MYT Netherlands Parent B.V. (NYSE:MYTE) Trading Down 2.5% – Time to Sell?

MYT Netherlands Parent B.V. (NYSE:MYTE) shares dropped 2.5% on Friday . The company traded as low as $7.00 and last traded at $7.35. Approximately 408,710 shares were traded during mid-day trading, an increase of 77% from the average daily volume of 230,894 shares. The stock had previously closed at $7.54.

MYT Netherlands Parent B.V. Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.22 and a current ratio of 1.78. The business has a 50 day simple moving average of $8.59 and a 200-day simple moving average of $8.63. The firm has a market cap of $629.89 million, a price-to-earnings ratio of -17.09 and a beta of 1.08.

Institutional Investors Weigh In On MYT Netherlands Parent B.V.

Several institutional investors have recently bought and sold shares of MYTE. Bank of America Corp DE lifted its stake in MYT Netherlands Parent B.V. by 9,153.3% during the 4th quarter. Bank of America Corp DE now owns 4,164 shares of the company’s stock valued at $30,000 after acquiring an additional 4,119 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of MYT Netherlands Parent B.V. by 49,861.8% in the first quarter. Royal Bank of Canada now owns 82,437 shares of the company’s stock valued at $623,000 after purchasing an additional 82,272 shares during the last quarter. Nixon Capital LLC bought a new position in shares of MYT Netherlands Parent B.V. during the second quarter valued at about $3,354,000. Zweig DiMenna Associates LLC purchased a new position in MYT Netherlands Parent B.V. during the second quarter worth about $3,176,000. Finally, Quadrature Capital Ltd grew its position in MYT Netherlands Parent B.V. by 38.6% in the 2nd quarter. Quadrature Capital Ltd now owns 23,186 shares of the company’s stock worth $184,000 after purchasing an additional 6,459 shares in the last quarter. Institutional investors own 10.07% of the company’s stock.

MYT Netherlands Parent B.V. Company Profile

MYT Netherlands Parent B.V., through its subsidiary, Mytheresa Group GmbH, operates a luxury e-commerce platform for fashion consumers in Germany, the United States, rest of Europe, and internationally. It offers womenswear, menswear, kids wear, and lifestyle products. The company sells clothes, bags, shoes, accessories, and fine jewelry through online and retail stores. It serves high-income luxury consumers. The company was founded in 1987 and is based in Munich, Germany.