Wayfair Inc (NYSE:W) Short Interest Up 8.7% in July

Wayfair Inc (NYSE:W) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 12,503,900 shares, a growth of 8.7% from the June 30th total of 11,504,100 shares. Based on an average trading volume of 1,460,000 shares, the days-to-cover ratio is currently 8.6 days. Approximately 20.8% of the company’s stock are sold short.

W stock opened at $107.34 on Friday. The company has a fifty day moving average price of $137.85 and a 200 day moving average price of $145.67. Wayfair has a 12 month low of $76.60 and a 12 month high of $173.72. The company has a market cap of $9.99 billion, a price-to-earnings ratio of -19.13 and a beta of 1.88.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, August 1st. The company reported ($1.35) EPS for the quarter, beating the consensus estimate of ($1.97) by $0.62. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter last year, the company earned ($0.77) EPS. The firm’s revenue for the quarter was up 41.6% compared to the same quarter last year. As a group, research analysts anticipate that Wayfair will post -9.36 EPS for the current year.

In related news, insider James R. Miller sold 231 shares of Wayfair stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $126.96, for a total value of $29,327.76. Following the completion of the transaction, the insider now owns 7,021 shares in the company, valued at $891,386.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edmond Macri sold 500 shares of Wayfair stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $153.48, for a total transaction of $76,740.00. Following the completion of the transaction, the insider now owns 950 shares of the company’s stock, valued at approximately $145,806. The disclosure for this sale can be found here. Insiders sold 35,944 shares of company stock valued at $5,379,784 in the last quarter. 33.86% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. CSat Investment Advisory L.P. acquired a new position in Wayfair in the 2nd quarter valued at $25,000. PNC Financial Services Group Inc. increased its stake in Wayfair by 40.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 294 shares of the company’s stock valued at $45,000 after buying an additional 84 shares during the period. Investors Research Corp acquired a new position in Wayfair in the 1st quarter valued at $52,000. Catamount Wealth Management acquired a new position in Wayfair in the 1st quarter valued at $74,000. Finally, Strs Ohio acquired a new position in Wayfair in the 1st quarter valued at $102,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Several analysts have recently weighed in on the stock. Needham & Company LLC assumed coverage on shares of Wayfair in a research report on Monday, July 1st. They set a “buy” rating and a $175.00 price objective for the company. Berenberg Bank assumed coverage on shares of Wayfair in a research report on Thursday, May 9th. They set a “sell” rating and a $121.00 price objective for the company. Wedbush reduced their price objective on shares of Wayfair from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Zacks Investment Research downgraded shares of Wayfair from a “hold” rating to a “sell” rating in a research report on Saturday, May 11th. Finally, Deutsche Bank reduced their price objective on shares of Wayfair from $175.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company. Wayfair currently has a consensus rating of “Hold” and a consensus target price of $154.49.

About Wayfair

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.

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