Company shares are trading at $51.44 which is just a bit higher than $47.14, the 50 day moving average and which is marginally over the 200 day moving average of $49.74. The 50 day moving average was up $4.30 or +9.11% and the 200 day average was up $1.70. Sotheby’s shares had a trading volume of 307K in the last trading session. Volume was down 70.30% under the stocks average daily volume.
Investors are a little more bullish on Sotheby’s of late if you evaluate the decrease in short interest. The company realized a fall in short interest of -32.16% as of September 29, 2017 from the last reporting period. Short interest fell from 6,653,650 to 4,513,746 over that period. The short-interest ratio increased to 12.0 and the percentage of shorted shares is 0.09% as of September 29.
Here are a few substantial investment firms who have updated their positions. As of quarter end Meeder Asset Management Inc had acquired a total of 13 shares growing its holdings by 1.4%. The value of the investment in BID decreased from $52,000 to $45,000 a change of 13.5% quarter to quarter. Mutual Of America Capital Management LLC reduced its position by selling 6,426 shares a decrease of 17.5% from 06/30/2017 to 09/30/2017. Mutual Of America Capital Management LLC now holds 30,297 shares with a value of $1,397,000. The total value of its holdings decreased 29.1%.
State Treasurer State Of Michigan cut its holdings by shedding 4,900 shares a decrease of 25.9% in the quarter. State Treasurer State Of Michigan currently owns 14,027 shares worth $647,000. The value of the position overall is down by 36.3%. Conestoga Capital Advisors, LLC grew its stake by buying 86,575 shares an increase of 12.0% as of 09/30/2017. Conestoga Capital Advisors, LLC owns 807,243 shares valued at $37,222,000. The total value of its holdings decreased 3.8%.
Sotheby’s currently has a P/E ratio of 36.90 and the market cap is 2.71B. In the latest earnings report the EPS was $1.39 and is estimated to be $1.94 for the current year with 52,670,000 shares presently outstanding. Analysts expect next quarter’s EPS will be $1.40 and the next full year EPS is anticipated to be $2.44.
Sotheby’s, launched on March 30, 2006, is a global art business company. The Company is involved in offering its clients opportunities to connect with and transact in a range of objects. The Company offers a range of art-related services, including the brokerage of private art sales, private jewelry sales through Sotheby’s Diamonds, private selling exhibitions at its galleries, art-related financing, and art advisory services, as well as retail wine locations in New York and Hong Kong. The Company operates through two segments: Agency and Finance. The Agency segment matches 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. Its 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, an equity investee that operates as an auction house for investment-quality automobiles. The Finance segment earns interest income through art-related financing activities by making loans that are secured by works of art. The Business’s advisory services are classified within All Other segment, along with its retail wine business, brand licensing activities, the activities of Acquavella Modern Art (AMA), an equity investee, and sales of the remaining inventory of Noortman Master Paintings, an art dealer..