Emerald Mutual Fund Advisers Trust Takes Position in Wayfair Inc. (NYSE:W)

Emerald Mutual Fund Advisers Trust purchased a new position in Wayfair Inc. (NYSE:W) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,075 shares of the company’s stock, valued at approximately $109,000.

A number of other institutional investors have also made changes to their positions in W. Riverview Trust Co acquired a new position in Wayfair during the first quarter valued at approximately $27,000. ORG Partners LLC acquired a new position in shares of Wayfair in the 1st quarter valued at $37,000. International Assets Investment Management LLC bought a new stake in shares of Wayfair in the 2nd quarter valued at $58,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Wayfair during the 4th quarter worth $74,000. Finally, Comerica Bank lifted its holdings in Wayfair by 210.9% during the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after acquiring an additional 829 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Stock Performance

Wayfair stock opened at $42.61 on Monday. The company’s 50-day moving average is $47.44 and its 200-day moving average is $55.42. Wayfair Inc. has a fifty-two week low of $38.02 and a fifty-two week high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.18 billion. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.27) earnings per share. As a group, research analysts predict that Wayfair Inc. will post -2.66 EPS for the current fiscal year.

Insider Transactions at Wayfair

In related news, CTO Fiona Tan sold 8,036 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total value of $406,943.04. Following the sale, the chief technology officer now owns 64,074 shares in the company, valued at approximately $3,244,707.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Jon Blotner sold 4,801 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $50.95, for a total transaction of $244,610.95. Following the completion of the sale, the insider now owns 53,152 shares in the company, valued at $2,708,094.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Fiona Tan sold 8,036 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total value of $406,943.04. Following the transaction, the chief technology officer now owns 64,074 shares in the company, valued at approximately $3,244,707.36. The disclosure for this sale can be found here. In the last three months, insiders sold 40,102 shares of company stock worth $2,076,659. 26.81% of the stock is owned by company insiders.

Analyst Ratings Changes

W has been the subject of several recent analyst reports. The Goldman Sachs Group lowered their price target on Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Loop Capital cut their price target on shares of Wayfair from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. Wedbush lowered their price objective on shares of Wayfair from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Gordon Haskett lowered shares of Wayfair from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Twelve research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.63.

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.