Warby Parker Inc. (NYSE:WRBY) Shares Acquired by Invenomic Capital Management LP

Invenomic Capital Management LP increased its position in shares of Warby Parker Inc. (NYSE:WRBY) by 71.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 417,256 shares of the company’s stock after purchasing an additional 173,861 shares during the period. Invenomic Capital Management LP owned 0.42% of Warby Parker worth $5,679,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WRBY. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Warby Parker during the first quarter worth $15,812,000. TimesSquare Capital Management LLC grew its stake in shares of Warby Parker by 149.4% during the first quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock worth $22,970,000 after purchasing an additional 1,011,030 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Warby Parker during the fourth quarter worth $12,034,000. Vanguard Group Inc. lifted its position in Warby Parker by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock valued at $119,258,000 after acquiring an additional 607,352 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its position in Warby Parker by 6.3% in the fourth quarter. Baillie Gifford & Co. now owns 6,430,452 shares of the company’s stock valued at $90,669,000 after acquiring an additional 378,781 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Warby Parker Price Performance

Shares of NYSE:WRBY traded down $0.04 on Tuesday, reaching $15.99. The company’s stock had a trading volume of 942,278 shares, compared to its average volume of 1,265,503. The stock’s 50-day moving average is $16.33 and its two-hundred day moving average is $14.38. Warby Parker Inc. has a 52-week low of $9.83 and a 52-week high of $17.95. The stock has a market capitalization of $1.59 billion, a P/E ratio of -34.02 and a beta of 1.82.

Warby Parker (NYSE:WRBY) last announced its earnings results on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Warby Parker had a negative net margin of 7.89% and a negative return on equity of 13.19%. The business had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $196.25 million. Equities analysts forecast that Warby Parker Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Steven Clive Miller sold 15,709 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $17.04, for a total transaction of $267,681.36. Following the completion of the transaction, the chief financial officer now directly owns 166,879 shares of the company’s stock, valued at $2,843,618.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $15.66, for a total transaction of $86,130,000.00. Following the completion of the transaction, the insider now directly owns 9,444,023 shares of the company’s stock, valued at $147,893,400.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven Clive Miller sold 15,709 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $17.04, for a total transaction of $267,681.36. Following the transaction, the chief financial officer now directly owns 166,879 shares of the company’s stock, valued at $2,843,618.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,848,537 shares of company stock valued at $91,938,722. Insiders own 26.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WRBY shares. Telsey Advisory Group reissued an “outperform” rating and issued a $19.00 price target on shares of Warby Parker in a research report on Thursday, May 9th. Morgan Stanley boosted their price target on shares of Warby Parker from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. UBS Group boosted their price target on shares of Warby Parker from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, May 10th. Finally, Loop Capital boosted their price target on shares of Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.43.

Warby Parker Profile

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.