Dimensional Fund Advisors LP increased its position in Sotheby’s (NYSE:BID) by 8.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,671,743 shares of the company’s stock after buying an additional 125,275 shares during the period. Dimensional Fund Advisors LP owned about 2.85% of Sotheby’s worth $45,806,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. boosted its position in shares of Sotheby’s by 19.9% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,008,044 shares of the company’s stock worth $27,620,000 after buying an additional 167,404 shares during the period. Paradice Investment Management LLC boosted its position in shares of Sotheby’s by 16.5% in the second quarter. Paradice Investment Management LLC now owns 752,584 shares of the company’s stock worth $20,621,000 after buying an additional 106,569 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Sotheby’s by 330.2% in the first quarter. Canada Pension Plan Investment Board now owns 376,140 shares of the company’s stock worth $10,054,000 after buying an additional 288,700 shares during the period. Conestoga Capital Advisors LLC bought a new position in shares of Sotheby’s during the second quarter worth approximately $10,036,000. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Sotheby’s by 4.9% in the first quarter. TIAA CREF Investment Management LLC now owns 239,568 shares of the company’s stock worth $6,404,000 after buying an additional 11,218 shares during the period. 95.80% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sotheby’s (NYSE:BID) traded down 2.77% during midday trading on Thursday, reaching $35.07. The company had a trading volume of 53,708 shares. The firm’s 50 day moving average price is $38.18 and its 200-day moving average price is $31.96. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 67.70 and a beta of 2.15. Sotheby’s has a 1-year low of $18.86 and a 1-year high of $41.23.
Sotheby’s (NYSE:BID) last announced its quarterly earnings results on Monday, August 8th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.46. Sotheby’s had a return on equity of 18.52% and a net margin of 3.87%. The company earned $298.67 million during the quarter, compared to analyst estimates of $291.22 million. During the same period in the prior year, the company earned $1.04 earnings per share. The firm’s revenue was down 10.0% on a year-over-year basis. Equities research analysts expect that Sotheby’s will post $2.12 EPS for the current fiscal year.
BID has been the topic of a number of analyst reports. Zacks Investment Research raised Sotheby’s from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Cowen and Company set a $38.00 target price on Sotheby’s and gave the company a “hold” rating in a research note on Monday, September 19th. Finally, TheStreet raised Sotheby’s from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Six equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $32.20.
Sotheby’s Company Profile
Sotheby’s is a global art business company. The Company operates in two segments: Agency and Finance. The Agency segment earns commissions by matching buyers and sellers of authenticated fine art, decorative art, jewelry, wine and collectibles (collectively, art or works of art or artwork or property) through the auction or private sale process.
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