Polar Asset Management Partners Inc. Purchases New Shares in Wayfair Inc. (NYSE:W)

Polar Asset Management Partners Inc. purchased a new stake in shares of Wayfair Inc. (NYSE:W) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 62,600 shares of the company’s stock, valued at approximately $3,517,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Southpoint Capital Advisors LP purchased a new position in shares of Wayfair in the third quarter worth about $78,652,000. Holocene Advisors LP raised its stake in shares of Wayfair by 5,699.8% in the third quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock worth $69,393,000 after purchasing an additional 1,213,896 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after purchasing an additional 675,271 shares during the last quarter. Wolf Hill Capital Management LP raised its position in Wayfair by 22.9% during the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after acquiring an additional 432,404 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Wayfair by 35.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 974,255 shares of the company’s stock valued at $54,734,000 after acquiring an additional 253,681 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Stock Performance

Shares of NYSE W opened at $49.69 on Thursday. The stock’s 50-day moving average is $47.10 and its two-hundred day moving average is $49.43. Wayfair Inc. has a 1-year low of $37.35 and a 1-year high of $76.18.

Wayfair (NYSE:W) last released its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.38) earnings per share. Sell-side analysts expect that Wayfair Inc. will post -2.88 EPS for the current fiscal year.

Insider Activity at Wayfair

In related news, CFO Kate Gulliver sold 7,330 shares of Wayfair stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total value of $388,856.50. Following the transaction, the chief financial officer now owns 117,947 shares in the company, valued at approximately $6,257,088.35. This trade represents a 5.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Blotner sold 6,055 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.07, for a total value of $321,338.85. Following the completion of the transaction, the insider now directly owns 62,817 shares in the company, valued at $3,333,698.19. This trade represents a 8.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,868 shares of company stock valued at $3,272,548 in the last ninety days. Corporate insiders own 26.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on W. Wedbush reduced their price target on Wayfair from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. StockNews.com cut Wayfair from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft reduced their price target on Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Mizuho reduced their price target on Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Finally, Argus cut Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Company 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.