1,449,820 Shares in Wix.com Ltd. $WIX Acquired by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. purchased a new position in Wix.com Ltd. (NASDAQ:WIX) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,449,820 shares of the information services provider’s stock, valued at approximately $150,622,000.

Other hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC increased its position in Wix.com by 77.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,441 shares of the information services provider’s stock valued at $150,000 after acquiring an additional 629 shares during the period. Leonteq Securities AG acquired a new position in shares of Wix.com during the 4th quarter valued at $456,000. Banque Cantonale Vaudoise increased its position in shares of Wix.com by 464.8% during the 4th quarter. Banque Cantonale Vaudoise now owns 497 shares of the information services provider’s stock valued at $52,000 after purchasing an additional 409 shares during the period. HighTower Advisors LLC increased its position in shares of Wix.com by 140.3% during the 4th quarter. HighTower Advisors LLC now owns 2,881 shares of the information services provider’s stock valued at $299,000 after purchasing an additional 1,682 shares during the period. Finally, Auxano Advisors LLC acquired a new position in shares of Wix.com in the 4th quarter worth $222,000. Institutional investors own 81.52% of the company’s stock.

Wix.com Trading Up 0.8%

Shares of WIX stock opened at $55.24 on Friday. Wix.com Ltd. has a 1-year low of $51.60 and a 1-year high of $190.93. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -70.82, a P/E/G ratio of 2.28 and a beta of 1.01. The stock’s fifty day simple moving average is $76.52 and its 200-day simple moving average is $88.58.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.53). Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. The business had revenue of $541.17 million for the quarter, compared to analysts’ expectations of $544.04 million. During the same quarter in the prior year, the firm posted $1.69 EPS. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, sell-side analysts predict that Wix.com Ltd. will post 1.52 EPS for the current year.

Wix.com declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 28th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information services provider to buy up to 40.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WIX shares. Wall Street Zen cut Wix.com from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Royal Bank Of Canada cut Wix.com from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $90.00 to $60.00 in a report on Thursday, May 14th. Zacks Research upgraded Wix.com from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Raymond James Financial restated a “strong-buy” rating and issued a $100.00 target price on shares of Wix.com in a report on Wednesday, March 4th. Finally, Cantor Fitzgerald decreased their target price on Wix.com from $110.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.90.

Wix.com Company Profile

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.