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

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

Conn’s Stock Performance

CONN traded down $0.35 during trading on Tuesday, hitting $0.69. The stock had a trading volume of 2,124,331 shares, compared to its average volume of 166,561. The firm has a market cap of $17.14 million, a PE ratio of -0.21 and a beta of 2.23. 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 has a 12 month low of $0.52 and a 12 month high of $5.26. The company has a 50 day simple moving average of $3.05 and a 200-day simple moving average of $3.73.

Conn’s (NASDAQ:CONN) last posted its quarterly earnings data 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. 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%. Analysts expect that Conn’s will post -1.15 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Conn’s

Several hedge funds have recently modified their holdings of the business. 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 worth $42,000 after acquiring an additional 8,142 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in Conn’s in the 1st quarter worth $43,000. Corsair Capital Management L.P. bought a new position in shares of Conn’s during the 4th quarter worth about $82,000. AM Investment Strategies LLC raised its position in shares of 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 buying an additional 20,000 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Conn’s in the first quarter valued at about $144,000. 55.00% of the stock is owned by institutional investors.

About Conn’s

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.