Breaking Short Interest: Sothebys (NYSE:BID) Shorted Shares Decreased By 2.96%

November 25, 2016 - By Marguerite Chambers   ·   0 Comments

Breaking Short Interest: Sothebys (NYSE:BID) Shorted Shares Decreased By 2.96%

The stock of Sothebys (NYSE:BID) registered a decrease of 2.96% in short interest. BID’s total short interest was 9.36M shares in November as published by FINRA. Its down 2.96% from 9.65M shares, reported previously. With 343,000 shares average volume, it will take short sellers 27 days to cover their BID’s short positions. The short interest to Sothebys’s float is 19.71%. The stock decreased 1.26% or $0.5 during the last trading session, hitting $39.07. About 202,313 shares traded hands. Sothebys (NYSE:BID) has risen 40.82% since April 22, 2016 and is uptrending. It has outperformed by 35.41% the S&P500.

Sotheby’s is a global art business company. The company has a market cap of $2.10 billion. The Firm operates in two divisions: Agency and Finance. It currently has negative earnings. The Agency segment earns commissions by matching buyers and sellers of authenticated fine art, decorative art, jewelry, wine and collectibles through the auction or private sale process.

Insitutional Activity: The institutional sentiment increased to 0.59 in 2016 Q2. Its up 0.02, from 0.57 in 2016Q1. The ratio increased, as 37 funds sold all Sothebys shares owned while 78 reduced positions. 27 funds bought stakes while 38 increased positions. They now own 55.16 million shares or 4.11% less from 57.52 million shares in 2016Q1.
Blackrock Invest Llc last reported 333,955 shares in the company. Bnp Paribas Arbitrage has invested 0.01% of its portfolio in Sothebys (NYSE:BID). Blackrock Inc has invested 0% of its portfolio in Sothebys (NYSE:BID). Metropolitan Life Ins, a New York-based fund reported 86,421 shares. Citigroup has invested 0% of its portfolio in Sothebys (NYSE:BID). Ariel Investments Limited Liability has invested 0.42% of its portfolio in Sothebys (NYSE:BID). Of Vermont last reported 100 shares in the company. Mycio Wealth Ltd Liability Company accumulated 0% or 150 shares. Moreover, Vulcan Value Prns Ltd Limited Liability Company has 0.59% invested in Sothebys (NYSE:BID) for 2.19 million shares. Fmr Ltd Liability Corp holds 0% of its portfolio in Sothebys (NYSE:BID) for 65,000 shares. Landscape Capital Mgmt Ltd Liability Corp reported 42,020 shares or 0.15% of all its holdings. Goldman Sachs Gru Inc holds 621,229 shares or 0.01% of its portfolio. Wolverine Asset Mgmt Limited Liability accumulated 0% or 6,150 shares. 13D Management Ltd Liability holds 133,984 shares or 1.51% of its portfolio. First Tru Advsrs Ltd Partnership owns 9,444 shares or 0% of their US portfolio.

Insider Transactions: Since June 1, 2016, the stock had 3 insider purchases, and 1 insider sale for $1.07 million net activity. The insider DELANEY KEVIN M sold $18,601. Wilson Harry James had bought 5,000 shares worth $151,421 on Wednesday, June 1. 6,620 shares with value of $200,536 were bought by DE SOLE DOMENICO on Thursday, June 2. On Wednesday, November 9 the insider Taikang Insurance Group – Inc. bought $738,190.

Sothebys (NYSE:BID) Ratings Coverage

Out of 8 analysts covering Sotheby’s (NYSE:BID), 1 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 13% are positive. Sotheby’s has been the topic of 12 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The rating was downgraded by Sitfel on Thursday, February 11 to “Hold”. The stock of Sothebys (NYSE:BID) has “Buy” rating given on Friday, December 18 by Stifel Nicolaus. The firm has “Mkt Perform” rating by Barrington Research given on Friday, February 26. Stifel Nicolaus maintained it with “Buy” rating and $38 target price in Tuesday, November 10 report. As per Thursday, February 11, the company rating was downgraded by Stifel Nicolaus. The rating was maintained by Williams Capital Group with “Buy” on Thursday, September 3. Standpoint Research initiated Sothebys (NYSE:BID) on Wednesday, January 20 with “Buy” rating. The rating was downgraded by TheStreet to “Hold” on Tuesday, July 28. As per Thursday, April 14, the company rating was downgraded by Standpoint Research.

BID Company Profile

Sotheby’s, incorporated on March 30, 2006, is a global art business company. The Firm operates in two divisions: 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. The Company’s Agency segment activities also include the sale of artworks that are principally acquired incidental to the auction process and the activities of RM Sotheby’s. The Finance segment earns interest income through art-related financing activities by making loans that are secured by works of art. Activities, including Sotheby’s retail wine operations, Acquavella Modern Art (AMA), an equity investee, and sales of the remaining inventory of Noortman Master Paintings, an art dealer that was owned and operated by Sotheby’s are reported within all other segment. All other segment also includes Sotheby’s brand licensing activities and other ancillary businesses.

More notable recent Sothebys (NYSE:BID) news were published by: Nytimes.com which released: “Sotheby’s, Christie’s and Phillips Take Different Paths to ‘Sold!'” on November 23, 2016, also Nytimes.com with their article: “Arts|Strong Sales at Sotheby’s Contemporary Auction Despite Postelection Jitters” published on November 18, 2016, Bloomberg.com published: “Dispute Over $127.5 Million Leonardo Painting Draws in Sotheby’s” on November 22, 2016. More interesting news about Sothebys (NYSE:BID) were released by: Nytimes.com and their article: “Edvard Munch Brings $54 Million Amid ‘Thinner’ Sales at Sotheby’s” published on November 15, 2016 as well as Nytimes.com‘s news article titled: “Arts|Sotheby’s Reports $54.5 Million Loss in 3rd Quarter” with publication date: November 07, 2016.

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By Marguerite Chambers


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