Wolf Hill Capital Management LP Boosts Holdings in Wayfair Inc. $W

Wolf Hill Capital Management LP grew its stake in shares of Wayfair Inc. (NYSE:W) by 98.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 783,600 shares of the company’s stock after buying an additional 388,160 shares during the period. Wayfair makes up 6.4% of Wolf Hill Capital Management LP’s investment portfolio, making the stock its 5th biggest holding. Wolf Hill Capital Management LP’s holdings in Wayfair were worth $69,999,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Cornerstone Planning Group LLC grew its position in Wayfair by 28,200.0% during the third quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 282 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Wayfair by 250.5% in the 3rd quarter. True Wealth Design LLC now owns 326 shares of the company’s stock worth $29,000 after acquiring an additional 233 shares during the period. Global Retirement Partners LLC lifted its position in shares of Wayfair by 156.3% in the 3rd quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Wayfair by 393.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after acquiring an additional 653 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Wayfair during the 3rd quarter worth approximately $71,000. Institutional investors own 89.67% of the company’s stock.

Wayfair Price Performance

Shares of Wayfair stock traded up $2.52 during midday trading on Friday, hitting $76.26. 783,897 shares of the company were exchanged, compared to its average volume of 3,707,584. The firm has a 50 day simple moving average of $94.64 and a 200-day simple moving average of $93.43. The firm has a market cap of $9.97 billion, a P/E ratio of -31.41, a PEG ratio of 5.56 and a beta of 3.40. Wayfair Inc. has a 52 week low of $20.41 and a 52 week high of $119.98.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on W. Guggenheim upped their target price on Wayfair from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. JPMorgan Chase & Co. decreased their price target on shares of Wayfair from $114.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Evercore set a $100.00 price target on shares of Wayfair in a report on Friday, February 20th. Robert W. Baird dropped their price objective on shares of Wayfair from $98.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $125.00 price objective on shares of Wayfair in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and an average target price of $104.62.

Insiders Place Their Bets

In other Wayfair news, insider Steven Conine sold 150,000 shares of Wayfair stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $108.87, for a total transaction of $16,330,500.00. Following the completion of the transaction, the insider directly owned 289,073 shares of the company’s stock, valued at approximately $31,471,377.51. This trade represents a 34.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kate Gulliver sold 36,497 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $106.50, for a total transaction of $3,886,930.50. Following the completion of the sale, the chief financial officer owned 149,238 shares in the company, valued at $15,893,847. This represents a 19.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 890,494 shares of company stock worth $86,493,261 over the last three months. 21.91% of the stock is currently owned by corporate insiders.

About Wayfair

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.