Sothebys Stock Falls On Unusually High Volume (BID)

NEW YORK ( TheStreet) -- Sothebys (NYSE: BID) is trading at unusually high volume Thursday with 5.1 million shares changing hands. It is currently at four times its average daily volume and trading down $4.39 (-11.2%) at $34.95 as of 2:45 p.m. ET.

Sothebys has a market cap of $2.3 billion and is part of the services sector and specialty retail industry. Shares are up 37.9% year to date as of the close of trading on Wednesday.

Sotheby's, together with its subsidiaries, operates as an auctioneer of fine and decorative art, jewelry, and collectibles in North America, Europe, and Asia. The company operates in three segments: Auction, Finance, and Dealer. The company has a P/E ratio of 14.1, above the average specialty retail industry P/E ratio of 12.2 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Sothebys as a hold. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and a generally disappointing performance in the stock itself. You can view the full Sothebys Ratings Report.

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