Marshall Wace LLP Invests $4.17 Million in Wayfair Inc (W) Stock
Marshall Wace LLP bought a new position in shares of Wayfair Inc (NYSE:W) during the 2nd quarter, HoldingsChannel reports. The firm bought 35,111 shares of the company’s stock, valued at approximately $4,170,000.
Other institutional investors have also bought and sold shares of the company. Engineers Gate Manager LP acquired a new stake in shares of Wayfair in the second quarter valued at about $208,000. World Asset Management Inc acquired a new stake in shares of Wayfair in the second quarter valued at about $214,000. Peregrine Asset Advisers Inc. acquired a new stake in shares of Wayfair in the second quarter valued at about $214,000. Oppenheimer Asset Management Inc. grew its position in shares of Wayfair by 26.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,734 shares of the company’s stock valued at $253,000 after purchasing an additional 772 shares during the last quarter. Finally, Comerica Bank acquired a new stake in shares of Wayfair in the second quarter valued at about $255,000. 72.44% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the company. Bank of America downgraded Wayfair from a “buy” rating to a “neutral” rating and raised their price target for the company from $130.00 to $160.00 in a research report on Thursday, September 13th. Wells Fargo & Co assumed coverage on Wayfair in a research report on Wednesday, September 12th. They issued a “market perform” rating and a $150.00 price target on the stock. Loop Capital set a $155.00 price target on Wayfair and gave the company a “buy” rating in a research report on Monday, September 10th. Canaccord Genuity reaffirmed a “buy” rating and issued a $140.00 price target on shares of Wayfair in a research report on Wednesday, August 8th. Finally, Zacks Investment Research raised Wayfair from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $121.50.
Wayfair (NYSE:W) last released its earnings results on Thursday, August 2nd. The company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.73) by ($0.04). Wayfair had a negative net margin of 6.28% and a negative return on equity of 31,507.11%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the business posted ($0.26) EPS. The firm’s quarterly revenue was up 47.4% on a year-over-year basis. analysts anticipate that Wayfair Inc will post -5.17 EPS for the current year.
In other Wayfair news, COO James Savarese sold 99,570 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $150.18, for a total transaction of $14,953,422.60. Following the completion of the transaction, the chief operating officer now owns 458,056 shares in the company, valued at $68,790,850.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Edmond Macri sold 600 shares of the firm’s stock in a transaction dated Tuesday, June 26th. The stock was sold at an average price of $111.37, for a total transaction of $66,822.00. Following the transaction, the insider now owns 42,507 shares of the company’s stock, valued at approximately $4,734,004.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 370,550 shares of company stock valued at $48,675,451. 37.75% of the stock is owned by corporate insiders.
Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.
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