Levin Capital Strategies L.P. Makes New $141,000 Investment in Warby Parker Inc. (NYSE:WRBY)

Levin Capital Strategies L.P. purchased a new position in shares of Warby Parker Inc. (NYSE:WRBY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,000 shares of the company’s stock, valued at approximately $141,000.

Several other hedge funds have also recently added to or reduced their stakes in WRBY. Polen Capital Management LLC increased its position in Warby Parker by 12.5% during the third quarter. Polen Capital Management LLC now owns 369,840 shares of the company’s stock worth $4,867,000 after buying an additional 40,982 shares in the last quarter. AIA Group Ltd boosted its stake in Warby Parker by 49.8% during the 4th quarter. AIA Group Ltd now owns 164,861 shares of the company’s stock valued at $2,325,000 after purchasing an additional 54,839 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Warby Parker by 2.9% during the third quarter. Vanguard Group Inc. now owns 7,850,634 shares of the company’s stock worth $103,314,000 after buying an additional 219,160 shares in the last quarter. Rock Springs Capital Management LP increased its holdings in shares of Warby Parker by 18.9% in the third quarter. Rock Springs Capital Management LP now owns 1,575,000 shares of the company’s stock valued at $20,727,000 after buying an additional 250,000 shares in the last quarter. Finally, CenterBook Partners LP purchased a new stake in Warby Parker in the 3rd quarter worth about $2,430,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on WRBY. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $19.00 price objective on shares of Warby Parker in a research note on Wednesday, February 28th. Morgan Stanley increased their price objective on Warby Parker from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.29.

Insiders Place Their Bets

In related news, CEO David Abraham Gilboa sold 28,311 shares of Warby Parker stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $11.88, for a total transaction of $336,334.68. Following the transaction, the chief executive officer now owns 12,306 shares of the company’s stock, valued at approximately $146,195.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Warby Parker news, CFO Steven Clive Miller sold 8,708 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $11.88, for a total transaction of $103,451.04. Following the sale, the chief financial officer now directly owns 191,104 shares in the company, valued at $2,270,315.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Abraham Gilboa sold 28,311 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $11.88, for a total transaction of $336,334.68. Following the completion of the transaction, the chief executive officer now owns 12,306 shares of the company’s stock, valued at $146,195.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,084 shares of company stock worth $1,074,979. Insiders own 26.91% of the company’s stock.

Warby Parker Price Performance

Shares of NYSE:WRBY traded up $0.38 during midday trading on Friday, reaching $12.68. The company’s stock had a trading volume of 938,606 shares, compared to its average volume of 1,194,915. The business’s fifty day simple moving average is $12.75 and its 200-day simple moving average is $12.81. The company has a market capitalization of $1.26 billion, a P/E ratio of -22.78 and a beta of 1.64. Warby Parker Inc. has a fifty-two week low of $9.83 and a fifty-two week high of $16.49.

Warby Parker (NYSE:WRBY) last released its earnings results on Wednesday, February 28th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). Warby Parker had a negative net margin of 9.44% and a negative return on equity of 16.36%. The business had revenue of $161.86 million for the quarter, compared to analyst estimates of $161.01 million. On average, analysts forecast that Warby Parker Inc. will post -0.13 earnings per share for the current fiscal year.

Warby Parker Company 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.