Anchorage Capital Group L.l.c. buys $31,513,389 stake in CONN'S (CONN)

CONN'S (CONN) : Anchorage Capital Group L.l.c. scooped up 933,301 additional shares in CONN'S during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 4,553,958 shares of CONN'S which is valued at $31,513,389.CONN'S makes up approximately 3.48% of Anchorage Capital Group L.l.c.’s portfolio.

Other Hedge Funds, Including , Luxor Capital Group Lp reduced its stake in CONN by selling 2,000,000 shares or 30.16% in the most recent quarter. The Hedge Fund company now holds 4,630,801 shares of CONN which is valued at $32,045,143. CONN'S makes up approx 1.89% of Luxor Capital Group Lp’s portfolio. Nuveen Fund Advisors sold out all of its stake in CONN during the most recent quarter. The investment firm sold 30,000 shares of CONN which is valued $207,600.Blackrock Investment Management boosted its stake in CONN in the latest quarter, The investment management firm added 5,183 additional shares and now holds a total of 95,910 shares of CONN'S which is valued at $663,697. Quantbot Technologies Lp sold out all of its stake in CONN during the most recent quarter. The investment firm sold 1,972 shares of CONN which is valued $13,863.

CONN'S closed down -0.14 points or -2.06% at $6.65 with 4,16,452 shares getting traded on Thursday. Post opening the session at $6.81, the shares hit an intraday low of $6.58 and an intraday high of $6.81 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, CONN'S reported $-0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.43 based on the information available during the earnings call on Jun 2, 2016. Analyst had a consensus of $0.12. The company had revenue of $389.11 million for the quarter, compared to analysts expectations of $392.40 million. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

Many Wall Street Analysts have commented on CONN'S. CONN'S was Downgraded by Piper Jaffray to ” Neutral” on Jun 3, 2016.

Conn’s Inc. is a retailer that offers a selection of durable consumer goods and related services in addition to a credit solution for its primary credit constrained consumers. The Company operates business through its retail stores and Website. The Company operates through two segments: retail and credit. Its product offerings include furniture and mattresses home appliances consumer electronics and home office products. The Company’s retail stores bear the Conn’s or Conn’s HomePlus name and deliver the same products and services to a common customer group. Its credit offering provides financing solutions to a population of credit constrained consumers who typically have limited banking options and have credit scores between 550 and 650.

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