FIGS, Inc. $FIGS Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its FIGS position by 7.8% in the first quarter, purchasing 257,644 additional shares and bringing its holdings to 3.55 million shares worth approximately $52.5 million.
• Institutional interest remains high, with hedge funds and other institutional investors owning 92.21% of FIGS; Jennison Associates also significantly expanded its stake, while several firms initiated new positions.
• FIGS reported quarterly EPS of $0.03 and revenue of $159.9 million, exceeding estimates, with revenue up 28% year over year. Analysts maintain a “Moderate Buy” consensus and an average price target of $15.93 versus the stock’s $10.70 opening price.

Dimensional Fund Advisors LP lifted its position in FIGS, Inc. (NYSE:FIGS - Free Report) by 7.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,552,919 shares of the company's stock after purchasing an additional 257,644 shares during the quarter. Dimensional Fund Advisors LP owned about 2.14% of FIGS worth $52,472,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. KBC Group NV purchased a new position in FIGS during the first quarter worth about $3,782,000. Jennison Associates LLC boosted its holdings in FIGS by 178.4% in the 1st quarter. Jennison Associates LLC now owns 1,401,214 shares of the company's stock valued at $20,696,000 after purchasing an additional 897,935 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of FIGS in the 1st quarter valued at approximately $878,000. Hillsdale Investment Management Inc. purchased a new stake in shares of FIGS in the 1st quarter valued at approximately $7,028,000. Finally, Calamos Advisors LLC acquired a new stake in shares of FIGS during the 1st quarter worth approximately $730,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

FIGS Stock Performance

Shares of FIGS stock opened at $10.70 on Monday. The firm has a market cap of $1.79 billion, a P/E ratio of 48.62 and a beta of 1.03. The firm's 50 day moving average price is $11.00 and its 200-day moving average price is $12.52. FIGS, Inc. has a one year low of $6.07 and a one year high of $17.48.

FIGS (NYSE:FIGS - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $159.90 million during the quarter, compared to the consensus estimate of $153.15 million. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The company's revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, research analysts predict that FIGS, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FIGS. Weiss Ratings lowered shares of FIGS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. Morgan Stanley raised their target price on FIGS from $8.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Monday, April 13th. KeyCorp restated an "overweight" rating on shares of FIGS in a research report on Tuesday, June 23rd. Zacks Research lowered FIGS from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 8th. Finally, BTIG Research reiterated a "buy" rating and set a $20.00 price target on shares of FIGS in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $15.93.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source