Marex Group plc Makes New Investment in Wayfair Inc. $W

Marex Group plc purchased a new stake in shares of Wayfair Inc. (NYSE:W) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 12,746 shares of the company’s stock, valued at approximately $652,000.

Several other large investors have also recently modified their holdings of the stock. Alyeska Investment Group L.P. boosted its stake in Wayfair by 681.8% in the 1st quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock worth $174,969,000 after purchasing an additional 4,763,944 shares in the last quarter. Southpoint Capital Advisors LP raised its holdings in Wayfair by 42.9% in the first quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock worth $128,120,000 after buying an additional 1,200,000 shares during the last quarter. Spruce House Investment Management LLC lifted its stake in shares of Wayfair by 37.6% in the second quarter. Spruce House Investment Management LLC now owns 3,000,000 shares of the company’s stock worth $153,420,000 after buying an additional 819,615 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Wayfair by 3.7% during the second quarter. Geode Capital Management LLC now owns 1,661,496 shares of the company’s stock valued at $84,985,000 after buying an additional 59,083 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Wayfair by 197.3% during the second quarter. AQR Capital Management LLC now owns 1,557,937 shares of the company’s stock valued at $79,673,000 after acquiring an additional 1,033,865 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on W. Wall Street Zen cut Wayfair from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Mizuho boosted their price target on Wayfair from $88.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Jefferies Financial Group cut Wayfair from a “buy” rating to a “hold” rating and set a $94.00 price objective on the stock. in a research report on Wednesday, December 3rd. Cowen reiterated a “hold” rating on shares of Wayfair in a report on Wednesday, October 29th. Finally, Gordon Haskett upgraded shares of Wayfair from an “accumulate” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Tuesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $105.29.

Wayfair Price Performance

Shares of W opened at $97.26 on Monday. The firm has a market capitalization of $12.68 billion, a P/E ratio of -37.99 and a beta of 3.25. Wayfair Inc. has a one year low of $20.41 and a one year high of $114.92. The business has a fifty day moving average of $95.91 and a 200 day moving average of $77.22.

Wayfair (NYSE:W) last announced its earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.26. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.01 billion. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 earnings per share. Analysts expect that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other Wayfair news, insider Steven Conine sold 150,000 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $105.92, for a total value of $15,888,000.00. Following the transaction, the insider directly owned 729,073 shares in the company, valued at approximately $77,223,412.16. This trade represents a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Niraj Shah sold 150,000 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $105.91, for a total transaction of $15,886,500.00. Following the sale, the chief executive officer directly owned 729,137 shares of the company’s stock, valued at approximately $77,222,899.67. The trade was a 17.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 955,959 shares of company stock worth $88,260,274. 21.91% of the stock is currently owned by insiders.

Wayfair Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.