Unless they were a dark pool block sale, they purchased between 42 and 46 dollars per share to accumulate that much..defuinely put a floor on the stock..insiders previously boiought big at 40...
It appears they are acquiring enough shares for a takeover..MS is now involved..at 5% ownership
just filed the 13G
An amazing 84.4 percent of the O/S is owned by Institutions and Mutual funds as reported on CNBC
This does not include all the employees who own shares; long term shareholders and other smaller institutional and mutual fund positions..at the bare minimum, this would be an additional 7% of the O/S
This means at least 90%+++ is owned by strong hands YET 35% OF THE FLOAT IS SHORT!
THIS MEANS THAT SHORTS CAN'T FIND ANY AVAILABLE SHARES TO COVER..EVEN IF THE SHARE PRICE MOVES TO 70, MOST OF THESE FOLKS ARE STILL NOT SELLING
Frankly, I do not know how this situation is going to be resolved....shorts will eventually have to cover but at what price?? There are no shares for them to cover!!
Lets see what the short interest is...was this a short attack or was it actually selling?
My opinion is the company continues to hit on all cylinders (opened 7 units very recently, remodeled and closed others) and the short sellers just spent a ton of money to creat the appearance that there are sellers..you can see it in the multiple trades at very low volume to drop the stock 50 cents at different periods of the day, especially when the stock begins to move
The company performed impressively after the 50% haircut -bringing back down delinquencies and refinancing debt. shorts bet wrong..now they are basically articially controlling the stock with no apparent business case...this is very dangerous strategy..one positve announcement by the company and this could spike into the 60's IMO
Charts I think are meaningless when a stock is this severely undervalued...anything can happen.
They tipped off at the road show they were comping 20% for ths qtr..even if things fell off a cliff, we would still see 10%..and I'm pretty sure things are still chugging along
9x forward earnings? 5x forward EBITDA with 35% earnings growth rate??
very dangerous game they are playing indeed
"We are maintaining a (FY15)
P/EBITDA multiple of about 11x. On a P/E basis, shares are trading at less than 9x
FY15 EPS compared with a 10-year average trough multiple of 10x"
Don't listen to short side bashers..still trying to get out as a small loss instead of big loss
Piper says Aarons and rent a center have nothing to do with CONNS
ame store sales growth (1) 5% to 10%
• New store openings 17 to 20
• Store closures ≈ 10
• Retail gross margin 39.0% to 40.0%
• Credit portfolio interest and fee yield ≈ 18.0%
• Provision for bad debts as % average portfolio balance (2) 8.0% to 10.0%
• SG&A expense as % of total revenues 28.0% to 29.0%
• Adjusted diluted EPS $3.40 to $3.70
• Diluted shares outstanding 37.4 million
Retail offering and affordable credit to subprime borrowers provides unique niche
– Few direct competitors with similar credit offering
– Effective in urban markets with a high concentration of consumers with low disposable
– Most effective in secondary markets that serve a large area from one location
• Conn’s has offered and managed in‐house financing to customers for more than 45 years
• Substantial barriers to entry
– Lower returns than typical non‐bank lenders
– Regulatory and cost obstacles for banks
– Retailers lack experience and capital
Adjusted earnings rose 31.1%, to $0.80 per diluted share from $0.61 per diluted share
• Consolidated revenues increased 33.6% to $335.5 million
• Same store sales increased 15.6%
• Furniture and mattress is now our leading product category in both sales and gross
• Retail gross margin expanded 110 bps to 41.4%
• 60+ day delinquency as a % of customer portfolio balance improved sequentially to 8.0%
Potential for over 500 stores in the United States (currently 80)
• Annual store count growth of 20% to 25%
• Expand furniture and mattress sales to 35% of total product sales
• Full‐year retail gross margin of 40%
• Double appliance business in three years
• Static loss rate of 7% or less
If you placed the same PE as last year on the stock.....with the same growth rate
22.26x 3.70= 82 dollars per share...this thing has sooooo beaten up...I could understand if sales were decling but they are growing like a weed and expanding gross margin too...I think the SEC needs to look at this
shareholders are becoming visibly upset and are complaining to the company
CONNs silent is good ..means everything is fine and bad...how about mid qtr update and blow these guys out of the water