Miller Value Partners LLC lessened its holdings in Wayfair Inc (NYSE:W) by 33.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 430,095 shares of the company’s stock after selling 220,605 shares during the period. Wayfair makes up 1.9% of Miller Value Partners LLC’s holdings, making the stock its 28th biggest holding. Miller Value Partners LLC’s holdings in Wayfair were worth $51,078,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of W. Engineers Gate Manager LP acquired a new stake in Wayfair in the second quarter worth about $208,000. World Asset Management Inc acquired a new stake in Wayfair in the second quarter worth about $214,000. Peregrine Asset Advisers Inc. acquired a new stake in Wayfair in the second quarter worth about $214,000. Oppenheimer Asset Management Inc. boosted its holdings in Wayfair by 26.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,734 shares of the company’s stock worth $253,000 after acquiring an additional 772 shares in the last quarter. Finally, Comerica Bank acquired a new stake in Wayfair in the second quarter worth about $255,000. 72.44% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently commented on W. Loop Capital lifted their target price on Wayfair to $140.00 and gave the stock a “buy” rating in a report on Friday, June 29th. Bank of America lifted their target price on Wayfair from $95.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, June 27th. Robert W. Baird lifted their target price on Wayfair from $80.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, June 19th. Wells Fargo & Co began coverage on Wayfair in a report on Wednesday, September 12th. They set a “market perform” rating and a $150.00 target price for the company. Finally, Zacks Investment Research raised Wayfair from a “sell” rating to a “hold” rating in a report on Saturday, June 30th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $121.50.

In other news, insider Steve Oblak sold 3,570 shares of the business’s stock in a transaction that occurred on Thursday, June 21st. The stock was sold at an average price of $114.31, for a total value of $408,086.70. Following the completion of the sale, the insider now directly owns 119,382 shares in the company, valued at $13,646,556.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Niraj Shah sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 25th. The shares were sold at an average price of $110.59, for a total value of $442,360.00. Following the completion of the sale, the chief executive officer now owns 43,393 shares of the company’s stock, valued at $4,798,831.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 270,980 shares of company stock valued at $33,722,028. 37.75% of the stock is owned by company insiders.

Shares of W stock opened at $149.92 on Monday. The company has a debt-to-equity ratio of -2.47, a current ratio of 0.89 and a quick ratio of 0.86. The company has a market cap of $13.41 billion, a P/E ratio of -53.54 and a beta of 1.52. Wayfair Inc has a twelve month low of $55.33 and a twelve month high of $151.20.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, August 2nd. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.04). The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Wayfair had a negative net margin of 6.28% and a negative return on equity of 31,507.11%. The firm’s revenue was up 47.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.26) earnings per share. equities analysts predict that Wayfair Inc will post -5.17 earnings per share for the current year.

Wayfair Profile

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.

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Institutional Ownership by Quarter for Wayfair (NYSE:W)

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