a.k.a. Brands Holding Corp. (NYSE:AKA) CFO Ciaran Joseph Long acquired 79,979 shares of the firm's stock in a transaction that occurred on Friday, March 17th. The stock was acquired at an average price of $0.63 per share, for a total transaction of $50,386.77. Following the completion of the transaction, the chief financial officer now directly owns 383,226 shares in the company, valued at $241,432.38. The purchase was disclosed in a filing with the Securities & Exchange Commission.
a.k.a. Brands Stock Performance
Shares of AKA traded down $0.18 during midday trading on Monday, hitting $0.70. 627,240 shares of the stock traded hands, compared to its average volume of 94,485. a.k.a. Brands Holding Corp. has a 1-year low of $0.55 and a 1-year high of $4.90. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.80 and a current ratio of 2.24. The firm has a market capitalization of $89.93 million, a PE ratio of -0.51 and a beta of 1.43. The business's 50 day moving average price is $1.40 and its two-hundred day moving average price is $1.58.
Analysts Set New Price Targets
A number of brokerages have issued reports on AKA. Telsey Advisory Group cut shares of a.k.a. Brands from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $4.00 to $2.00 in a research report on Friday, March 10th. Jefferies Financial Group lowered a.k.a. Brands from a "buy" rating to a "hold" rating and reduced their target price for the company from $4.00 to $1.70 in a research note on Wednesday, February 15th. Credit Suisse Group lowered their target price on a.k.a. Brands from $3.50 to $3.00 and set a "neutral" rating on the stock in a report on Friday, March 10th. Piper Sandler cut a.k.a. Brands from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $3.00 to $2.00 in a report on Friday, March 10th. Finally, Truist Financial reduced their price objective on a.k.a. Brands from $4.00 to $2.60 and set a "buy" rating on the stock in a research report on Friday, March 10th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $2.34.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Partners L P grew its stake in shares of a.k.a. Brands by 2.7% in the 3rd quarter. Summit Partners L P now owns 69,656,120 shares of the company's stock worth $101,001,000 after purchasing an additional 1,814,229 shares during the last quarter. Must Asset Management Inc. raised its stake in a.k.a. Brands by 99.2% during the 3rd quarter. Must Asset Management Inc. now owns 1,339,798 shares of the company's stock valued at $1,902,000 after purchasing an additional 667,166 shares during the period. Putnam Investments LLC lifted its stake in a.k.a. Brands by 7.0% in the 3rd quarter. Putnam Investments LLC now owns 1,230,850 shares of the company's stock worth $1,784,000 after acquiring an additional 80,695 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its position in shares of a.k.a. Brands by 12.9% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 503,376 shares of the company's stock worth $639,000 after purchasing an additional 57,453 shares in the last quarter. Finally, Springhouse Capital Management LP acquired a new stake in shares of a.k.a. Brands during the 2nd quarter valued at $1,215,000. 59.89% of the stock is currently owned by institutional investors.
About a.k.a. Brands
a.k.a. Brands Holding Corp. operates a portfolio of online fashion brands in the United States, Australia, and internationally. It offers apparel, footwear, and accessories through its online stores under the Princess Polly, Culture Kings, Petal & Pup, mnml, and Rebdolls brands, as well as operates eight physical stores under the Culture Kings brand name.