RFG Advisory LLC Takes $292,000 Position in Wayfair Inc. $W

Key Points

• RFG Advisory LLC acquired a new stake in Wayfair Inc., purchasing 5,710 shares valued at approximately $292,000 during the second quarter.
• Wayfair reported earnings per share (EPS) of $0.87 for the last quarter, significantly beating the consensus estimate of $0.33, and revenue increased 5.0% year-over-year.
• Insider transactions included the sale of 85,000 shares by CEO Niraj Shah and insider Steven Conine, each reducing their ownership by around 18.5%.

RFG Advisory LLC purchased a new stake in Wayfair Inc. (NYSE:W - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,710 shares of the company's stock, valued at approximately $292,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC increased its position in shares of Wayfair by 111.7% in the first quarter. AQR Capital Management LLC now owns 524,072 shares of the company's stock valued at $16,786,000 after acquiring an additional 276,471 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Wayfair during the first quarter worth approximately $452,000. Signaturefd LLC boosted its holdings in shares of Wayfair by 10.1% during the second quarter. Signaturefd LLC now owns 376,697 shares of the company's stock worth $19,264,000 after acquiring an additional 34,507 shares during the period. Rhumbline Advisers boosted its holdings in shares of Wayfair by 4.3% during the first quarter. Rhumbline Advisers now owns 91,272 shares of the company's stock worth $2,923,000 after acquiring an additional 3,725 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Wayfair by 85.8% during the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after acquiring an additional 609 shares during the period. Institutional investors and hedge funds own 89.67% of the company's stock.

Wayfair Trading Down 0.9%

Shares of W stock opened at $82.42 on Monday. The stock has a market cap of $10.69 billion, a P/E ratio of -34.34 and a beta of 3.03. The stock has a 50 day simple moving average of $81.92 and a 200 day simple moving average of $57.87. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $91.77.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.54. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.11 billion. The company's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 earnings per share. Analysts forecast that Wayfair Inc. will post -2.54 EPS for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Steven Conine sold 85,000 shares of the company's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the completion of the sale, the insider directly owned 374,073 shares in the company, valued at $32,465,795.67. This represents a 18.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Niraj Shah sold 85,000 shares of the company's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $86.79, for a total value of $7,377,150.00. Following the sale, the chief executive officer owned 374,137 shares of the company's stock, valued at $32,471,350.23. The trade was a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 790,000 shares of company stock valued at $63,585,337 over the last 90 days. Corporate insiders own 21.91% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on W shares. Needham & Company LLC boosted their price objective on Wayfair from $40.00 to $83.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Wells Fargo & Company boosted their price objective on Wayfair from $84.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday. Gordon Haskett upgraded Wayfair from a "hold" rating to a "moderate buy" rating in a report on Monday, August 4th. UBS Group boosted their price objective on Wayfair from $91.00 to $102.00 and gave the stock a "buy" rating in a report on Friday. Finally, Morgan Stanley restated an "overweight" rating and set a $70.00 price objective (up previously from $50.00) on shares of Wayfair in a report on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $74.50.

About Wayfair

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.

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