Mane Global Capital Management LP Makes New Investment in Wayfair Inc. $W

Mane Global Capital Management LP purchased a new stake in shares of Wayfair Inc. (NYSE:W) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 343,272 shares of the company’s stock, valued at approximately $17,555,000.

Several other large investors have also recently modified their holdings of the stock. Alyeska Investment Group L.P. grew its position in Wayfair by 681.8% during the 1st quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock valued at $174,969,000 after purchasing an additional 4,763,944 shares during the last quarter. Southpoint Capital Advisors LP raised its holdings in Wayfair by 42.9% in the first quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock worth $128,120,000 after buying an additional 1,200,000 shares during the last quarter. Norges Bank bought a new position in shares of Wayfair in the second quarter worth approximately $33,708,000. Beck Bode LLC purchased a new stake in shares of Wayfair during the first quarter valued at approximately $13,322,000. Finally, MetLife Investment Management LLC grew its holdings in shares of Wayfair by 18,338.6% during the first quarter. MetLife Investment Management LLC now owns 308,478 shares of the company’s stock valued at $9,881,000 after buying an additional 306,805 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Insider Buying and Selling at Wayfair

In other news, insider Steven Conine sold 150,000 shares of the 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 transaction, the insider owned 729,073 shares in the company, valued at $77,223,412.16. This represents a 17.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kate Gulliver sold 9,612 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $102.20, for a total transaction of $982,346.40. Following the completion of the transaction, the chief financial officer directly owned 175,497 shares in the company, valued at approximately $17,935,793.40. The trade was a 5.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 955,959 shares of company stock worth $88,260,274 over the last 90 days. 21.91% of the stock is owned by company insiders.

Wayfair Price Performance

W stock opened at $93.36 on Thursday. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $114.92. The company has a market cap of $12.17 billion, a P/E ratio of -36.47 and a beta of 3.25. The stock’s fifty day moving average price is $95.47 and its 200-day moving average price is $76.14.

Wayfair (NYSE:W) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.26. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.01 billion. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS. As a group, analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on W shares. Evercore ISI boosted their price objective on shares of Wayfair from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. 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 note on Monday, October 27th. BMO Capital Markets set a $110.00 price target on Wayfair and gave the company a “market perform” rating in a report on Wednesday, October 29th. Gordon Haskett upgraded Wayfair from an “accumulate” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Tuesday, October 28th. Finally, Citigroup boosted their target price on Wayfair from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Two investment 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.29.

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.