Natuzzi (NYSE:NTZ) Issues Earnings Results

Natuzzi (NYSE:NTZ) issued its quarterly earnings results on Wednesday. The company reported ($0.46) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $68.87 million for the quarter. Natuzzi had a negative return on equity of 76.40% and a negative net margin of 9.71%.

Natuzzi Trading Down 14.2%

Shares of NTZ stock traded down $0.19 on Friday, reaching $1.15. 10,742 shares of the stock were exchanged, compared to its average volume of 5,810. The business’s 50 day moving average price is $1.80 and its 200 day moving average price is $2.57. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.50 and a current ratio of 0.85. Natuzzi has a twelve month low of $1.14 and a twelve month high of $4.06.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Kanen Wealth Management LLC lifted its stake in Natuzzi by 5.8% during the first quarter. Kanen Wealth Management LLC now owns 1,763,136 shares of the company’s stock worth $8,657,000 after purchasing an additional 96,890 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Natuzzi during the first quarter worth approximately $1,817,000. Benjamin Edwards Inc. lifted its position in shares of Natuzzi by 27.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 178,000 shares of the company’s stock worth $648,000 after buying an additional 38,350 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of Natuzzi during the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 6.07% of the company’s stock.

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.