MYT Netherlands Parent B.V. (NYSE:MYTE) Shares Up 7.1% – Here’s What Happened

MYT Netherlands Parent B.V. (NYSE:MYTE)’s share price rose 7.1% during mid-day trading on Wednesday . The company traded as high as $6.79 and last traded at $6.77. Approximately 80,635 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 142,405 shares. The stock had previously closed at $6.32.

MYT Netherlands Parent B.V. Stock Down 2.8 %

The firm’s fifty day simple moving average is $5.88 and its 200 day simple moving average is $4.96. The company has a market cap of $581.54 million, a price-to-earnings ratio of -15.60 and a beta of 0.98. The company has a current ratio of 2.04, a quick ratio of 0.33 and a debt-to-equity ratio of 0.09.

MYT Netherlands Parent B.V. (NYSE:MYTE) last posted its quarterly earnings results on Thursday, September 12th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.11). The business had revenue of $240.24 million during the quarter, compared to analyst estimates of $248.12 million. MYT Netherlands Parent B.V. had a negative net margin of 4.18% and a negative return on equity of 8.17%. During the same quarter in the prior year, the business earned ($0.07) earnings per share.

Hedge Funds Weigh In On MYT Netherlands Parent B.V.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MYTE. Avalon Global Asset Management LLC boosted its stake in MYT Netherlands Parent B.V. by 14.8% in the second quarter. Avalon Global Asset Management LLC now owns 700,000 shares of the company’s stock valued at $3,570,000 after acquiring an additional 90,000 shares in the last quarter. Luxor Capital Group LP lifted its holdings in shares of MYT Netherlands Parent B.V. by 591.8% in the 2nd quarter. Luxor Capital Group LP now owns 236,575 shares of the company’s stock valued at $1,207,000 after purchasing an additional 202,379 shares during the last quarter. Portolan Capital Management LLC lifted its holdings in shares of MYT Netherlands Parent B.V. by 30.6% in the 3rd quarter. Portolan Capital Management LLC now owns 1,805,758 shares of the company’s stock valued at $6,880,000 after purchasing an additional 422,942 shares during the last quarter. Finally, Sylebra Capital LLC boosted its position in shares of MYT Netherlands Parent B.V. by 1.1% in the 1st quarter. Sylebra Capital LLC now owns 3,895,398 shares of the company’s stock valued at $12,387,000 after purchasing an additional 41,914 shares during the period. 10.07% of the stock is owned by institutional investors and hedge funds.

About MYT Netherlands Parent B.V.

MYT Netherlands Parent B.V., through its subsidiary, Mytheresa Group GmbH, operates a luxury e-commerce platform for fashion consumers in Germany, the United States, rest of Europe, and internationally. It offers womenswear, menswear, kids wear, and lifestyle products. The company sells clothes, bags, shoes, accessories, and fine jewelry through online and retail stores.