Malaga Cove Capital LLC Has $1.56 Million Stake in FIGS, Inc. (NYSE:FIGS)

Key Points

• Malaga Cove Capital LLC increased its stake in FIGS, Inc. by 57.1% in the first quarter, now holding 340,438 shares valued at approximately $1.56 million.
• Several hedge funds, including GAMMA Investing LLC, have also expanded their investments in FIGS, reflecting strong institutional interest with 92.21% of the stock owned by institutional investors.
• Analysts have mixed ratings on FIGS, with Morgan Stanley raising its price target to $5.00 while Goldman Sachs maintains a sell rating with a price target of $4.50.

Malaga Cove Capital LLC raised its stake in shares of FIGS, Inc. (NYSE:FIGS - Free Report) by 57.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 340,438 shares of the company's stock after buying an additional 123,769 shares during the quarter. Malaga Cove Capital LLC owned about 0.21% of FIGS worth $1,563,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. boosted its holdings in FIGS by 37.9% in the fourth quarter. Ameriprise Financial Inc. now owns 12,188,166 shares of the company's stock valued at $75,445,000 after acquiring an additional 3,352,846 shares during the last quarter. Security Benefit Life Insurance Co. KS bought a new stake in FIGS in the first quarter valued at about $6,962,000. Pacer Advisors Inc. bought a new stake in FIGS in the first quarter valued at about $4,640,000. Dimensional Fund Advisors LP increased its holdings in FIGS by 23.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,350,572 shares of the company's stock valued at $26,931,000 after buying an additional 827,149 shares during the last quarter. Finally, Bamco Inc. NY boosted its stake in FIGS by 2.7% in the fourth quarter. Bamco Inc. NY now owns 30,837,759 shares of the company's stock valued at $190,886,000 after acquiring an additional 807,681 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

FIGS Price Performance

Shares of NYSE FIGS traded down $0.02 during mid-day trading on Monday, hitting $6.20. The company had a trading volume of 1,695,031 shares, compared to its average volume of 1,857,566. The business's 50-day simple moving average is $5.59 and its 200-day simple moving average is $5.07. FIGS, Inc. has a 12 month low of $3.57 and a 12 month high of $7.05. The firm has a market cap of $1.01 billion, a P/E ratio of 620.12 and a beta of 1.34.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley boosted their price objective on FIGS from $4.25 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Telsey Advisory Group restated a "market perform" rating and set a $5.00 price target on shares of FIGS in a report on Monday. Barclays reissued a "positive" rating on shares of FIGS in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group increased their target price on shares of FIGS from $3.75 to $4.50 and gave the stock a "sell" rating in a research report on Tuesday, July 22nd.

FIGS Profile

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. It designs and sells healthcare apparel and scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.