Connor Clark & Lunn Investment Management Ltd. Buys New Position in Wayfair Inc (W)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Wayfair Inc (NYSE:W) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,900 shares of the company’s stock, valued at approximately $1,162,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in W. Nomura Asset Management Co. Ltd. bought a new stake in shares of Wayfair during the 4th quarter worth $716,000. Great West Life Assurance Co. Can lifted its position in shares of Wayfair by 111.1% during the 4th quarter. Great West Life Assurance Co. Can now owns 12,616 shares of the company’s stock worth $1,082,000 after buying an additional 6,639 shares during the last quarter. Northern Trust Corp lifted its position in shares of Wayfair by 22.0% during the 4th quarter. Northern Trust Corp now owns 354,139 shares of the company’s stock worth $31,901,000 after buying an additional 63,796 shares during the last quarter. Standard Life Aberdeen plc bought a new stake in shares of Wayfair during the 4th quarter worth $275,000. Finally, Freestone Capital Holdings LLC bought a new stake in shares of Wayfair during the 4th quarter worth $215,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

In related news, insider Edmond Macri sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 9th. The stock was sold at an average price of $100.00, for a total transaction of $100,000.00. Following the completion of the sale, the insider now owns 500 shares of the company’s stock, valued at $50,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steve Oblak sold 153 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $167.88, for a total value of $25,685.64. The disclosure for this sale can be found here. In the last three months, insiders sold 197,423 shares of company stock valued at $26,572,689. Insiders own 37.75% of the company’s stock.

Several equities analysts have commented on the company. Zacks Investment Research downgraded Wayfair from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Cowen increased their target price on Wayfair from $120.00 to $130.00 and gave the company a “positive” rating in a research report on Friday, December 7th. Piper Jaffray Companies set a $87.00 target price on Wayfair and gave the company a “buy” rating in a research report on Thursday, December 20th. Buckingham Research increased their target price on Wayfair from $130.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, February 25th. Finally, Citigroup assumed coverage on Wayfair in a research report on Friday, December 7th. They issued a “neutral” rating and a $117.00 target price for the company. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $141.99.

Shares of W stock opened at $166.01 on Friday. The stock has a market capitalization of $15.00 billion, a PE ratio of -29.59 and a beta of 2.06. Wayfair Inc has a 1-year low of $60.53 and a 1-year high of $172.79.

Wayfair (NYSE:W) last issued its quarterly earnings results on Friday, February 22nd. The company reported ($1.12) earnings per share for the quarter, beating the consensus estimate of ($1.80) by $0.68. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.97 billion. The company’s quarterly revenue was up 40.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.58) EPS. Sell-side analysts expect that Wayfair Inc will post -7.82 EPS for the current year.

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Wayfair Company Profile

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.

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Institutional Ownership by Quarter for Wayfair (NYSE:W)

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