Moore Capital Management LP Invests $19.83 Million in Wayfair Inc. $W

Key Points

• Moore Capital Management initiated a new position in Wayfair, buying 197,468 shares valued at about $19.83 million in the fourth quarter. The fund now owns roughly 0.15% of the company.
• Wayfair reported quarterly earnings that matched expectations, posting $0.26 EPS on revenue of $2.93 billion, with revenue up 7.4% year over year. However, profitability remained weak, with negative return on equity and net margin.
• Analysts remain generally upbeat on the stock despite mixed views, with a consensus rating of “Moderate Buy” and an average price target of $99.68. Recent insider selling was notable, including transactions by Jon Blotner and director Steven Conine.

Moore Capital Management LP purchased a new position in shares of Wayfair Inc. (NYSE:W - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 197,468 shares of the company's stock, valued at approximately $19,828,000. Moore Capital Management LP owned 0.15% of Wayfair as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in W. Webster Bank N. A. bought a new position in shares of Wayfair during the 4th quarter worth $30,000. V Square Quantitative Management LLC bought a new position in shares of Wayfair during the 4th quarter worth $33,000. Piper Sandler & CO. bought a new position in shares of Wayfair during the 4th quarter worth $34,000. Havemeyer Place LP bought a new position in shares of Wayfair during the 4th quarter worth $39,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company's stock worth $42,000 after acquiring an additional 653 shares during the period. Institutional investors own 89.67% of the company's stock.

Wayfair Stock Down 1.9%

NYSE:W opened at $81.62 on Thursday. The stock has a market cap of $10.77 billion, a P/E ratio of -34.88, a PEG ratio of 4.37 and a beta of 3.02. The business's 50-day moving average price is $71.17 and its two-hundred day moving average price is $84.94. Wayfair Inc. has a twelve month low of $47.21 and a twelve month high of $119.98.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The company's revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS. On average, equities research analysts expect that Wayfair Inc. will post 0.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Evercore set a $100.00 price objective on Wayfair in a report on Friday, February 20th. Truist Financial set a $99.00 price objective on Wayfair in a report on Monday, June 8th. Robert W. Baird set a $76.00 price target on Wayfair in a report on Monday, May 4th. UBS Group lowered their price target on Wayfair from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, May 1st. Finally, Royal Bank Of Canada lowered their price target on Wayfair from $92.00 to $76.00 and set a "sector perform" rating on the stock in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $99.68.

Insider Activity

In other news, insider Jon Blotner sold 4,790 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $72.19, for a total transaction of $345,790.10. Following the transaction, the insider directly owned 111,158 shares in the company, valued at approximately $8,024,496.02. This represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 112,861 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $77.50, for a total value of $8,746,727.50. Following the transaction, the director owned 436,212 shares in the company, valued at $33,806,430. This trade represents a 20.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 463,785 shares of company stock worth $35,864,224. 18.44% of the stock is currently owned by insiders.

Wayfair Profile

Wayfair Inc NYSE: W is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company's portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.

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