GAMMA Investing LLC Has $31,000 Stock Position in Wayfair Inc. (NYSE:W)

GAMMA Investing LLC lifted its position in Wayfair Inc. (NYSE:W) by 65.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 710 shares of the company’s stock after buying an additional 281 shares during the quarter. GAMMA Investing LLC’s holdings in Wayfair were worth $31,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Wayfair during the third quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Wayfair during the 3rd quarter worth about $44,000. Brooklyn Investment Group purchased a new position in Wayfair during the 3rd quarter valued at about $50,000. Northwest & Ethical Investments L.P. acquired a new position in shares of Wayfair in the 3rd quarter valued at about $67,000. Finally, Quarry LP increased its holdings in shares of Wayfair by 880.0% in the 2nd quarter. Quarry LP now owns 2,548 shares of the company’s stock valued at $134,000 after purchasing an additional 2,288 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on W. Piper Sandler dropped their price target on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Citigroup dropped their price target on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Guggenheim reissued a “buy” rating and set a $70.00 price objective on shares of Wayfair in a research report on Thursday, September 26th. BMO Capital Markets reduced their price target on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Finally, Truist Financial cut their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Fourteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average price target of $60.24.

Wayfair Price Performance

NYSE:W opened at $42.81 on Wednesday. The company has a market capitalization of $5.36 billion, a P/E ratio of -9.53 and a beta of 3.43. The business has a fifty day simple moving average of $45.43 and a two-hundred day simple moving average of $47.45. Wayfair Inc. has a 1 year low of $37.35 and a 1 year high of $76.18.

Wayfair (NYSE:W) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the previous year, the business earned ($1.38) earnings per share. Wayfair’s revenue was down 2.0% on a year-over-year basis. As a group, analysts anticipate that Wayfair Inc. will post -2.91 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the completion of the transaction, the insider now directly owns 179,073 shares of the company’s stock, valued at approximately $7,576,578.63. This represents a 14.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Thomas Netzer sold 1,039 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total value of $52,625.35. Following the completion of the sale, the chief operating officer now directly owns 171,790 shares of the company’s stock, valued at $8,701,163.50. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,150 shares of company stock worth $6,250,114 over the last three months. 26.81% of the stock is owned by 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.