Ranger Investment Management L.P. Has $14.27 Million Holdings in Warby Parker Inc. $WRBY

Ranger Investment Management L.P. trimmed its position in Warby Parker Inc. (NYSE:WRBY) by 30.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 677,310 shares of the company’s stock after selling 294,569 shares during the period. Ranger Investment Management L.P. owned 0.63% of Warby Parker worth $14,271,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of WRBY. Udine Wealth Management Inc. bought a new stake in shares of Warby Parker during the fourth quarter worth about $1,284,000. TimesSquare Capital Management LLC raised its holdings in Warby Parker by 34.2% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,353,554 shares of the company’s stock valued at $29,494,000 after buying an additional 344,879 shares during the last quarter. Primoris Wealth Advisors LLC bought a new position in Warby Parker in the 4th quarter valued at approximately $1,781,000. Wellington Shields Capital Management LLC bought a new position in Warby Parker in the 4th quarter valued at approximately $935,000. Finally, Fortis Group Advisors LLC acquired a new stake in Warby Parker during the 4th quarter worth approximately $1,028,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WRBY. Bank of America started coverage on shares of Warby Parker in a report on Monday, June 29th. They set a “buy” rating and a $33.00 target price on the stock. BTIG Research raised their price target on shares of Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Piper Sandler reiterated an “overweight” rating on shares of Warby Parker in a report on Tuesday, May 19th. Citigroup reissued a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Finally, UBS Group increased their price objective on Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Warby Parker has an average rating of “Moderate Buy” and a consensus target price of $29.82.

Warby Parker Price Performance

Warby Parker stock opened at $25.95 on Wednesday. The stock’s 50 day moving average is $26.26 and its 200 day moving average is $25.12. Warby Parker Inc. has a one year low of $14.96 and a one year high of $31.00. The firm has a market cap of $2.78 billion, a P/E ratio of 1,298.30, a P/E/G ratio of 4.97 and a beta of 1.91.

Warby Parker (NYSE:WRBY) last released its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The firm had revenue of $242.45 million for the quarter, compared to analyst estimates of $239.44 million. Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. Equities analysts anticipate that Warby Parker Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Youngme E. Moon sold 10,000 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $26.53, for a total transaction of $265,300.00. Following the completion of the sale, the director directly owned 26,061 shares in the company, valued at $691,398.33. This represents a 27.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bradley E. Singer sold 4,833 shares of Warby Parker stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $29.01, for a total transaction of $140,205.33. Following the transaction, the director directly owned 100,000 shares of the company’s stock, valued at $2,901,000. This represents a 4.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 366,207 shares of company stock valued at $10,814,738. Company insiders own 16.80% of the company’s stock.

Warby Parker Profile

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.