Sotheby’s (NYSE:BID) has been assigned an average rating of “Hold” from the seven brokerages that are covering the stock. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $33.50.
Several analysts have issued reports on BID shares. Sidoti started coverage on Sotheby’s in a research note on Thursday, December 29th. They issued a “buy” rating on the stock. Zacks Investment Research raised Sotheby’s from a “sell” rating to a “hold” rating in a research report on Tuesday, January 17th. TheStreet downgraded Sotheby’s from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $36.00 target price on shares of Sotheby’s in a research report on Monday, October 31st.
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Institutional investors have recently made changes to their positions in the company. Tocqueville Asset Management L.P. acquired a new position in shares of Sotheby’s during the second quarter worth $282,000. Wright Investors Service Inc. increased its position in shares of Sotheby’s by 2.1% in the second quarter. Wright Investors Service Inc. now owns 8,565 shares of the company’s stock worth $235,000 after buying an additional 175 shares during the period. Fosun International Ltd acquired a new position in shares of Sotheby’s during the second quarter worth $682,000. JPMorgan Chase & Co. increased its position in shares of Sotheby’s by 2,579.1% in the second quarter. JPMorgan Chase & Co. now owns 82,194 shares of the company’s stock worth $2,252,000 after buying an additional 79,126 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in shares of Sotheby’s by 27.4% in the second quarter. UBS Asset Management Americas Inc. now owns 38,853 shares of the company’s stock worth $1,065,000 after buying an additional 8,355 shares during the period. 88.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Sotheby’s (NYSE:BID) opened at 41.29 on Tuesday. The firm’s market capitalization is $2.19 billion. Sotheby’s has a 12 month low of $19.50 and a 12 month high of $42.66. The stock’s 50 day moving average price is $39.93 and its 200-day moving average price is $38.36.
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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