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

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

Institutional Investors Weigh In On Conn’s

A number of large investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in Conn’s by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 232,619 shares of the specialty retailer’s stock valued at $3,584,000 after buying an additional 3,498 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Conn’s by 32.6% in the 1st quarter. American Century Companies Inc. now owns 69,261 shares of the specialty retailer’s stock valued at $1,067,000 after acquiring an additional 17,016 shares during the last quarter. Citigroup Inc. raised its position in shares of Conn’s by 16.6% during the 1st quarter. Citigroup Inc. now owns 16,330 shares of the specialty retailer’s stock worth $252,000 after acquiring an additional 2,322 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Conn’s by 58.5% during the first quarter. MetLife Investment Management LLC now owns 10,714 shares of the specialty retailer’s stock worth $165,000 after purchasing an additional 3,954 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Conn’s by 14.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,540 shares of the specialty retailer’s stock worth $255,000 after purchasing an additional 2,056 shares during the last quarter. 55.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Conn’s Stock Down 3.0 %

Shares of Conn’s stock opened at $3.85 on Wednesday. The business has a 50-day simple moving average of $3.82 and a 200-day simple moving average of $3.77. The company has a debt-to-equity ratio of 1.93, a current ratio of 2.58 and a quick ratio of 1.87. Conn’s has a one year low of $2.55 and a one year high of $5.39.

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 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.