Check Capital Management Inc. CA Reduces Stock Position in Wayfair Inc. (NYSE:W)

Check Capital Management Inc. CA cut its stake in Wayfair Inc. (NYSE:W) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 148,304 shares of the company’s stock after selling 9,477 shares during the period. Wayfair makes up approximately 0.3% of Check Capital Management Inc. CA’s holdings, making the stock its 13th largest holding. Check Capital Management Inc. CA owned about 0.13% of Wayfair worth $9,150,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Flynn Zito Capital Management LLC purchased a new position in Wayfair in the fourth quarter valued at about $249,000. Daiwa Securities Group Inc. grew its position in shares of Wayfair by 243.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 7,714 shares of the company’s stock valued at $476,000 after purchasing an additional 5,470 shares during the last quarter. Rothschild & Co Wealth Management UK Ltd grew its position in shares of Wayfair by 5.2% in the fourth quarter. Rothschild & Co Wealth Management UK Ltd now owns 207,533 shares of the company’s stock valued at $12,805,000 after purchasing an additional 10,266 shares during the last quarter. Ingalls & Snyder LLC grew its position in shares of Wayfair by 0.6% in the fourth quarter. Ingalls & Snyder LLC now owns 96,164 shares of the company’s stock valued at $5,933,000 after purchasing an additional 535 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Wayfair by 31.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 398,795 shares of the company’s stock valued at $24,606,000 after purchasing an additional 94,540 shares during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Trading Down 2.0 %

Shares of NYSE W traded down $1.08 during midday trading on Friday, reaching $53.66. The company’s stock had a trading volume of 3,265,537 shares, compared to its average volume of 4,274,294. The company has a 50 day moving average price of $59.42 and a 200 day moving average price of $55.17. Wayfair Inc. has a one year low of $29.51 and a one year high of $90.71. The company has a market cap of $6.46 billion, a price-to-earnings ratio of -8.39 and a beta of 3.29.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.08. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. Research analysts anticipate that Wayfair Inc. will post -3.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on W shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 price target on shares of Wayfair in a research report on Friday, February 23rd. Barclays decreased their target price on shares of Wayfair from $85.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 4th. Royal Bank of Canada raised their target price on shares of Wayfair from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Friday, February 23rd. StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Finally, Citigroup raised their target price on shares of Wayfair from $73.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Ten research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.03.

Insider Activity at Wayfair

In related news, CEO Niraj Shah sold 1,700 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $52.02, for a total transaction of $88,434.00. Following the transaction, the chief executive officer now directly owns 267,437 shares of the company’s stock, valued at $13,912,072.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Wayfair news, CFO Kate Gulliver sold 3,395 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $65.04, for a total value of $220,810.80. Following the completion of the sale, the chief financial officer now directly owns 82,560 shares of the company’s stock, valued at $5,369,702.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Niraj Shah sold 1,700 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $52.02, for a total transaction of $88,434.00. Following the completion of the sale, the chief executive officer now directly owns 267,437 shares of the company’s stock, valued at $13,912,072.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,808 shares of company stock valued at $5,445,222. Corporate insiders own 26.81% of the company’s stock.

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.