Deutsche Bank AG Raises Stake in Sothebys (BID)

Deutsche Bank AG increased its stake in shares of Sothebys (NYSE:BID) by 172.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 288,471 shares of the specialty retailer’s stock after acquiring an additional 182,780 shares during the period. Deutsche Bank AG owned about 0.62% of Sothebys worth $11,462,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in Sothebys during the third quarter worth approximately $152,000. Dupont Capital Management Corp acquired a new stake in Sothebys during the fourth quarter worth approximately $164,000. Amalgamated Bank acquired a new stake in Sothebys during the fourth quarter worth approximately $224,000. Riverhead Capital Management LLC grew its position in Sothebys by 26.6% during the third quarter. Riverhead Capital Management LLC now owns 6,187 shares of the specialty retailer’s stock worth $304,000 after buying an additional 1,300 shares in the last quarter. Finally, BB&T Corp grew its position in Sothebys by 9.2% during the fourth quarter. BB&T Corp now owns 6,205 shares of the specialty retailer’s stock worth $247,000 after buying an additional 525 shares in the last quarter.

In other news, SVP Kevin M. Delaney sold 2,921 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $40.54, for a total value of $118,417.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.03% of the stock is currently owned by corporate insiders.

Several equities research analysts have weighed in on the company. Zacks Investment Research cut Sothebys from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Cowen cut Sothebys from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $50.00 to $44.00 in a research note on Thursday, January 24th. Susquehanna Bancshares restated a “hold” rating on shares of Sothebys in a research note on Thursday, February 28th. TheStreet upgraded Sothebys from a “c” rating to a “b-” rating in a research note on Wednesday, March 20th. Finally, Berenberg Bank restated a “hold” rating and set a $39.00 target price on shares of Sothebys in a research note on Monday, March 4th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $44.25.

NYSE BID traded down $0.02 on Thursday, hitting $39.44. 263,288 shares of the company’s stock were exchanged, compared to its average volume of 465,730. Sothebys has a 52 week low of $35.62 and a 52 week high of $60.16. The stock has a market capitalization of $1.89 billion, a PE ratio of 15.90 and a beta of 1.32. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.16 and a quick ratio of 1.11.

Sothebys (NYSE:BID) last announced its quarterly earnings results on Thursday, May 2nd. The specialty retailer reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.09. Sothebys had a return on equity of 24.25% and a net margin of 10.66%. The company had revenue of $173.50 million during the quarter, compared to analysts’ expectations of $173.62 million. During the same period in the prior year, the company earned $0.09 EPS. Sothebys’s revenue was down 11.4% compared to the same quarter last year. As a group, sell-side analysts expect that Sothebys will post 2.45 earnings per share for the current year.

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Sothebys Company Profile

Sotheby's operates as an auctioneer of authenticated fine art, decorative art, jewelry, wine, and collectibles in the United States, the United Kingdom, Hong Kong, China, Switzerland, France, and internationally. The company operates in two segments, Agency and Finance. The Agency segment accepts property on consignment; and matches sellers to buyers through the auction or private sale process.

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Institutional Ownership by Quarter for Sothebys (NYSE:BID)

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