Natuzzi (NYSE:NTZ) Releases Earnings Results

Natuzzi (NYSE:NTZ) issued its earnings results on Friday. The company reported ($1.55) earnings per share (EPS) for the quarter, reports. Natuzzi had a negative return on equity of 38.57% and a negative net margin of 6.12%.The company had revenue of $90.93 million during the quarter.

Natuzzi Stock Up 0.7%

Shares of NTZ traded up $0.02 during midday trading on Friday, reaching $2.76. The company had a trading volume of 2,132 shares, compared to its average volume of 2,858. Natuzzi has a 1-year low of $2.15 and a 1-year high of $4.46. The firm has a 50 day simple moving average of $2.99 and a 200-day simple moving average of $2.89.

Institutional Trading of Natuzzi

Several institutional investors and hedge funds have recently bought and sold shares of NTZ. Kanen Wealth Management LLC raised its holdings in Natuzzi by 5.8% in the 1st quarter. Kanen Wealth Management LLC now owns 1,763,136 shares of the company’s stock valued at $8,657,000 after buying an additional 96,890 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in Natuzzi in the 1st quarter valued at about $1,817,000. Benjamin Edwards Inc. raised its holdings in Natuzzi by 27.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 178,000 shares of the company’s stock valued at $648,000 after buying an additional 38,350 shares during the period. Finally, Citadel Advisors LLC purchased a new stake in Natuzzi in the 3rd quarter valued at about $36,000. 6.07% of the stock is currently owned by hedge funds and other institutional investors.

About Natuzzi

Natuzzi S.p.A. is a global design and manufacturing company specializing in high-quality upholstered furniture. The company’s product portfolio includes leather and fabric sofas, armchairs, recliners, sectional systems and complementary home furnishings such as coffee tables, beds and accessories. Natuzzi markets its offerings under two primary brands—Natuzzi Italia, which focuses on contemporary Italian design, and Natuzzi Editions, which provides a broader range of styles at accessible price points.

Founded in 1959 by Pasquale Natuzzi in Santeramo in Colle, Italy, the company began as a small artisan workshop and has grown into the world’s largest producer of leather upholstered furniture.