Bamco Inc. NY Has $400.96 Million Stake in FIGS, Inc. $FIGS

Bamco Inc. NY lowered its stake in shares of FIGS, Inc. (NYSE:FIGS) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,934,448 shares of the company’s stock after selling 39,959 shares during the period. FIGS makes up 1.1% of Bamco Inc. NY’s portfolio, making the stock its 17th biggest position. Bamco Inc. NY owned approximately 36.43% of FIGS worth $400,961,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of FIGS. Assetmark Inc. acquired a new stake in shares of FIGS in the 3rd quarter valued at approximately $35,000. Boothbay Fund Management LLC acquired a new position in FIGS during the third quarter valued at approximately $72,000. Hudson Bay Capital Management LP acquired a new position in FIGS during the second quarter valued at approximately $61,000. Walleye Capital LLC bought a new stake in FIGS in the second quarter valued at approximately $65,000. Finally, Prudential Financial Inc. acquired a new stake in FIGS in the second quarter worth $70,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at FIGS

In other news, CEO Catherine Eva Spear sold 49,734 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $11.38, for a total transaction of $565,972.92. Following the completion of the transaction, the chief executive officer directly owned 1,857,299 shares of the company’s stock, valued at $21,136,062.62. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sarah Oughtred sold 22,690 shares of FIGS stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $10.56, for a total value of $239,606.40. Following the completion of the sale, the chief financial officer directly owned 821,500 shares in the company, valued at approximately $8,675,040. This represents a 2.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 662,140 shares of company stock valued at $10,542,161 over the last three months. Company insiders own 29.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Telsey Advisory Group lifted their price target on shares of FIGS to $17.00 and gave the stock a “market perform” rating in a research report on Thursday. Weiss Ratings restated a “hold (c-)” rating on shares of FIGS in a research report on Monday, December 29th. BTIG Research reaffirmed a “buy” rating and set a $15.00 price objective on shares of FIGS in a research note on Friday, February 27th. The Goldman Sachs Group upgraded FIGS from a “strong sell” rating to a “hold” rating in a report on Friday, February 27th. Finally, Barclays upgraded FIGS from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.58.

FIGS Stock Down 0.9%

FIGS stock opened at $14.87 on Friday. The company has a 50 day moving average of $12.29 and a 200-day moving average of $10.01. FIGS, Inc. has a twelve month low of $3.57 and a twelve month high of $17.48. The stock has a market capitalization of $2.45 billion, a PE ratio of 78.25 and a beta of 1.22.

FIGS (NYSE:FIGS) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.02 by $0.08. The business had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $165.33 million. FIGS had a net margin of 5.43% and a return on equity of 8.41%. The firm’s revenue was up 33.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. Equities analysts anticipate that FIGS, Inc. will post 0.01 EPS for the current fiscal year.

About FIGS

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.