Short Interest in Conn’s, Inc. (NASDAQ:CONN) Expands By 17.2%

Conn’s, Inc. (NASDAQ:CONN) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 2,040,000 shares, a growth of 17.2% from the May 31st total of 1,740,000 shares. Approximately 15.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 101,000 shares, the days-to-cover ratio is presently 20.2 days.

Conn’s Price Performance

CONN traded down $0.10 during trading hours on Friday, hitting $1.11. The company’s stock had a trading volume of 624,396 shares, compared to its average volume of 282,863. The business’s 50-day moving average price is $3.10 and its 200-day moving average price is $3.74. Conn’s has a 12 month low of $1.09 and a 12 month high of $5.26. The company has a current ratio of 2.58, a quick ratio of 1.87 and a debt-to-equity ratio of 1.93.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Equitec Proprietary Markets LLC increased its position in Conn’s by 180.9% during the first quarter. Equitec Proprietary Markets LLC now owns 12,642 shares of the specialty retailer’s stock valued at $42,000 after acquiring an additional 8,142 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in Conn’s during the first quarter valued at $43,000. Corsair Capital Management L.P. bought a new position in Conn’s during the fourth quarter valued at $82,000. AM Investment Strategies LLC increased its position in Conn’s by 20.0% during the fourth quarter. AM Investment Strategies LLC now owns 120,125 shares of the specialty retailer’s stock valued at $533,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in Conn’s during the first quarter valued at $144,000. Institutional investors own 55.00% of the company’s stock.

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.