Granite Point Capital Management L.P. Has $1,879,000 Stake in Wix.com Ltd. (WIX)
Granite Point Capital Management L.P. held its stake in Wix.com Ltd. (NASDAQ:WIX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,000 shares of the information services provider’s stock at the close of the 2nd quarter. Granite Point Capital Management L.P. owned approximately 0.06% of Wix.com worth $1,879,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Westpac Banking Corp purchased a new stake in Wix.com in the 1st quarter worth $137,000. Eqis Capital Management Inc. purchased a new position in shares of Wix.com during the second quarter valued at about $207,000. Group One Trading L.P. purchased a new position in shares of Wix.com during the first quarter valued at about $228,000. Legal & General Group Plc grew its position in shares of Wix.com by 500.0% during the first quarter. Legal & General Group Plc now owns 3,600 shares of the information services provider’s stock valued at $245,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Caxton Associates LP purchased a new position in shares of Wix.com during the first quarter valued at about $265,000. Institutional investors and hedge funds own 70.03% of the company’s stock.
A number of research analysts have recently weighed in on WIX shares. BidaskClub lowered Wix.com from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Barclays PLC restated a “buy” rating and set a $77.00 price objective on shares of Wix.com in a research report on Wednesday, August 2nd. Zacks Investment Research lowered Wix.com from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Jefferies Group LLC started coverage on Wix.com in a research report on Thursday, August 24th. They set a “buy” rating and a $74.00 price objective for the company. Finally, SunTrust Banks, Inc. started coverage on Wix.com in a research report on Tuesday, August 15th. They set a “buy” rating and a $73.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $73.30.
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Wix.com Ltd. (WIX) traded down 0.80% on Wednesday, reaching $67.80. The company had a trading volume of 274,256 shares. Wix.com Ltd. has a 1-year low of $38.65 and a 1-year high of $86.15. The company’s 50-day moving average price is $63.14 and its 200 day moving average price is $69.84. The firm’s market capitalization is $3.08 billion.
Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Thursday, July 27th. The information services provider reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.16). The company had revenue of $103.50 million for the quarter, compared to the consensus estimate of $101.93 million. During the same period in the previous year, the company posted ($0.09) earnings per share. The company’s quarterly revenue was up 50.7% compared to the same quarter last year. On average, equities analysts forecast that Wix.com Ltd. will post $0.24 EPS for the current year.
Wix.com Ltd. (Wix) is a Web development platform enabling businesses and organizations to take businesses, brands and workflow online. The Company provides solutions that business owners can use to operate various aspects of their business online, such as selling goods, taking reservations, and scheduling and confirming appointments.
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