MYT Netherlands Parent B.V. (NYSE:MYTE) Stock Price Down 6.1% – Here’s What Happened

MYT Netherlands Parent B.V. (NYSE:MYTE)’s share price dropped 6.1% on Friday . The stock traded as low as $7.02 and last traded at $7.02. Approximately 970 shares changed hands during trading, a decline of 98% from the average daily volume of 40,259 shares. The stock had previously closed at $7.48.

MYT Netherlands Parent B.V. Price Performance

The stock has a market cap of $625.85 million, a PE ratio of -16.31 and a beta of 1.01. The business has a fifty day simple moving average of $6.77 and a two-hundred day simple moving average of $5.34. The company has a current ratio of 1.95, a quick ratio of 0.26 and a debt-to-equity ratio of 0.10.

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

A number of institutional investors have recently added to or reduced their stakes in MYTE. Luxor Capital Group LP lifted its holdings in shares of MYT Netherlands Parent B.V. by 591.8% during the second 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. Avalon Global Asset Management LLC raised its position in shares of MYT Netherlands Parent B.V. by 14.8% in the 2nd quarter. Avalon Global Asset Management LLC now owns 700,000 shares of the company’s stock worth $3,570,000 after purchasing an additional 90,000 shares during the last quarter. Finally, Portolan Capital Management LLC boosted its stake in 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 worth $6,880,000 after purchasing an additional 422,942 shares in the last quarter. Institutional investors own 10.07% of the company’s stock.

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.