Invenomic Capital Management LP Makes New $8.29 Million Investment in Wayfair Inc. (NYSE:W)

Invenomic Capital Management LP bought a new stake in shares of Wayfair Inc. (NYSE:W - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 187,098 shares of the company's stock, valued at approximately $8,292,000. Invenomic Capital Management LP owned about 0.15% of Wayfair at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. J.Safra Asset Management Corp increased its position in Wayfair by 71.3% in the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock worth $26,000 after buying an additional 244 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock valued at $26,000 after acquiring an additional 502 shares during the period. GAMMA Investing LLC lifted its holdings in Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company's stock valued at $31,000 after purchasing an additional 281 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Wayfair during the fourth quarter valued at about $41,000. Finally, Venturi Wealth Management LLC bought a new position in Wayfair during the fourth quarter worth about $45,000. 89.67% of the stock is currently owned by institutional investors.

Wayfair Stock Performance

Shares of Wayfair stock opened at $32.72 on Friday. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of -8.14 and a beta of 2.93. The company has a fifty day moving average of $30.64 and a 200-day moving average of $40.14. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $76.18.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.24. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period last year, the business posted ($0.32) earnings per share. The firm's quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In related news, insider Jon Blotner sold 19,257 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.68, for a total transaction of $610,061.76. Following the transaction, the insider now owns 78,308 shares in the company, valued at $2,480,797.44. The trade was a 19.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kate Gulliver sold 19,296 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total value of $611,104.32. Following the completion of the sale, the chief financial officer now owns 144,474 shares of the company's stock, valued at approximately $4,575,491.58. This trade represents a 11.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,915 shares of company stock worth $3,389,028. 21.91% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on W shares. BMO Capital Markets set a $38.00 price objective on shares of Wayfair in a report on Friday, May 2nd. Citigroup raised their price target on Wayfair from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Truist Financial set a $40.00 price objective on Wayfair in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft downgraded Wayfair from a "buy" rating to a "hold" rating and set a $25.00 target price for the company. in a research note on Monday, April 14th. Finally, Raymond James set a $60.00 target price on Wayfair and gave the company a "strong-buy" rating in a report on Friday, February 21st. Fourteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.25.

Wayfair Company Profile

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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