Sothebys (BID) Shares are Up 23.58%

Sothebys (BID) : Traders are bullish on Sothebys (BID) as it has outperformed the S&P 500 by a wide margin of 40.71% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 23.51%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 23.58% in the last 1 week, and is up 42.16% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 21.92% and the 50-Day Moving Average is 31.61%. Sothebys (NYSE:BID): On Fridays trading session , Opening price of the stock was $39.71 with an intraday high of $39.91. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $39.08. However, the stock managed to close at $39.89, a loss of 0.27% for the day. On the previous day, the stock had closed at $40. The total traded volume of the day was 1,521,729 shares.


The company Insiders own 11.98% of Sothebys shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 22.14% . Institutional Investors own 96.32% of Sothebys shares. During last six month period, the net percent change held by insiders has seen a change of 21.43%.

Sothebys is a global art business company. The Company operates in three segments: Agency, Principal and Finance. The Companys Agency segment accepts property on consignment, stimulates buyer interest through professional marketing techniques, and matches sellers (also known as consignors) to buyers through the auction or private sale process. The Companys Principal segment is engaged in the sale of artworks that have been purchased by Sothebys, including property acquired for sale at auction in the near term in lieu of the Agency segment providing an auction guarantee to a potential consignor. The Companys Finance segment provides certain collectors and art dealers with financing secured by works of art that Sothebys either has in its possession or permits borrowers to possess.

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