Citadel Advisors Cut Its Stake in Sothebys (BID) as Valuation Rose; Parsec Financial Management Decreased Its Stake in Home Depot (HD) as Share Price Declined

June 6, 2018 - By William Brooks

Sotheby's (NYSE:BID) Logo

Parsec Financial Management Inc decreased its stake in Home Depot Inc (HD) by 2.66% based on its latest 2018Q1 regulatory filing with the SEC. Parsec Financial Management Inc sold 2,153 shares as the company’s stock declined 0.85% with the market. The institutional investor held 78,897 shares of the consumer services company at the end of 2018Q1, valued at $14.06 million, down from 81,050 at the end of the previous reported quarter. Parsec Financial Management Inc who had been investing in Home Depot Inc for a number of months, seems to be less bullish one the $221.41 billion market cap company. The stock increased 0.30% or $0.58 during the last trading session, reaching $191.94. About 4.23 million shares traded. The Home Depot, Inc. (NYSE:HD) has risen 19.42% since June 6, 2017 and is uptrending. It has outperformed by 6.85% the S&P500. Some Historical HD News: 15/05/2018 – Home Depot 1Q Gross Profit $8.62B, Up 5.7%; 24/04/2018 – KCTV5 News: #BREAKING: Two Dallas police officers shot, critically wounded at Home Depot -; 18/04/2018 – Home Depot Hiring at Primary Technology Centers in Atlanta, Austin, Dallas; 15/05/2018 – ♫ Reuters Insider – Dow snaps 8-day winning streak; 15/05/2018 – Home Depot 1Q EPS $2.08; 08/03/2018 – Home Depot to donate $50M to train construction workers, address severe shortage; 15/03/2018 – CPSC: Tents Sold Exclusively at Home Depot; 21/03/2018 – Austin Bombing Suspect Bought Some Materials at Home Depot; 24/04/2018 – KHOU 11 News Houston: BREAKING: Sources: 2 Dallas police officers, 1 civilian shot at Home Depot in north Dallas; 14/05/2018 – Home Depot well placed to withstand ”Amazon effect,” investors say

Ken Griffin decreased its stake in Sothebys (BID) by 31.2% based on its latest 2018Q1 regulatory filing with the SEC. Citadel Advisors Llc sold 16,222 shares as the company’s stock rose 17.24% while stock markets declined. The hedge fund run by Ken Griffin held 35,778 shares of the business services company at the end of 2018Q1, valued at $1.84M, down from 52,000 at the end of the previous reported quarter. Citadel Advisors Llc who had been investing in Sothebys for a number of months, seems to be less bullish one the $2.92B market cap company. The stock decreased 0.05% or $0.03 during the last trading session, reaching $56.25. About 191,954 shares traded. Sotheby's (NYSE:BID) has risen 5.32% since June 6, 2017 and is uptrending. It has underperformed by 7.25% the S&P500. Some Historical BID News: 04/05/2018 – Sotheby’s Shareholders Elect 11 Directors to Board; 22/05/2018 – Augmented Reality App Curate by Sotheby’s International Realty Now Available on Apple iOS; 03/05/2018 – Sotheby’s 1Q Loss/Shr 12c; 20/04/2018 – SPRINGSTEEN’S `BORN TO RUN’ LYRICS TO BE AUCTIONED AT SOTHEBY’S; 21/04/2018 – DJ Sotheby’s Class A, Inst Holders, 1Q 2018 (BID); 11/03/2018 – Sotheby’s Auction to Raise Money for Studio Museum’s New Home; 06/04/2018 – Sotheby’s International Realty Brand Enters Sri Lanka; 03/05/2018 – Sotheby’s 1Q Adj EPS 9c; 09/05/2018 – Sotheby’s International Realty Brand Expands Presence in Mexico; 10/04/2018 – MATTHEW ADAM PROPERTIES FORMS ALLIANCE WITH SOTHEBY’S INTL

Among 10 analysts covering Sotheby’s (NYSE:BID), 3 have Buy rating, 0 Sell and 7 Hold. Therefore 30% are positive. Sotheby’s had 19 analyst reports since July 28, 2015 according to SRatingsIntel. The firm earned “Hold” rating on Thursday, February 11 by Sitfel. The firm has “Buy” rating by Cowen & Co given on Thursday, March 1. The firm earned “Buy” rating on Friday, February 2 by Cowen & Co. The firm has “Buy” rating by Cowen & Co given on Friday, November 3. The company was maintained on Wednesday, March 28 by Cowen & Co. The firm has “Mkt Perform” rating by Barrington Research given on Friday, February 26. The stock of Sotheby's (NYSE:BID) has “Outperform” rating given on Friday, December 16 by Cowen & Co. Stifel Nicolaus maintained it with “Buy” rating and $30 target in Friday, December 18 report. On Thursday, September 3 the stock rating was maintained by Williams Capital Group with “Buy”. Stifel Nicolaus maintained the shares of BID in report on Tuesday, November 10 with “Buy” rating.

Citadel Advisors Llc, which manages about $181.79 billion US Long portfolio, upped its stake in Ebix Inc (NASDAQ:EBIX) by 16,865 shares to 31,265 shares, valued at $2.33 million in 2018Q1, according to the filing. It also increased its holding in Sangamo Therapeutics Inc (Call) (NASDAQ:SGMO) by 22,400 shares in the quarter, for a total of 121,100 shares, and has risen its stake in Paycom Software Inc (Call) (NYSE:PAYC).

