Natuzzi (NYSE:NTZ) Issues Earnings Results

Natuzzi (NYSE:NTZ) announced its earnings results on Friday. The company reported ($1.55) earnings per share for the quarter, reports. The firm had revenue of $90.93 million during the quarter. Natuzzi had a negative net margin of 6.12% and a negative return on equity of 38.57%.

Natuzzi Trading Up 0.7%

Shares of NYSE NTZ opened at $2.76 on Friday. The company has a 50-day simple moving average of $2.99 and a 200-day simple moving average of $2.89. Natuzzi has a 12 month low of $2.15 and a 12 month high of $4.46.

Institutional Trading of Natuzzi

A number of hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC acquired a new position in Natuzzi in the 3rd quarter valued at $36,000. Benjamin Edwards Inc. grew its position in shares of Natuzzi by 27.5% in the second quarter. Benjamin Edwards Inc. now owns 178,000 shares of the company’s stock valued at $648,000 after purchasing an additional 38,350 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Natuzzi in the first quarter valued at $1,817,000. Finally, Kanen Wealth Management LLC increased its stake in Natuzzi by 5.8% in the first quarter. Kanen Wealth Management LLC now owns 1,763,136 shares of the company’s stock valued at $8,657,000 after purchasing an additional 96,890 shares during the last quarter. Institutional investors and hedge funds own 6.07% of the company’s stock.

About Natuzzi

Natuzzi S.p.A. is a global design and manufacturing company specializing in high-quality upholstered furniture. The company’s product portfolio includes leather and fabric sofas, armchairs, recliners, sectional systems and complementary home furnishings such as coffee tables, beds and accessories. Natuzzi markets its offerings under two primary brands—Natuzzi Italia, which focuses on contemporary Italian design, and Natuzzi Editions, which provides a broader range of styles at accessible price points.

Founded in 1959 by Pasquale Natuzzi in Santeramo in Colle, Italy, the company began as a small artisan workshop and has grown into the world’s largest producer of leather upholstered furniture.