MYT Netherlands Parent B.V. (NYSE:MYTE) Sees Large Increase in Short Interest

MYT Netherlands Parent B.V. (NYSE:MYTE) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 364,500 shares, a growth of 38.2% from the February 28th total of 263,700 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 179,800 shares, the days-to-cover ratio is presently 2.0 days.

MYT Netherlands Parent B.V. Stock Performance

Shares of NYSE:MYTE opened at $7.46 on Monday. The firm has a fifty day simple moving average of $9.69 and a two-hundred day simple moving average of $7.58. MYT Netherlands Parent B.V. has a 52 week low of $3.13 and a 52 week high of $12.50. The company has a quick ratio of 0.22, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $636.08 million, a P/E ratio of -17.35 and a beta of 0.96.

MYT Netherlands Parent B.V. (NYSE:MYTE) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. On average, analysts expect that MYT Netherlands Parent B.V. will post -0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Luxor Capital Group LP lifted its holdings in shares of MYT Netherlands Parent B.V. by 94.3% in the 3rd quarter. Luxor Capital Group LP now owns 459,588 shares of the company’s stock worth $1,751,000 after acquiring an additional 223,013 shares during the last quarter. Capricorn Fund Managers Ltd bought a new stake in MYT Netherlands Parent B.V. in the fourth quarter worth about $4,225,000. Portolan Capital Management LLC boosted its position 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 buying an additional 422,942 shares during the period. DJE Kapital AG bought a new position in shares of MYT Netherlands Parent B.V. during the fourth quarter valued at approximately $15,667,000. Finally, Coronation Fund Managers Ltd. bought a new position in shares of MYT Netherlands Parent B.V. during the fourth quarter valued at approximately $124,000. 10.07% of the stock is owned by hedge funds and other institutional investors.

About MYT Netherlands Parent B.V.

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.