Wayfair Inc. $W Shares Bought by Wolf Hill Capital Management LP

Key Points

• Wolf Hill Capital Management LP boosted its Wayfair stake by 62.5% in the fourth quarter, ending with 1.27 million shares worth about $127.8 million. Wayfair is now the fund’s second-largest position and represents roughly 14.1% of its holdings.
• Wayfair reported Q1 earnings of $0.26 per share, matching estimates, while revenue rose 7.4% year over year to $2.93 billion and slightly topped analyst forecasts. The company still posted negative net margin and return on equity, but analysts now expect full-year EPS of 0.63.
• Wall Street remains broadly positive on the stock, with an average “Moderate Buy” rating and a consensus price target of $99.68. However, some firms have lowered targets recently, including Needham trimming its objective to $83 from $125.

Wolf Hill Capital Management LP grew its stake in Wayfair Inc. (NYSE:W - Free Report) by 62.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,273,004 shares of the company's stock after buying an additional 489,404 shares during the period. Wayfair makes up approximately 14.1% of Wolf Hill Capital Management LP's holdings, making the stock its 2nd biggest position. Wolf Hill Capital Management LP owned about 0.98% of Wayfair worth $127,822,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Webster Bank N. A. acquired a new stake in shares of Wayfair in the fourth quarter worth about $30,000. V Square Quantitative Management LLC acquired a new stake in shares of Wayfair in the fourth quarter worth about $33,000. Piper Sandler & CO. acquired a new stake in shares of Wayfair in the fourth quarter worth about $34,000. Havemeyer Place LP acquired a new stake in shares of Wayfair in the fourth quarter worth about $39,000. Finally, EverSource Wealth Advisors LLC lifted its position 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 purchasing an additional 653 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company's stock.

Wayfair Stock Performance

NYSE W opened at $77.37 on Monday. The stock has a 50-day simple moving average of $70.55 and a 200 day simple moving average of $85.55. The stock has a market capitalization of $10.21 billion, a PE ratio of -33.06, a P/E/G ratio of 4.08 and a beta of 3.02. Wayfair Inc. has a twelve month low of $45.46 and a twelve month high of $119.98.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analysts' expectations 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 for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 EPS. As a group, equities research analysts forecast that Wayfair Inc. will post 0.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on W. Needham & Company LLC cut their price objective on Wayfair from $125.00 to $83.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Wall Street Zen cut Wayfair from a "buy" rating to a "hold" rating in a research report on Saturday, February 21st. Piper Sandler reissued an "overweight" rating and set a $125.00 price objective on shares of Wayfair in a research report on Friday, February 20th. Weiss Ratings cut Wayfair from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 2nd. Finally, Robert W. Baird set a $76.00 price objective on Wayfair in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Wayfair presently has an average rating of "Moderate Buy" and an average target price of $99.68.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,790 shares of the company's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $72.19, for a total value of $345,790.10. Following the completion of the transaction, the insider owned 111,158 shares of the company's stock, valued at $8,024,496.02. This represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 company's stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 436,212 shares of the company's stock, valued at approximately $33,806,430. This trade represents a 20.55% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 463,785 shares of company stock valued at $35,864,224 in the last quarter. Corporate insiders own 18.44% of the company's stock.

Wayfair Company 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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