Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

CONN’S, Inc. (CONN): A Soaring Stock and Two Other Specialty Retailers Billionaires Love

Page 1 of 2

Ken Griffin’s Citadel Investment Group recently increased its stake in CONN’S, Inc. (NASDAQ:CONN) by 1.74 million shares. As revealed in a 13G Form filed with the U.S. Securities and Exchange Commission, the fund now owns 1.79 million shares, representing 4.9% of the company’s outstanding stock. Over the past few days, Kevin Michael Ulrich and Anthony DavisAnchorage Advisors acquired 304,900 shares at an average price of $27.89 per share and then sold 622,500 shares at an average price of $25.74 per share. Following these insider transactions, the investment firm’s position in CONN’s amounts to 3.62 million shares.CITADEL INVESTMENT GROUP

CONN’S, Inc. (NASDAQ:CONN)’s share price has been soaring over the past month and has gained around 43.7% year-to-date. In 2014, the stock had plummeted 75.9%, taking a big hit during the fourth quarter due to weak earnings results. Although at the end of the year the company’s situation looked grim and investors were unloading shares, the trend was reversed thanks to the strong sales results registered in January. Total retail sales during that month gained 16.8% year over year to $93.6 million and 16.2%, to $350.5 million, for the fourth quarter of fiscal 2015.

The higher sales figures, which include a 4.9% increase in same-store sales during January, stem primarily from the company’s furniture and appliances division. Furthermore, the 60-plus day delinquency rate for the firm’s credit portfolio remained stable at 9.7% and was cited by numerous analysts as one of the reasons the stock has been upgraded. The encouraging data put forward by CONN’S, Inc. (NASDAQ:CONN) certainly had an effect on its share price, as investors are once again willing to take the risk of betting on the volatile stock. Christiane Leone’s Luxor Capital Group ranks as the company’s largest shareholder among institutional investors, with a position of 7.59 million shares, valued at $141.79 million, which accounted for 2.86% of its equity portfolio at the end of 2014.

Although CONN’S, Inc. (NASDAQ:CONN) seems to be turning things around, the company’s financial results are still rather weak compared to those reported last year. Hence, investors might be better off considering other specialty retailers, especially those enjoying a high level of popularity among billionaires. In the rest of this article we will take a closer look at Best Buy Co Inc (NYSE:BBY) and Vipshop Holdings Ltd – ADR (NYSE:VIPS), which are two specialty retailers that had several billionaires holding long positions at the end of 2014.

A total of eight billionaires are bullish on Best Buy Co Inc (NYSE:BBY), holding $319 million worth of stock in aggregate. The largest shareholder among this reduced group of institutional shareholders was Cliff Asness’ AQR Capital Management, which held 3.25 million shares valued at $126.57 million last quarter. Other billionaires betting on the stock include Phillip Gross and Robert Atchinson, Ken Griffin, and Rob Citrone, all of which own more than 1.0 million shares of the company’s outstanding stock.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!