Conn’s Sees Unusually High Options Volume (NASDAQ:CONN)

Conn’s, Inc. (NASDAQ:CONN) was the target of some unusual options trading on Tuesday. Stock investors acquired 7,076 put options on the company. This is an increase of 1,304% compared to the average volume of 504 put options.

Conn’s Stock Performance

Shares of Conn’s stock traded down $0.35 during trading on Tuesday, reaching $0.69. The company’s stock had a trading volume of 2,124,331 shares, compared to its average volume of 166,561. Conn’s has a one year low of $0.52 and a one year high of $5.26. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.87 and a current ratio of 2.58. The firm has a market cap of $17.14 million, a price-to-earnings ratio of -0.32 and a beta of 2.23. The business’s fifty day moving average price is $3.05 and its 200-day moving average price is $3.73.

Conn’s (NASDAQ:CONN) last posted its quarterly earnings results on Thursday, April 11th. The specialty retailer reported ($1.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.57) by $0.32. The firm had revenue of $366.08 million during the quarter, compared to analyst estimates of $422.40 million. Conn’s had a negative net margin of 6.21% and a negative return on equity of 34.68%. As a group, equities research analysts predict that Conn’s will post -1.15 earnings per share for the current year.

Institutional Trading of Conn’s

A number of large investors have recently bought and sold shares of the stock. Equitec Proprietary Markets LLC boosted its stake in shares of Conn’s by 180.9% in the 1st quarter. Equitec Proprietary Markets LLC now owns 12,642 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 8,142 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of Conn’s during the 1st quarter worth about $43,000. Corsair Capital Management L.P. bought a new position in Conn’s during the 4th quarter valued at about $82,000. Quadrature Capital Ltd acquired a new position in Conn’s in the first quarter valued at about $144,000. Finally, Assenagon Asset Management S.A. bought a new stake in Conn’s during the fourth quarter worth about $256,000. 55.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.