MBL Wealth LLC Buys New Position in Wayfair Inc. $W

MBL Wealth LLC purchased a new position in Wayfair Inc. (NYSE:W) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,582 shares of the company’s stock, valued at approximately $675,000.

Other institutional investors have also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Wayfair during the 2nd quarter worth $2,001,000. Baird Financial Group Inc. bought a new position in Wayfair in the second quarter valued at $16,362,000. WINTON GROUP Ltd bought a new position in Wayfair in the second quarter valued at $3,207,000. Assenagon Asset Management S.A. increased its stake in Wayfair by 42.2% in the second quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock valued at $75,654,000 after acquiring an additional 242,791 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Wayfair during the second quarter valued at about $2,874,000. Institutional investors own 89.67% of the company’s stock.

Wayfair Price Performance

Wayfair stock traded down $0.88 during mid-day trading on Friday, hitting $112.61. The company’s stock had a trading volume of 1,583,564 shares, compared to its average volume of 2,082,053. The stock has a market cap of $14.86 billion, a price-to-earnings ratio of -45.78, a price-to-earnings-growth ratio of 4.08 and a beta of 3.02. The business has a 50 day moving average price of $103.56 and a 200-day moving average price of $88.98. Wayfair Inc. has a 12 month low of $55.60 and a 12 month high of $119.98.

Wayfair (NYSE:W) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $0.87 earnings per share. On average, equities research analysts expect that Wayfair Inc. will post 0.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Wayfair news, Director Steven Conine sold 117,000 shares of Wayfair stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $111.25, for a total value of $13,016,250.00. Following the transaction, the director directly owned 105,073 shares of the company’s stock, valued at $11,689,371.25. The trade was a 52.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Fiona Tan sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $115.00, for a total value of $920,000.00. Following the completion of the sale, the chief technology officer owned 196,698 shares of the company’s stock, valued at $22,620,270. The trade was a 3.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 676,570 shares of company stock valued at $72,176,934. 18.44% of the stock is owned by insiders.

Analysts Set New Price Targets

W has been the subject of several research analyst reports. Benchmark began coverage on Wayfair in a research note on Tuesday, July 7th. They set a “hold” rating for the company. Wedbush upped their price objective on Wayfair from $85.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. increased their price objective on Wayfair from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. BMO Capital Markets raised their price objective on Wayfair from $105.00 to $115.00 and gave the company a “market perform” rating in a report on Wednesday, August 5th. Finally, Robert W. Baird boosted their target price on Wayfair from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $121.14.

Wayfair Profile

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.