Canada Pension Plan Investment Board acquired a new stake in MYT Netherlands Parent B.V. (NYSE:MYTE) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,817,522 shares of the company’s stock, valued at approximately $390,483,000. Canada Pension Plan Investment Board owned 0.16% of MYT Netherlands Parent B.V. as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Zimmer Partners LP purchased a new position in MYT Netherlands Parent B.V. during the first quarter valued at approximately $565,000. Grandeur Peak Global Advisors LLC purchased a new stake in MYT Netherlands Parent B.V. in the 1st quarter worth approximately $460,000. Morgan Stanley acquired a new stake in shares of MYT Netherlands Parent B.V. during the 1st quarter worth approximately $428,000. Sandler Capital Management purchased a new position in shares of MYT Netherlands Parent B.V. during the 1st quarter valued at approximately $4,461,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of MYT Netherlands Parent B.V. in the 1st quarter valued at $2,826,000. Hedge funds and other institutional investors own 49.86% of the company’s stock.
Shares of NYSE MYTE traded down $0.24 during midday trading on Thursday, hitting $29.56. The stock had a trading volume of 2,875 shares, compared to its average volume of 241,834. The company’s 50 day simple moving average is $30.62. MYT Netherlands Parent B.V. has a 1 year low of $24.94 and a 1 year high of $36.25. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.65 and a quick ratio of 0.92.
A number of brokerages have weighed in on MYTE. Zacks Investment Research downgraded shares of MYT Netherlands Parent B.V. from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on MYT Netherlands Parent B.V. from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Monday, May 24th. Finally, Morgan Stanley boosted their price objective on MYT Netherlands Parent B.V. from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, May 19th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $38.14.
About MYT Netherlands Parent B.V.
MYT Netherlands Parent B.V., through its subsidiary, Mytheresa Group GmbH, operates a luxury e-commerce platform for the fashion consumers worldwide. The company sells clothes, bags, shoes, accessories, and fine jewelry through online operations and retail stores. It serves high income luxury consumers.
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