Hook Mill Capital Partners LP Makes New Investment in Wayfair Inc. $W

Hook Mill Capital Partners LP bought a new position in shares of Wayfair Inc. (NYSE:W) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 781,484 shares of the company’s stock, valued at approximately $39,965,000. Wayfair accounts for approximately 3.9% of Hook Mill Capital Partners LP’s investment portfolio, making the stock its 11th largest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in Wayfair by 393.4% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after buying an additional 653 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Wayfair by 229.0% during the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company’s stock valued at $81,000 after acquiring an additional 1,097 shares during the period. IFP Advisors Inc grew its position in shares of Wayfair by 49.3% during the second quarter. IFP Advisors Inc now owns 1,869 shares of the company’s stock worth $96,000 after acquiring an additional 617 shares during the last quarter. GFG Capital LLC bought a new position in shares of Wayfair during the second quarter worth about $102,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Wayfair by 12.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,462 shares of the company’s stock worth $126,000 after acquiring an additional 270 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft set a $75.00 target price on shares of Wayfair in a research report on Friday, October 24th. Argus raised their target price on Wayfair from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. boosted their price target on Wayfair from $82.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Gordon Haskett raised Wayfair from an “accumulate” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Tuesday, October 28th. Finally, Piper Sandler restated an “overweight” rating on shares of Wayfair in a research report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $105.29.

Wayfair Stock Down 2.3%

W opened at $97.26 on Friday. The firm has a market cap of $12.68 billion, a PE ratio of -37.99 and a beta of 3.25. The business has a fifty day simple moving average of $95.91 and a 200-day simple moving average of $76.73. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $114.92.

Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.26. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.01 billion. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 EPS. On average, equities research analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity

In related news, insider Steven Conine sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $105.92, for a total value of $15,888,000.00. Following the completion of the transaction, the insider owned 729,073 shares of the company’s stock, valued at approximately $77,223,412.16. This trade represents a 17.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Fiona Tan sold 6,347 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $100.54, for a total value of $638,127.38. Following the transaction, the chief technology officer directly owned 198,860 shares in the company, valued at $19,993,384.40. The trade was a 3.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 955,959 shares of company stock worth $88,260,274 over the last three months. 21.91% of the stock is owned by insiders.

Wayfair Profile

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.