MBL Wealth LLC Makes New $675,000 Investment in Wayfair Inc. $W

MBL Wealth LLC acquired a new stake in Wayfair Inc. (NYSE:W) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,582 shares of the company’s stock, valued at approximately $675,000.

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

Wayfair Stock Performance

Shares of NYSE W traded down $0.88 during midday trading on Friday, hitting $112.61. 1,583,564 shares of the company traded hands, compared to its average volume of 2,082,053. Wayfair Inc. has a 12-month low of $55.60 and a 12-month high of $119.98. The firm has a market cap of $14.86 billion, a P/E ratio of -45.78, a P/E/G ratio of 4.08 and a beta of 3.02. The stock has a 50-day moving average price of $103.56 and a 200 day moving average price of $88.98.

Wayfair (NYSE:W) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. Wayfair’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $0.87 earnings per share. As a group, equities analysts expect that Wayfair Inc. will post 0.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

W has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price target on Wayfair from $83.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Jefferies Financial Group reiterated a “hold” rating and issued a $108.00 price objective on shares of Wayfair in a report on Tuesday, August 4th. Benchmark initiated coverage on Wayfair in a research report on Tuesday, July 7th. They issued a “hold” rating on the stock. Robert W. Baird boosted their target price on Wayfair from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Wayfair in a report on Monday, September 14th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.14.

Insiders Place Their Bets

In other news, CEO Niraj Shah sold 117,000 shares of the 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 completion of the transaction, the chief executive officer owned 105,137 shares of the company’s stock, valued at approximately $11,696,491.25. This represents a 52.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 firm’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 transaction, the chief technology officer owned 196,698 shares of the company’s stock, valued at approximately $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. In the last quarter, insiders have sold 676,570 shares of company stock worth $72,176,934. Company insiders own 18.44% of the company’s stock.

About Wayfair

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.