a.k.a. Brands (NYSE:AKA) Issues Quarterly Earnings Results

Key Points

• a.k.a. Brands exceeded earnings expectations, reporting a quarterly loss of $0.01 per share versus analysts’ expected loss of $0.41. Revenue reached $160.07 million, slightly below the $162.62 million consensus estimate.
• The company remains unprofitable, with a negative net margin of 5.00% and negative return on equity of 23.32%. Shares traded at $11.31, within a 12-month range of $8.42 to $16.38.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and a $19.00 price target. Institutional investors own 55.35% of the stock, while 683 Capital Management recently acquired a new 36,417-share position.

a.k.a. Brands (NYSE:AKA - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.41) by $0.40, FiscalAI reports. The business had revenue of $160.07 million during the quarter, compared to analyst estimates of $162.62 million. a.k.a. Brands had a negative net margin of 5.00% and a negative return on equity of 23.32%.

a.k.a. Brands Price Performance

AKA traded up $0.26 during trading on Wednesday, reaching $11.31. 5,843 shares of the company traded hands, compared to its average volume of 3,900. The company has a market cap of $122.37 million, a P/E ratio of -4.02 and a beta of 1.40. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.55 and a current ratio of 1.19. a.k.a. Brands has a 12-month low of $8.42 and a 12-month high of $16.38. The firm has a fifty day simple moving average of $10.25 and a 200 day simple moving average of $10.46.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of a.k.a. Brands in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, a.k.a. Brands presently has an average rating of "Hold" and a consensus price target of $19.00.

Hedge Funds Weigh In On a.k.a. Brands

A hedge fund recently bought a new position in a.k.a. Brands stock. 683 Capital Management LLC purchased a new position in a.k.a. Brands Holding Corp. (NYSE:AKA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 36,417 shares of the company's stock, valued at approximately $390,000. 683 Capital Management LLC owned approximately 0.34% of a.k.a. Brands as of its most recent SEC filing. 55.35% of the stock is currently owned by hedge funds and other institutional investors.

a.k.a. Brands Company Profile

a.k.a. Brands Holding Corp. operates a portfolio of online fashion brands in the United States, Australia, and internationally. The company offers streetwear apparel, dresses, tops, bottoms, shoes, headwear, and accessories through its online stores under the Princess Polly, Petal & Pup, Culture Kings, and mnml brands. It also operates physical stores under the Culture Kings brand. The company was founded in 2018 and is headquartered in San Francisco, California.

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