III Capital Management Buys New Holdings in Wayfair Inc. (NYSE:W)

III Capital Management purchased a new position in shares of Wayfair Inc. (NYSE:W) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,600 shares of the company’s stock, valued at approximately $1,382,000.

Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of Wayfair in the 3rd quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Wayfair in the third quarter valued at about $44,000. Brooklyn Investment Group acquired a new position in shares of Wayfair during the third quarter worth about $50,000. International Assets Investment Management LLC purchased a new stake in shares of Wayfair in the second quarter worth about $58,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in shares of Wayfair in the third quarter valued at about $67,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wayfair

In other news, insider Jon Blotner sold 4,600 shares of Wayfair stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the transaction, the insider now owns 52,078 shares of the company’s stock, valued at $2,791,380.80. The trade was a 8.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the transaction, the insider now directly owns 179,073 shares in the company, valued at $7,576,578.63. This represents a 14.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,868 shares of company stock worth $3,272,548. 23.50% of the stock is owned by insiders.

Wayfair Trading Down 0.7 %

NYSE W traded down $0.35 during trading hours on Tuesday, reaching $47.73. The company’s stock had a trading volume of 247,910 shares, compared to its average volume of 4,414,343. The stock has a market cap of $5.98 billion, a PE ratio of -10.65 and a beta of 3.44. The business has a 50-day simple moving average of $47.25 and a 200 day simple moving average of $49.56. Wayfair Inc. has a 52 week low of $37.35 and a 52 week high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the business posted ($1.38) EPS. As a group, equities analysts predict that Wayfair Inc. will post -2.89 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $60.00 price target on shares of Wayfair in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Loop Capital lifted their price target on shares of Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, September 26th. Stifel Nicolaus decreased their price objective on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Finally, Truist Financial lowered their target price on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.28.

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.