December 1, 2016 - By Marguerite Chambers · 0 Comments
Sothebys (NYSE:BID) institutional sentiment increased to 0.59 in 2016 Q2. Its up 0.02, from 0.57 in 2016Q1. The ratio is positive, as 65 active investment managers started new or increased holdings, while 115 trimmed and sold equity positions in Sothebys. The active investment managers in our partner’s database now have: 55.16 million shares, down from 57.52 million shares in 2016Q1. Also, the number of active investment managers holding Sothebys in their top 10 holdings was flat from 2 to 2 for the same number . Sold All: 37 Reduced: 78 Increased: 38 New Position: 27.
Sotheby’s is a global art business company. The company has a market cap of $2.05 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.
The stock increased 1.19% or $0.46 during the last trading session, hitting $39.06. Sothebys (NYSE:BID) has risen 41.83% since April 28, 2016 and is uptrending. It has outperformed by 35.90% the S&P500.
Analysts await Sothebys (NYSE:BID) to report earnings on February, 24. They expect $1.35 EPS, up 13.45% or $0.16 from last year’s $1.19 per share. BID’s profit will be $70.85M for 7.23 P/E if the $1.35 EPS becomes a reality. After $-0.78 actual EPS reported by Sothebys for the previous quarter, Wall Street now forecasts -273.08% EPS growth.
According to Zacks Investment Research, “Sotheby’s Holdings, Inc. is one of the world’s second largest auctioneers of fine arts, antiques and collectibles, offering property in collecting categories, among them paintings, jewelry, decorative arts, and books. Sotheby’s Holdings, Inc is the parent company of Sotheby’s worldwide auction businesses, art-related financing and private sales activities. The Company operates in countries, with principal salesrooms located in New York and London. The company also regularly conducts auctions in other salesrooms around the world, including Australia, Hong Kong, France, Italy, the Netherlands, Switzerland and Singapore.”
Marcato Capital Management Lp holds 11.7% of its portfolio in Sothebys for 5.27 million shares. Shanda Asset Management Holdings Ltd owns 2.19 million shares or 11.54% of their US portfolio. Moreover, Villere St Denis J & Co Llc has 3.25% invested in the company for 1.97 million shares. The Colorado-based Paradice Investment Management Llc has invested 2.47% in the stock. Van Berkom & Associates Inc., a Quebec – Canada-based fund reported 1.65 million shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 1 insider purchase, and 1 insider sale for $719,589 net activity.
Ratings analysis reveals 13% of Sotheby’s’s analysts are positive. Out of 8 Wall Street analysts rating Sotheby’s, 1 give it “Buy”, 0 “Sell” rating, while 7 recommend “Hold”. The lowest target is $25 while the high is $49.0. The stock’s average target of $32.50 is -16.79% below today’s ($39.06) share price. BID was included in 12 notes of analysts from July 28, 2015. On Tuesday, November 10 the stock rating was maintained by Stifel Nicolaus with “Buy”. On Thursday, April 14 the stock rating was downgraded by Standpoint Research to “Hold”. The firm earned “Buy” rating on Wednesday, January 20 by Standpoint Research. The firm has “Hold” rating by Sitfel given on Thursday, February 11. The firm earned “Buy” rating on Friday, December 18 by Stifel Nicolaus. The stock of Sothebys (NYSE:BID) has “Hold” rating given on Tuesday, July 28 by TheStreet. Barrington Research downgraded the stock to “Mkt Perform” rating in Friday, February 26 report. Williams Capital Group maintained the stock with “Buy” rating in Thursday, September 3 report. The firm earned “Hold” rating on Thursday, February 11 by Stifel Nicolaus.
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: “Art & Design|Sotheby’s Tries to Block Suit Over a Leonardo Sold and Resold at …” on November 28, 2016, also Bloomberg.com with their article: “Sotheby’s, a Prized Art Client and His $47.5 Million da Vinci Markup” published on November 30, 2016, Nytimes.com published: “Sotheby’s, Christie’s and Phillips Take Different Paths to ‘Sold!'” on November 23, 2016. More interesting news about Sothebys (NYSE:BID) were released by: Forbes.com and their article: “Buy Experiences, Not Things: Sotheby’s And IfOnly Are Auctioning Once-In-A …” published on November 29, 2016 as well as Nytimes.com‘s news article titled: “Arts|Strong Sales at Sotheby’s Contemporary Auction Despite Postelection Jitters” with publication date: November 18, 2016.
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By Marguerite Chambers