MYT Netherlands Parent B.V. (NYSE:MYTE) Trading Down 2.6% – Should You Sell?

MYT Netherlands Parent B.V. (NYSE:MYTE) shares dropped 2.6% during mid-day trading on Wednesday . The company traded as low as $7.87 and last traded at $8.06. Approximately 15,361 shares were traded during trading, a decline of 92% from the average daily volume of 193,059 shares. The stock had previously closed at $8.27.

Analyst Ratings Changes

Separately, TD Cowen upgraded MYT Netherlands Parent B.V. from a “hold” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $14.00 in a research report on Monday, March 3rd.

MYT Netherlands Parent B.V. Stock Down 0.2 %

The business has a 50-day simple moving average of $9.69 and a two-hundred day simple moving average of $7.36. The stock has a market capitalization of $703.44 million, a P/E ratio of -19.19 and a beta of 0.96. The company has a quick ratio of 0.22, a current ratio of 1.78 and a debt-to-equity ratio of 0.09.

MYT Netherlands Parent B.V. (NYSE:MYTE) last announced its earnings results on Tuesday, February 11th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.10. MYT Netherlands Parent B.V. had a negative return on equity of 5.88% and a negative net margin of 3.98%. Equities research analysts forecast that MYT Netherlands Parent B.V. will post -0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MYT Netherlands Parent B.V.

Several large investors have recently made changes to their positions in MYTE. Portolan Capital Management LLC lifted its stake in shares of MYT Netherlands Parent B.V. by 30.6% during the third quarter. Portolan Capital Management LLC now owns 1,805,758 shares of the company’s stock valued at $6,880,000 after acquiring an additional 422,942 shares during the period. Luxor Capital Group LP lifted its stake in MYT Netherlands Parent B.V. by 94.3% in the third quarter. Luxor Capital Group LP now owns 459,588 shares of the company’s stock valued at $1,751,000 after buying an additional 223,013 shares during the period. Capricorn Fund Managers Ltd acquired a new position in MYT Netherlands Parent B.V. in the fourth quarter valued at about $4,225,000. Coronation Fund Managers Ltd. acquired a new position in MYT Netherlands Parent B.V. in the fourth quarter valued at about $124,000. Finally, DJE Kapital AG acquired a new position in MYT Netherlands Parent B.V. in the fourth quarter valued at about $15,667,000. Institutional investors and hedge funds own 10.07% of the company’s stock.

MYT Netherlands Parent B.V. Company Profile

MYT Netherlands Parent B.V., through its subsidiary, Mytheresa Group GmbH, operates a luxury e-commerce platform for fashion consumers in Germany, the United States, rest of Europe, and internationally. It offers womenswear, menswear, kids wear, and lifestyle products. The company sells clothes, bags, shoes, accessories, and fine jewelry through online and retail stores.