Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Sothebys from a hold rating to a strong sell rating in a research note on Monday, November 21st. Cowen and Company raised shares of Sothebys from a market perform rating to an outperform rating and raised their price target for the stock from $38.00 to $45.00 in a research note on Friday, December 16th. Finally, Sidoti initiated coverage on shares of Sothebys in a research note on Thursday, December 29th. They set a buy rating for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Sothebys currently has a consensus rating of Hold and a consensus target price of $51.67.
Shares of Sothebys (NYSE:BID) opened at 47.33 on Thursday. Sothebys has a 52 week low of $24.20 and a 52 week high of $49.87. The stock has a 50 day moving average of $43.25 and a 200-day moving average of $39.56. The firm has a market capitalization of $2.51 billion, a PE ratio of 37.27 and a beta of 1.96.
Sothebys (NYSE:BID) last announced its earnings results on Monday, February 27th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.17 by $0.18. The firm had revenue of $308.69 million for the quarter, compared to the consensus estimate of $277.28 million. Sothebys had a negative net margin of 0.31% and a positive return on equity of 16.53%. The business’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period last year, the company posted $1.19 EPS. Equities analysts anticipate that Sothebys will post $1.94 earnings per share for the current fiscal year.
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In other news, COO Adam Chinn bought 2,425 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The stock was acquired at an average cost of $46.60 per share, with a total value of $113,005.00. Following the completion of the purchase, the chief operating officer now owns 67,425 shares of the company’s stock, valued at $3,142,005. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin M. Delaney sold 1,806 shares of the firm’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $48.04, for a total transaction of $86,760.24. Following the completion of the transaction, the senior vice president now directly owns 1,212 shares of the company’s stock, valued at $58,224.48. The disclosure for this sale can be found here. 11.98% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in BID. Norges Bank purchased a new position in Sothebys during the fourth quarter valued at $28,745,000. Thrivent Financial for Lutherans boosted its position in Sothebys by 3.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,860 shares of the company’s stock valued at $313,000 after buying an additional 290 shares in the last quarter. Worth Venture Partners LLC purchased a new position in Sothebys during the fourth quarter valued at $236,000. Guggenheim Capital LLC boosted its position in Sothebys by 775.6% in the fourth quarter. Guggenheim Capital LLC now owns 112,655 shares of the company’s stock valued at $4,490,000 after buying an additional 99,789 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in Sothebys during the fourth quarter valued at $2,172,000. 88.23% of the stock is owned by institutional investors and hedge funds.
Sothebys Company Profile
Sotheby’s is a global art business company. The Company operates in two segments: Agency and Finance. The Agency segment earns commissions by matching buyers and sellers of authenticated fine art, decorative art, jewelry, wine and collectibles (collectively, art or works of art or artwork or property) through the auction or private sale process.
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