SeaTown Holdings Pte. Ltd. boosted its stake in shares of Farfetch Ltd (NYSE:FTCH) by 12.1% in the second quarter, HoldingsChannel reports. The firm owned 74,000 shares of the company’s stock after purchasing an additional 8,000 shares during the quarter. SeaTown Holdings Pte. Ltd.’s holdings in Farfetch were worth $1,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. raised its stake in Farfetch by 9,359.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,500 shares of the company’s stock valued at $73,000 after purchasing an additional 3,463 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Farfetch in the first quarter valued at about $228,000. Shikiar Asset Management Inc. acquired a new position in Farfetch in the first quarter valued at about $242,000. First Trust Advisors LP acquired a new position in Farfetch in the first quarter valued at about $276,000. Finally, Landsberg Bennett & Dubbaneh LLC acquired a new position in Farfetch in the second quarter valued at about $306,000. 50.06% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently commented on FTCH shares. KeyCorp started coverage on Farfetch in a research note on Wednesday, June 12th. They issued an “overweight” rating and a $27.00 price target for the company. Wells Fargo & Co set a $17.00 target price on Farfetch and gave the stock a “buy” rating in a research note on Friday. BTIG Research began coverage on Farfetch in a research note on Tuesday, July 16th. They set a “buy” rating and a $26.00 target price for the company. Zacks Investment Research raised Farfetch from a “sell” rating to a “hold” rating in a research note on Tuesday, July 16th. Finally, Credit Suisse Group set a $22.00 target price on Farfetch and gave the stock a “buy” rating in a research note on Friday. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $25.17.
NYSE FTCH traded up $0.56 during trading on Tuesday, hitting $11.96. 208,834 shares of the company’s stock were exchanged, compared to its average volume of 3,571,135. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.22 and a current ratio of 4.57. The stock has a market capitalization of $3.04 billion and a P/E ratio of -20.27. Farfetch Ltd has a fifty-two week low of $9.22 and a fifty-two week high of $32.40. The firm’s 50 day moving average price is $19.58.
Farfetch (NYSE:FTCH) last issued its earnings results on Thursday, August 8th. The company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.09). The business had revenue of $209.30 million for the quarter, compared to analyst estimates of $196.51 million. Farfetch had a negative return on equity of 25.09% and a negative net margin of 40.23%. Farfetch’s revenue for the quarter was up 42.7% compared to the same quarter last year. On average, equities analysts predict that Farfetch Ltd will post -0.89 earnings per share for the current year.
Farfetch Ltd. engages in the retail of fashion and luxury goods. It offers womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.
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