Penn Capital Management Company LLC Purchases Shares of 245,298 ThredUp Inc. $TDUP

Key Points

• Penn Capital Management bought a new stake in ThredUp, acquiring 245,298 shares valued at about $1.57 million in the fourth quarter and representing roughly 0.20% of the company.
• ThredUp shares were up 6.9% to $4.66, while the company reported first-quarter EPS of -$0.05, matching expectations and posting revenue of $81.67 million, slightly above estimates.
• Analyst sentiment remains mixed but generally positive, with a Moderate Buy consensus and an average price target of $9.14; meanwhile, insider activity showed both a CFO sale and a director purchase earlier this year.

Penn Capital Management Company LLC purchased a new stake in ThredUp Inc. (NASDAQ:TDUP - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 245,298 shares of the company's stock, valued at approximately $1,567,000. Penn Capital Management Company LLC owned about 0.20% of ThredUp as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of TDUP. Bank of America Corp DE raised its holdings in ThredUp by 42.6% in the 4th quarter. Bank of America Corp DE now owns 77,456 shares of the company's stock valued at $108,000 after acquiring an additional 23,156 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in ThredUp by 7.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company's stock valued at $90,000 after acquiring an additional 2,659 shares during the last quarter. AQR Capital Management LLC raised its holdings in ThredUp by 185.9% in the 1st quarter. AQR Capital Management LLC now owns 94,652 shares of the company's stock valued at $228,000 after acquiring an additional 61,547 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in ThredUp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company's stock valued at $115,000 after acquiring an additional 2,034 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in ThredUp by 39.2% in the 1st quarter. Jane Street Group LLC now owns 92,376 shares of the company's stock valued at $223,000 after acquiring an additional 25,995 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

ThredUp Stock Up 6.9%

Shares of NASDAQ TDUP opened at $4.66 on Thursday. ThredUp Inc. has a 12-month low of $3.08 and a 12-month high of $12.28. The company has a market cap of $601.33 million, a P/E ratio of -29.13 and a beta of 2.07. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average price of $4.01 and a 200 day moving average price of $5.31.

ThredUp (NASDAQ:TDUP - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). ThredUp had a negative return on equity of 36.11% and a negative net margin of 6.68%.The firm had revenue of $81.67 million during the quarter, compared to the consensus estimate of $80.17 million. Research analysts anticipate that ThredUp Inc. will post -0.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Telsey Advisory Group cut their price target on ThredUp from $9.00 to $7.00 and set an "outperform" rating for the company in a report on Tuesday, May 5th. TD Cowen upped their price objective on ThredUp from $5.00 to $5.70 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Weiss Ratings restated a "sell (e+)" rating on shares of ThredUp in a report on Friday, March 27th. Finally, Wells Fargo & Company dropped their price objective on ThredUp from $10.00 to $8.00 and set an "overweight" rating for the company in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $9.14.

Insider Activity at ThredUp

In related news, CFO Sean Sobers sold 56,504 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $3.82, for a total value of $215,845.28. Following the completion of the sale, the chief financial officer directly owned 555,254 shares in the company, valued at approximately $2,121,070.28. This represents a 9.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patricia Nakache purchased 13,157 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average price of $3.73 per share, with a total value of $49,075.61. Following the completion of the acquisition, the director owned 14,017 shares in the company, valued at $52,283.41. This represents a 1,529.88% increase in their position. The SEC filing for this purchase provides additional information. 23.10% of the stock is owned by insiders.

ThredUp Profile

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp's in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.

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