Moore Capital Management LP Takes Position in Wayfair Inc. $W

Moore Capital Management LP acquired a new stake in shares of Wayfair Inc. (NYSE:W) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 197,468 shares of the company’s stock, valued at approximately $19,828,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Webster Bank N. A. bought a new position in Wayfair during the 4th quarter worth approximately $30,000. V Square Quantitative Management LLC bought a new position in Wayfair during the 4th quarter worth approximately $33,000. Piper Sandler & CO. bought a new position in Wayfair during the 4th quarter worth approximately $34,000. Havemeyer Place LP bought a new position in Wayfair during the 4th quarter worth approximately $39,000. Finally, EverSource Wealth Advisors LLC grew its position in 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 last quarter. 89.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on W. Royal Bank Of Canada reduced their price target on Wayfair from $92.00 to $76.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 30th. Mizuho reduced their price target on Wayfair from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. UBS Group reduced their price target on Wayfair from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Guggenheim restated a “buy” rating and set a $100.00 price target on shares of Wayfair in a research report on Wednesday, May 20th. Finally, Morgan Stanley set a $110.00 price target on Wayfair in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and a consensus target price of $99.68.

Wayfair Stock Performance

Shares of W stock opened at $81.62 on Thursday. The firm has a market cap of $10.77 billion, a P/E ratio of -34.88, a P/E/G ratio of 4.37 and a beta of 3.02. Wayfair Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $119.98. The business’s 50 day moving average price is $71.17 and its 200-day moving average price is $84.94.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates 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 business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. As a group, equities analysts predict that Wayfair Inc. will post 0.63 EPS for the current year.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 4,790 shares of Wayfair 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 sale, the insider directly owned 111,158 shares in the company, valued at approximately $8,024,496.02. This trade represents a 4.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 7,139 shares of Wayfair stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $78.55, for a total value of $560,768.45. Following the completion of the sale, the director owned 429,073 shares in the company, valued at approximately $33,703,684.15. This represents a 1.64% 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.

About Wayfair

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.