Kornitzer Capital Management Inc. KS Takes $2.87 Million Position in Warby Parker Inc. $WRBY

Kornitzer Capital Management Inc. KS bought a new stake in shares of Warby Parker Inc. (NYSE:WRBY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 130,990 shares of the company’s stock, valued at approximately $2,873,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Shaker Investments LLC OH lifted its position in shares of Warby Parker by 146.2% during the 2nd quarter. Shaker Investments LLC OH now owns 28,360 shares of the company’s stock valued at $622,000 after buying an additional 16,839 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Warby Parker during the 2nd quarter valued at approximately $217,000. New York State Teachers Retirement System lifted its position in shares of Warby Parker by 442.2% during the 2nd quarter. New York State Teachers Retirement System now owns 8,089 shares of the company’s stock valued at $177,000 after buying an additional 6,597 shares in the last quarter. CWM LLC lifted its position in shares of Warby Parker by 191.9% during the 2nd quarter. CWM LLC now owns 17,089 shares of the company’s stock valued at $375,000 after buying an additional 11,234 shares in the last quarter. Finally, KLP Kapitalforvaltning AS lifted its holdings in Warby Parker by 5.2% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 18,300 shares of the company’s stock valued at $401,000 after purchasing an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Down 4.1%

NYSE WRBY opened at $21.26 on Friday. Warby Parker Inc. has a 52 week low of $13.63 and a 52 week high of $29.73. The business’s fifty day simple moving average is $25.61 and its 200-day simple moving average is $22.26. The firm has a market cap of $2.24 billion, a PE ratio of -303.60 and a beta of 2.10.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. BTIG Research restated a “buy” rating and issued a $28.00 price objective (up previously from $24.00) on shares of Warby Parker in a report on Thursday, August 7th. Stifel Nicolaus raised their price objective on Warby Parker from $21.00 to $22.00 and gave the company a “hold” rating in a report on Friday, August 8th. The Goldman Sachs Group raised their price objective on Warby Parker from $27.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Warby Parker in a report on Friday. Finally, Citizens Jmp lowered Warby Parker from an “outperform” rating to a “market perform” rating in a report on Thursday, July 10th. Ten equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Warby Parker presently has an average rating of “Hold” and a consensus target price of $25.20.

Insider Transactions at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $25.11, for a total transaction of $1,255,500.00. Following the transaction, the chief executive officer owned 28,347 shares in the company, valued at $711,793.17. The trade was a 63.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joel E. Cutler sold 35,000 shares of Warby Parker stock in a transaction on Monday, September 8th. The stock was sold at an average price of $26.75, for a total value of $936,250.00. Following the transaction, the director owned 19,932 shares in the company, valued at approximately $533,181. This represents a 63.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 141,000 shares of company stock worth $3,709,521 in the last quarter. Company insiders own 18.24% of the company’s stock.

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.