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A New Stake in Ltd. (WIX) Was Taken

According to the Westpac Banking Corp most recent 13F SEC filing, they acquired 2019 shares of Ltd. (NASDAQ: WIX), during the first quarter. This represents a value of $137,000.

Although this might not seem very important, the truth is that we have been seeing other institutional holders both buying and selling shares only during this year. It all started with the entry of the First Mercantile Trust Co., also during the first quarter. Their new position in the company was valued at $228,000. Next, it was the turn of the Cipher Capital LP to purchase a larger stake in WIX, valued at $282,000. O Shaughnessy Asset Management LLC also increased their position in, in the fourth quarter, by 68.8%. They now own 6,502 shares of the company, which is an information services provider, valued at $290,000. But this is only after they bought the additional 2,650 shares during the last quarter. Lats but not least, we saw the Capstone Investment Advisors LLC buying a new position in valued at $327,000, during the fourth quarter.

Up to now, 77.35% of the stocks are owned by hedge funds and other institutional investors.

Last Friday, we saw the shares of Ltd. (NASDAQ: WIX), a company with a market capitalization of $3.10 billion, trading up 0.51%, hitting the $69.25 mark. During this day, the company had 399,903 shares traded. While the 50-day moving average is at $75.25, the $200 moving average is at $62.90. Ltd. 52 week low is currently at $26.31 and the 52 week high is at $86.15. Ltd. (NASDAQ: WIX) had their fourth quarter earnings released back on Wednesday, May 10th. The information services provider reported, at the time, an earning per share (EPS) for the quarter of ($0.47), clearly missing te Thomson Reuters consensus by $0.13. The consensus was ($0.33). In terms of revenue, the company reported $92.50 for the quarter, compared with $90.15 million, the consensus estimate. Looking at the exact same period just one year ago, Ltd. (NASDAQ: WIX) reported ($0.30) of earnings per share. I what concerns the quarterly revenue, the company was able to increase it by 50.2%, when compared with the fourth quarter last year. According to the most recent equities research analysts, they are expecting Ltd. (NASDAQ: WIX) to report $0.36 of earnings per share for this fiscal year.

Different equities analysts are very confident about Ltd. future and they have been adjusting their positions. The Royal Bank of Canada, for example, increased their price objective from $30.00 to $31.00, giving the stock a “sector perform” rating, one day after released their earnings. On the next day, it was the time for the Bank of America Corporation to also increase their price objective of the shares of the company from $70.00 to $90.00, giving them a “buy” rating. In the case of Citigroup Inc. March 27th was the day when they started covering the company setting it with a “neutral” rating. Last but not least, the Zacks Investment Research improved the rating of the stock from a “sell” to a “hold” rating, back on May 17th.

At this time, Ltd. has an average target price of $65.85 and an average rating of “Hold”.

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