In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Conns Inc (NASDAQ:CONN) reported that Point72 Asset Management has picked up 1,654,859 of common stock as of 2017-06-23.
The acquisition brings the aggregate amount owned by Point72 Asset Management to a total of 1,654,859 representing a 5.3% stake in the company.
For those not familiar with the company, Conn’s, Inc. is a specialty retailer that offers a selection of consumer goods and related services in addition to a credit solution for its core credit constrained consumers. The Company operates through two segments: retail and credit. The Retail segment includes product categories, such as furniture and mattress, including furniture and related accessories for the living room, dining room and bedroom; home appliance, including refrigerators, freezers, washers, dryers, dishwashers and ranges; Consumer electronics, including liquid-crystal-display (LED), organic LED (OLED), Ultra high definition (HD) and Internet-ready televisions, and home office, including computers, printers and accessories. Its credit segment provides short- and medium-term financing for its retail customers. Its credit offering provides financing solutions to credit constrained consumers having limited banking options. The Company operates its business through its retail stores and Website.
A glance at Conns Inc. (NASDAQ:CONN)’s key stats reveals a current market capitalization of $524.15 Million based on $31.01 Million shares outstanding and a price at last close of $17.10 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-06-07, Martin picked up 10,000 at a purchase price of $17.83. This brings their total holding to 38,827 as of the date of the filing.
On the sell side, the most recent transaction saw Renaud unload 1,000 shares at a sale price of $19.00. This brings their total holding to 50,697.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an Conns Inc. (NASDAQ:CONN) as things move forward to see if its progress aligns with these transactions.
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