Conn’s, Inc. (NASDAQ:CONN – Get Free Report) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 1,620,000 shares, a drop of 8.5% from the March 15th total of 1,770,000 shares. Based on an average trading volume of 132,700 shares, the short-interest ratio is presently 12.2 days. Currently, 13.0% of the company’s stock are short sold.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised Conn’s from a “sell” rating to a “hold” rating in a research note on Friday.
Read Our Latest Analysis on Conn’s
Conn’s Stock Down 3.0 %
Institutional Investors Weigh In On Conn’s
Several institutional investors and hedge funds have recently modified their holdings of the business. Nantahala Capital Management LLC bought a new position in Conn’s during the fourth quarter valued at about $1,596,000. AQR Capital Management LLC raised its stake in shares of Conn’s by 312.3% in the 4th quarter. AQR Capital Management LLC now owns 358,501 shares of the specialty retailer’s stock valued at $2,466,000 after acquiring an additional 271,555 shares in the last quarter. Millennium Management LLC raised its stake in shares of Conn’s by 524.4% in the 4th quarter. Millennium Management LLC now owns 298,096 shares of the specialty retailer’s stock valued at $2,051,000 after acquiring an additional 250,358 shares in the last quarter. BlackRock Inc. lifted its holdings in Conn’s by 11.6% in the 1st quarter. BlackRock Inc. now owns 2,162,915 shares of the specialty retailer’s stock worth $13,107,000 after purchasing an additional 224,376 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Conn’s by 30.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 903,509 shares of the specialty retailer’s stock worth $4,012,000 after purchasing an additional 212,274 shares during the period. Institutional investors and hedge funds own 55.00% of the company’s stock.
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.
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