a.k.a. Brands Holding Corp. (NYSE:AKA) Short Interest Down 10.3% in March

a.k.a. Brands Holding Corp. (NYSE:AKA) was the recipient of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 77,600 shares, a drop of 10.3% from the March 15th total of 86,500 shares. Based on an average daily volume of 7,300 shares, the days-to-cover ratio is currently 10.6 days. Approximately 8.2% of the company’s shares are short sold.

Hedge Funds Weigh In On a.k.a. Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in a.k.a. Brands by 131.0% in the 1st quarter. BlackRock Inc. now owns 1,032,023 shares of the company’s stock valued at $562,000 after acquiring an additional 585,353 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in a.k.a. Brands in the 2nd quarter valued at approximately $169,000. Goldman Sachs Group Inc. lifted its stake in a.k.a. Brands by 2,671.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 388,437 shares of the company’s stock valued at $1,717,000 after acquiring an additional 374,420 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of a.k.a. Brands by 361.5% during the 2nd quarter. Renaissance Technologies LLC now owns 444,000 shares of the company’s stock worth $191,000 after purchasing an additional 347,800 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of a.k.a. Brands by 12.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 503,376 shares of the company’s stock worth $639,000 after purchasing an additional 57,453 shares during the last quarter. Institutional investors own 55.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Truist Financial reiterated a “hold” rating and issued a $10.00 price objective (down from $12.00) on shares of a.k.a. Brands in a research report on Friday, March 8th. Telsey Advisory Group reiterated a “market perform” rating and issued a $11.00 price objective (up from $8.00) on shares of a.k.a. Brands in a research report on Monday, March 4th.

a.k.a. Brands Trading Up 6.5 %

AKA traded up $0.76 during midday trading on Wednesday, reaching $12.50. 9,946 shares of the company were exchanged, compared to its average volume of 5,164. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 0.52. a.k.a. Brands has a one year low of $3.60 and a one year high of $14.28. The stock’s 50-day simple moving average is $10.52 and its 200 day simple moving average is $9.05.

a.k.a. Brands (NYSE:AKA) last issued its earnings results on Thursday, March 7th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.85). a.k.a. Brands had a negative return on equity of 15.31% and a negative net margin of 18.10%. The company had revenue of $148.91 million for the quarter, compared to the consensus estimate of $154.41 million. As a group, equities analysts forecast that a.k.a. Brands will post -1.11 earnings per share for the current year.

a.k.a. Brands Company Profile

a.k.a. Brands Holding Corp. operates a portfolio of online fashion brands in the United States, Australia, and internationally. The company offers streetwear apparel, dresses, tops, bottoms, shoes, headwear, and accessories through its online stores under the Princess Polly, Petal & Pup, Culture Kings, and mnml brands.