Analysts await Sotheby's (NYSE:BID) to report earnings on August, 2. They expect $1.38 earnings per share, down 3.50% or $0.05 from last year’s $1.43 per share. BID’s profit will be $71.51 million for 10.19 P/E if the $1.38 EPS becomes a reality. After $0.09 actual earnings per share reported by Sotheby's for the previous quarter, Wall Street now forecasts 1,433.33% EPS growth.

Since March 5, 2018, it had 0 insider buys, and 2 sales for $3.45 million activity. $3.36 million worth of Sotheby's (NYSE:BID) was sold by Reza Olivier.

Investors sentiment increased to 0.99 in 2018 Q1. Its up 0.13, from 0.86 in 2017Q4. It is positive, as 15 investors sold BID shares while 69 reduced holdings. 30 funds opened positions while 53 raised stakes. 46.18 million shares or 0.10% more from 46.14 million shares in 2017Q4 were reported. Benjamin F Edwards And Inc has 0% invested in Sotheby's (NYSE:BID) for 100 shares. North Star Invest Management has 0.03% invested in Sotheby's (NYSE:BID). Morgan Stanley holds 0% in Sotheby's (NYSE:BID) or 288,097 shares. California State Teachers Retirement stated it has 0.01% in Sotheby's (NYSE:BID). Vanguard Grp accumulated 3.87M shares or 0.01% of the stock. 87,148 were accumulated by Manufacturers Life Ins The. Tokio Marine Asset Mgmt Ltd reported 0.19% of its portfolio in Sotheby's (NYSE:BID). Trexquant Invest Limited Partnership accumulated 0.02% or 5,467 shares. Gp Inc One Trading Limited Partnership, a Illinois-based fund reported 2,279 shares. New Mexico Educational Retirement Board invested 0.02% of its portfolio in Sotheby's (NYSE:BID). Vulcan Value Ltd holds 1.32M shares. First Manhattan owns 0% invested in Sotheby's (NYSE:BID) for 107 shares. Schwab Charles Inv Mngmt has 0.01% invested in Sotheby's (NYSE:BID). Quebec – Canada-based Van Berkom And Associate has invested 2.12% in Sotheby's (NYSE:BID). Swiss Fincl Bank holds 0% of its portfolio in Sotheby's (NYSE:BID) for 64,249 shares.

Another recent and important Sotheby's (NYSE:BID) news was published by Law360.com which published an article titled: “SEC Postpones Action On NYSE Bid To Ease Blank Check Rules” on June 01, 2018.

Parsec Financial Management Inc, which manages about $1.56 billion and $1.46B US Long portfolio, upped its stake in Wisdomtree Tr Us Smallcap Divd (DES) by 29,830 shares to 661,458 shares, valued at $18.12 million in 2018Q1, according to the filing. It also increased its holding in Cardinal Health Inc (NYSE:CAH) by 8,518 shares in the quarter, for a total of 173,387 shares, and has risen its stake in Vanguard Emerging Markets Stoc (VWO).

Investors sentiment decreased to 0.87 in 2018 Q1. Its down 0.06, from 0.93 in 2017Q4. It fall, as 72 investors sold HD shares while 666 reduced holdings. 116 funds opened positions while 523 raised stakes. 772.16 million shares or 2.08% less from 788.59 million shares in 2017Q4 were reported. Aimz Advsr Lc reported 6,780 shares. Round Table Service Ltd owns 1,345 shares. The New Hampshire-based Impax Asset Mngmt Limited Co has invested 1.44% in The Home Depot, Inc. (NYSE:HD). Nicholas Invest Ltd Partnership has 9,758 shares. Aviva Public Ltd Liability Co invested in 1.15% or 1.06M shares. Pictet North America Advsrs holds 1.85% or 69,044 shares in its portfolio. Yorktown Management Research holds 0.58% or 11,000 shares. Cohen Lawrence B, Massachusetts-based fund reported 1,513 shares. Everett Harris & Ca stated it has 44,630 shares. Smith Moore And holds 0.42% of its portfolio in The Home Depot, Inc. (NYSE:HD) for 8,768 shares. Ubs Asset Management Americas holds 5.33M shares. Franklin Street Advsr Nc stated it has 0.99% of its portfolio in The Home Depot, Inc. (NYSE:HD). Jfs Wealth Advisors Ltd Co holds 0.2% of its portfolio in The Home Depot, Inc. (NYSE:HD) for 4,345 shares. Alethea Capital Mngmt Ltd Llc has invested 0.48% in The Home Depot, Inc. (NYSE:HD). Capital Investors has 54.49 million shares.

More notable recent The Home Depot, Inc. (NYSE:HD) news were published by: Seekingalpha.com which released: “Home Depot: With Expected 28% EPS Growth In FY18, Mr. Market Is Short-Sighted” on May 21, 2018, also 247Wallst.com with their article: “What to Expect From Home Depot’s Q1” published on May 14, 2018, Seekingalpha.com published: “Home Depot: The Street Underappreciates This Reality” on May 16, 2018. More interesting news about The Home Depot, Inc. (NYSE:HD) were released by: Seekingalpha.com and their article: “Home Depot Vs. Lowe’s” published on May 30, 2018 as well as Benzinga.com‘s news article titled: “Cramer Says Home Depot Deserves ‘The Benefit Of The Doubt'” with publication date: May 15, 2018.

Analysts await The Home Depot, Inc. (NYSE:HD) to report earnings on August, 21. They expect $2.85 EPS, up 26.67% or $0.60 from last year’s $2.25 per share. HD’s profit will be $3.29 billion for 16.84 P/E if the $2.85 EPS becomes a reality. After $2.08 actual EPS reported by The Home Depot, Inc. for the previous quarter, Wall Street now forecasts 37.02% EPS growth.

Sotheby's (NYSE:BID) Institutional Positions Chart

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By1 William Brooks

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