Sotheby’s (NYSE:BID) Rating Reaffirmed
In analysts report issued to investors and clients on Friday morning, The Buy rating of Sotheby’s (NYSE:BID) shares was kept steady at Stifel, who now has a $30 target price per share on the stock. Stifel’s target price per share indicates a possible upside of 13.29% from the previous close of the company.
From a total of 6 analysts covering Sotheby’s (NYSE:BID) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $50 while the lowest target price is $29. The mean of all analyst targets is $37 with a 52.30% above today’s ($26.48) stock price. Sotheby’s was the topic of 4 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. Stifel Nicolaus maintained shares on November 10 with “Buy” rating. TheStreet downgraded BID stock in a recent report from July 28 to “Hold” rating.
The stock decreased 2.22% or $0.6 during the last trading session, striking $26.48. Approximately shares of stock traded hands. Sothebys (NYSE:BID) has declined 40.55% since May 15, 2015 and is downtrending. It has underperformed by 36.74% the S&P500.
The overall sentiment of institutions has decreased to 1.04 in Q2 2015. Its down 0.03, from 1.07 in 2015Q2. The ratio is negative, as 37 institutions have sold all the shares of Sothebys that they owned while 77 funds have taken shares off the table. 31 funds have purchased shares for the first time while 87 added to their positions. These institutions now hold 67.80 million shares or 6.59% less than the 72.58 million shares they owned in 2015Q2.
The Fund Marcato Capital Management Lp currently is holding shares equating to 10.55% of its total portfolio in Sothebys representing a total of 6.57 million shares. Another fund,Jericho Capital Asset Management L.P., is holding a total of 2.32 million shares equating to 4.62% of their holdings. Additionally, Villere St Denis J & Co Llc has a 2.69 million share stake in Sothebys which represents 4.56% of their total portfolio. The Fund, Kerrisdale Advisers Llc, based out of New York, has also built up a stake in the stock, which represents a total of 4.31% of their total portfolio. Finally Silver Capital Management Llc, a fund which is based in the state of New York reported a total holdings of 12,163 shares.
Sotheby’s is a global art business company. The company has a market cap of $1.81 billion. The Firm operates in three divisions: Agency, Principal and Finance. It has 14.47 P/E ratio. The Company’s Agency segment accepts property on consignment, stimulates buyer interest through professional marketing techniques, and matches sellers to buyers through the auction or private sale process.
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.”