Ranger Investment Management L.P. Makes New $30.95 Million Investment in Warby Parker Inc. $WRBY

Ranger Investment Management L.P. bought a new stake in Warby Parker Inc. (NYSE:WRBY) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 1,020,064 shares of the company’s stock, valued at approximately $30,949,000. Warby Parker comprises approximately 2.0% of Ranger Investment Management L.P.’s holdings, making the stock its 14th largest position.

Other institutional investors also recently modified their holdings of the company. TimesSquare Capital Management LLC lifted its holdings in shares of Warby Parker by 34.2% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,353,554 shares of the company’s stock worth $29,494,000 after buying an additional 344,879 shares in the last quarter. Wellington Shields Capital Management LLC bought a new position in shares of Warby Parker in the fourth quarter valued at approximately $935,000. Primoris Wealth Advisors LLC purchased a new position in Warby Parker during the fourth quarter valued at approximately $1,781,000. King Luther Capital Management Corp grew its stake in Warby Parker by 48.4% during the fourth quarter. King Luther Capital Management Corp now owns 423,258 shares of the company’s stock valued at $9,223,000 after acquiring an additional 137,995 shares in the last quarter. Finally, Atreides Management LP bought a new stake in Warby Parker during the 4th quarter worth approximately $8,565,000. 93.24% of the stock is owned by institutional investors.

Warby Parker Stock Up 0.5%

WRBY opened at $27.57 on Monday. The stock has a market cap of $2.98 billion, a PE ratio of 393.86, a P/E/G ratio of 7.44 and a beta of 1.92. Warby Parker Inc. has a 52 week low of $14.96 and a 52 week high of $31.00. The business’s fifty day simple moving average is $26.98 and its 200 day simple moving average is $25.07.

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

Insider Activity

In related news, Director Teresa Briggs sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $25.94, for a total value of $129,700.00. Following the completion of the sale, the director owned 48,883 shares in the company, valued at $1,268,025.02. The trade was a 9.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Youngme E. Moon sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $26.53, for a total value of $265,300.00. Following the completion of the sale, the director owned 26,061 shares of the company’s stock, valued at $691,398.33. The trade was a 27.73% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 278,167 shares of company stock worth $8,206,480. 16.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WRBY. Citizens Jmp lowered their target price on shares of Warby Parker from $30.00 to $29.00 and set a “market outperform” rating on the stock in a research note on Friday, August 7th. UBS Group boosted their price target on shares of Warby Parker from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Bank of America began coverage on shares of Warby Parker in a report on Monday, June 29th. They issued a “buy” rating and a $33.00 price target on the stock. Piper Sandler reiterated an “overweight” rating on shares of Warby Parker in a research report on Tuesday, May 19th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Warby Parker in a research note on Friday, August 7th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.