Lombard Odier Asset Management USA Corp Makes New Investment in Warby Parker Inc. (NYSE:WRBY)

Lombard Odier Asset Management USA Corp acquired a new stake in Warby Parker Inc. (NYSE:WRBY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 41,323 shares of the company’s stock, valued at approximately $664,000.

Other hedge funds also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in shares of Warby Parker by 79.9% during the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after buying an additional 2,276 shares during the period. First Eagle Investment Management LLC bought a new position in Warby Parker in the 2nd quarter valued at about $131,000. Sciencast Management LP bought a new stake in Warby Parker during the first quarter worth approximately $145,000. Principal Financial Group Inc. acquired a new stake in shares of Warby Parker in the first quarter valued at $158,000. Finally, Victory Capital Management Inc. acquired a new stake in Warby Parker in the 4th quarter valued at about $160,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Price Performance

Shares of Warby Parker stock opened at $14.28 on Monday. The firm has a fifty day moving average price of $14.85 and a two-hundred day moving average price of $14.62. The company has a market cap of $1.42 billion, a PE ratio of -30.38 and a beta of 1.80. Warby Parker Inc. has a fifty-two week low of $9.83 and a fifty-two week high of $17.95.

Warby Parker (NYSE:WRBY) last issued its earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. The firm had revenue of $188.22 million during the quarter, compared to analysts’ expectations of $186.89 million. Analysts expect that Warby Parker Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Bradley E. Singer bought 50,000 shares of Warby Parker stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $13.00 per share, for a total transaction of $650,000.00. Following the purchase, the director now owns 100,000 shares of the company’s stock, valued at $1,300,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total value of $94,005.70. Following the completion of the sale, the chief financial officer now owns 177,488 shares in the company, valued at approximately $2,467,083.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bradley E. Singer purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average cost of $13.00 per share, with a total value of $650,000.00. Following the acquisition, the director now owns 100,000 shares of the company’s stock, valued at $1,300,000. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 99,178 shares of company stock worth $1,339,901. Company insiders own 26.55% of the company’s stock.

Analyst Ratings Changes

WRBY has been the subject of a number of recent research reports. Loop Capital increased their price objective on Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, July 10th. JMP Securities upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a report on Friday, August 23rd. Piper Sandler began coverage on Warby Parker in a research note on Friday, August 23rd. They issued an “overweight” rating and a $18.00 target price on the stock. Stifel Nicolaus increased their price target on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $19.00 price objective on shares of Warby Parker in a research note on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.11.

Warby Parker Company Profile

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.