Quinn Opportunity Partners LLC Makes New Investment in Wayfair Inc. (NYSE:W)

Quinn Opportunity Partners LLC bought a new stake in shares of Wayfair Inc. (NYSE:W) during the fourth quarter, Holdings Channel.com reports. The fund bought 89,700 shares of the company’s stock, valued at approximately $3,976,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Treasurer of the State of North Carolina grew its holdings in Wayfair by 2.2% in the fourth quarter. Treasurer of the State of North Carolina now owns 41,890 shares of the company’s stock valued at $1,857,000 after purchasing an additional 920 shares during the period. Greenland Capital Management LP purchased a new position in shares of Wayfair during the 4th quarter valued at approximately $496,000. Renaissance Technologies LLC grew its stake in Wayfair by 17.9% in the 4th quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company’s stock valued at $169,952,000 after acquiring an additional 581,000 shares during the period. Employees Retirement System of Texas increased its holdings in Wayfair by 28.5% in the 4th quarter. Employees Retirement System of Texas now owns 35,270 shares of the company’s stock worth $15,632,000 after acquiring an additional 7,813 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in Wayfair during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Insider Buying and Selling at Wayfair

In related news, CFO Kate Gulliver sold 19,296 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $611,104.32. Following the transaction, the chief financial officer now owns 144,474 shares in the company, valued at $4,575,491.58. This trade represents a 11.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jon Blotner sold 5,669 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $42.83, for a total value of $242,803.27. Following the completion of the sale, the insider now owns 57,899 shares of the company’s stock, valued at approximately $2,479,814.17. This represents a 8.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,532 shares of company stock worth $5,090,232 over the last three months. Insiders own 23.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. BMO Capital Markets lifted their target price on shares of Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, February 21st. Royal Bank of Canada lowered their price objective on Wayfair from $50.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. reduced their target price on Wayfair from $63.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Truist Financial lowered their price target on Wayfair from $53.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus reduced their price objective on Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Fifteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $54.16.

Wayfair Trading Down 11.6 %

Shares of W opened at $26.23 on Friday. The firm’s fifty day simple moving average is $36.89 and its 200-day simple moving average is $43.64. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of -6.52 and a beta of 3.72. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $76.18.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. On average, analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Wayfair 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.