Clough Capital Partners L P Invests $1.57 Million in Warby Parker Inc. $WRBY

Clough Capital Partners L P purchased a new position in Warby Parker Inc. (NYSE:WRBY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 71,827 shares of the company’s stock, valued at approximately $1,565,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WRBY. First Horizon Corp lifted its position in shares of Warby Parker by 96.7% in the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after purchasing an additional 595 shares during the period. Eagle Bay Advisors LLC acquired a new position in shares of Warby Parker in the 4th quarter worth approximately $35,000. Farther Finance Advisors LLC lifted its position in shares of Warby Parker by 41.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock worth $37,000 after purchasing an additional 494 shares during the period. Covestor Ltd lifted its position in shares of Warby Parker by 5,795.3% in the 4th quarter. Covestor Ltd now owns 2,535 shares of the company’s stock worth $55,000 after purchasing an additional 2,492 shares during the period. Finally, NewEdge Advisors LLC lifted its position in shares of Warby Parker by 56.7% in the 3rd quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after purchasing an additional 850 shares during the period. Institutional investors and hedge funds own 93.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WRBY shares. Piper Sandler restated an “overweight” rating on shares of Warby Parker in a research report on Tuesday, May 19th. Telsey Advisory Group lifted their price objective on shares of Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Citigroup reiterated a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Weiss Ratings upgraded shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, UBS Group lifted their price objective on shares of Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

Warby Parker Stock Down 3.3%

NYSE:WRBY opened at $24.31 on Thursday. The company has a fifty day moving average of $24.59 and a 200-day moving average of $24.45. The firm has a market capitalization of $2.60 billion, a P/E ratio of 1,215.91 and a beta of 1.96. Warby Parker Inc. has a twelve month low of $14.96 and a twelve month high of $31.00.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.08). The company had revenue of $242.45 million during the quarter, compared to the consensus estimate of $239.44 million. Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 EPS. On average, analysts anticipate that Warby Parker Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, Director Bradley E. Singer sold 4,833 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $29.01, for a total transaction of $140,205.33. Following the completion of the sale, the director owned 100,000 shares in the company, valued at approximately $2,901,000. The trade was a 4.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Neil Harris Blumenthal sold 63,040 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $30.03, for a total transaction of $1,893,091.20. Following the sale, the chief executive officer owned 50,165 shares of the company’s stock, valued at $1,506,454.95. This trade represents a 55.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 198,040 shares of company stock worth $5,340,326. 16.80% of the stock is owned by corporate insiders.

About Warby Parker

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.