Zeke Capital Advisors LLC Sells 1,360 Shares of Sothebys (NYSE:BID)

Zeke Capital Advisors LLC trimmed its stake in shares of Sothebys (NYSE:BID) by 21.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 4,925 shares of the specialty retailer’s stock after selling 1,360 shares during the quarter. Zeke Capital Advisors LLC’s holdings in Sothebys were worth $286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund grew its position in Sothebys by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 13,350 shares of the specialty retailer’s stock worth $776,000 after acquiring an additional 188 shares during the last quarter. Retirement Systems of Alabama grew its position in Sothebys by 0.5% during the 2nd quarter. Retirement Systems of Alabama now owns 43,046 shares of the specialty retailer’s stock worth $2,502,000 after acquiring an additional 210 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Sothebys by 34.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,048 shares of the specialty retailer’s stock worth $40,000 after acquiring an additional 271 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Sothebys by 3.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 20,779 shares of the specialty retailer’s stock worth $826,000 after acquiring an additional 736 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Sothebys by 339.6% during the 1st quarter. Quadrant Capital Group LLC now owns 1,609 shares of the specialty retailer’s stock worth $59,000 after acquiring an additional 1,243 shares during the last quarter.

NYSE BID traded up $0.79 on Wednesday, hitting $58.73. The company’s stock had a trading volume of 14,268 shares, compared to its average volume of 337,308. Sothebys has a 52-week low of $32.01 and a 52-week high of $59.94. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.01 and a current ratio of 1.04. The firm’s 50-day simple moving average is $58.17. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 23.73 and a beta of 1.99.

Sothebys (NYSE:BID) last released its quarterly earnings data on Tuesday, July 30th. The specialty retailer reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.11). Sothebys had a return on equity of 28.39% and a net margin of 10.47%. The business had revenue of $361.78 million during the quarter, compared to analysts’ expectations of $336.58 million. During the same quarter last year, the business posted $1.09 EPS. As a group, sell-side analysts anticipate that Sothebys will post 2.63 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on BID shares. ValuEngine upgraded Sothebys from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. TheStreet cut Sothebys from a “b-” rating to a “c” rating in a report on Wednesday, May 15th. Berenberg Bank reiterated a “hold” rating and issued a $57.00 price objective on shares of Sothebys in a report on Wednesday, June 19th. Finally, Zacks Investment Research cut Sothebys from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Sothebys currently has a consensus rating of “Hold” and an average price target of $54.25.

About Sothebys

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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