and its 200-day moving average price is $3.77. Conn’s has a 52 week low of $2.55 and a 52 week high of $5.39.

Wall Street Analysts Forecast Growth

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

About Conn’s

Conn's, Inc operates as a specialty retailer of durable consumer goods and related services in the United States. It operates through 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.