Wayfair Inc. (NYSE:W) Shares Bought by Wolf Hill Capital Management LP

Wolf Hill Capital Management LP lifted its stake in shares of Wayfair Inc. (NYSE:W) by 22.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,322,906 shares of the company’s stock after acquiring an additional 432,404 shares during the quarter. Wayfair comprises approximately 12.2% of Wolf Hill Capital Management LP’s holdings, making the stock its 2nd largest position. Wolf Hill Capital Management LP owned about 1.93% of Wayfair worth $122,487,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in W. Vanguard Group Inc. lifted its position in Wayfair by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after acquiring an additional 363,948 shares during the last quarter. SageView Advisory Group LLC bought a new position in shares of Wayfair in the first quarter worth about $937,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Wayfair by 250.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock worth $11,347,000 after purchasing an additional 119,415 shares during the last quarter. Sei Investments Co. boosted its stake in Wayfair by 14.6% during the 1st quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock valued at $6,818,000 after purchasing an additional 12,809 shares during the period. Finally, Highland Peak Capital LLC acquired a new stake in Wayfair in the 2nd quarter valued at approximately $5,165,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Price Performance

NYSE W opened at $52.90 on Friday. The stock’s 50 day simple moving average is $46.48 and its 200 day simple moving average is $54.87. Wayfair Inc. has a one year low of $38.02 and a one year high of $76.18. The firm has a market cap of $6.37 billion, a PE ratio of -9.87 and a beta of 3.40.

Wayfair (NYSE:W) last announced its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.27) EPS. As a group, equities analysts expect that Wayfair Inc. will post -2.66 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on W. Gordon Haskett lowered Wayfair from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. The Goldman Sachs Group reduced their price target on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Loop Capital reduced their target price on shares of Wayfair from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Friday, June 21st. Finally, Wedbush decreased their target price on Wayfair from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Twelve equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.63.

Insider Buying and Selling at Wayfair

In other news, CEO Niraj Shah sold 10,000 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $52.62, for a total transaction of $526,200.00. Following the sale, the chief executive officer now directly owns 209,137 shares of the company’s stock, valued at $11,004,788.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Niraj Shah sold 10,000 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $52.62, for a total transaction of $526,200.00. Following the completion of the sale, the chief executive officer now owns 209,137 shares in the company, valued at $11,004,788.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kate Gulliver sold 5,825 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $50.82, for a total value of $296,026.50. Following the completion of the transaction, the chief financial officer now owns 100,933 shares in the company, valued at approximately $5,129,415.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,113 shares of company stock worth $2,126,623. 26.81% of the stock is currently owned by corporate insiders.

About Wayfair

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.