Ranger Investment Management L.P. Buys New Position in Warby Parker Inc. $WRBY

Ranger Investment Management L.P. bought a new position in shares of Warby Parker Inc. (NYSE:WRBY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,020,064 shares of the company’s stock, valued at approximately $30,949,000. Warby Parker accounts for about 2.0% of Ranger Investment Management L.P.’s investment portfolio, making the stock its 14th largest position. Ranger Investment Management L.P. owned approximately 0.94% of Warby Parker at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in WRBY. AQR Capital Management LLC lifted its stake in Warby Parker by 101.0% in the first quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock valued at $3,122,000 after buying an additional 86,053 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Warby Parker by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock worth $961,000 after buying an additional 2,297 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Warby Parker by 96.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock worth $34,433,000 after buying an additional 929,073 shares during the period. Caxton Associates LLP acquired a new stake in shares of Warby Parker during the 1st quarter worth approximately $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Warby Parker by 17.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock valued at $4,685,000 after acquiring an additional 38,395 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

Warby Parker Stock Up 0.5%

NYSE WRBY opened at $27.57 on Monday. Warby Parker Inc. has a 52 week low of $14.96 and a 52 week high of $31.00. The business has a 50 day moving average price of $26.98 and a 200-day moving average price of $25.07. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 393.86, a P/E/G ratio of 7.44 and a beta of 1.92.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The business had revenue of $235.51 million for the quarter, compared to analyst estimates of $237.98 million. Warby Parker had a net margin of 0.85% and a return on equity of 3.36%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) earnings per share. On average, equities research analysts anticipate that Warby Parker Inc. will post 0.14 earnings per share for the current year.

Insider Activity

In related news, CEO Neil Harris Blumenthal sold 217,667 shares of Warby Parker stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $29.61, for a total transaction of $6,445,119.87. Following the transaction, the chief executive officer owned 31,112 shares of the company’s stock, valued at $921,226.32. The trade was a 87.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Youngme E. Moon sold 10,000 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $26.53, for a total value of $265,300.00. Following the completion of the sale, the director directly owned 26,061 shares of the company’s stock, valued at $691,398.33. The trade was a 27.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 278,167 shares of company stock worth $8,206,480 over the last 90 days. 16.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

WRBY has been the topic of a number of research reports. Piper Sandler reiterated an “overweight” rating on shares of Warby Parker in a research report on Tuesday, May 19th. BTIG Research restated a “buy” rating on shares of Warby Parker in a report on Friday, August 14th. Citigroup reaffirmed a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Roth Capital reiterated a “neutral” rating and set a $28.00 price objective on shares of Warby Parker in a report on Wednesday, August 5th. Finally, Citizens Jmp cut their price objective on shares of Warby Parker from $30.00 to $29.00 and set a “market outperform” rating on the stock in a research report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Warby Parker presently has a consensus rating of “Moderate Buy” and an average target price of $30.18.

Warby Parker Company Profile

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.