Sothebys (NYSE:BID) Director Dennis M. Weibling Sells 2,600 Shares

Sothebys (NYSE:BID) Director Dennis M. Weibling sold 2,600 shares of Sothebys stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $58.06, for a total value of $150,956.00. Following the completion of the sale, the director now directly owns 25,000 shares in the company, valued at approximately $1,451,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of NYSE BID traded up $0.49 during trading hours on Monday, hitting $58.69. 919,130 shares of the company traded hands, compared to its average volume of 590,828. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 23.67 and a beta of 1.99. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 2.07. The company’s 50 day moving average price is $58.34 and its 200 day moving average price is $45.24. Sothebys has a 12 month low of $32.01 and a 12 month high of $59.94.

Sothebys (NYSE:BID) last released its earnings results on Tuesday, July 30th. The specialty retailer reported $1.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.58 by ($0.11). The company had revenue of $361.78 million for the quarter, compared to the consensus estimate of $336.58 million. Sothebys had a net margin of 10.47% and a return on equity of 28.39%. During the same period in the prior year, the firm posted $1.09 EPS. Equities analysts anticipate that Sothebys will post 2.63 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BID. Millennium Management LLC increased its position in shares of Sothebys by 401.3% during the 4th quarter. Millennium Management LLC now owns 45,480 shares of the specialty retailer’s stock valued at $1,807,000 after purchasing an additional 36,407 shares during the last quarter. Norges Bank purchased a new position in Sothebys during the 4th quarter valued at $24,710,000. Geode Capital Management LLC boosted its holdings in Sothebys by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 372,738 shares of the specialty retailer’s stock valued at $14,812,000 after acquiring an additional 4,493 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Sothebys by 401.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 24,010 shares of the specialty retailer’s stock valued at $906,000 after acquiring an additional 19,219 shares during the period. Finally, Bank of Montreal Can boosted its holdings in Sothebys by 28.2% during the 1st quarter. Bank of Montreal Can now owns 149,370 shares of the specialty retailer’s stock valued at $5,640,000 after acquiring an additional 32,894 shares during the period.

A number of analysts have issued reports on the company. Evercore ISI reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Sothebys in a research note on Thursday, August 8th. ValuEngine raised Sothebys from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. TheStreet downgraded Sothebys from a “b-” rating to a “c” rating in a research note on Wednesday, May 15th. Zacks Investment Research downgraded Sothebys from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Sothebys in a research note on Wednesday, June 19th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $54.80.

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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