a.k.a. Brands (NYSE:AKA) Releases Earnings Results, Beats Estimates By $0.01 EPS

a.k.a. Brands (NYSE:AKAGet Rating) released its earnings results on Tuesday. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01, Briefing.com reports. The firm had revenue of $148.32 million during the quarter, compared to the consensus estimate of $143.37 million. The business’s quarterly revenue was up 115.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 EPS. a.k.a. Brands updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.

AKA traded up $0.02 during trading on Wednesday, reaching $3.27. The company had a trading volume of 10,572 shares, compared to its average volume of 293,391. The company has a quick ratio of 0.63, a current ratio of 1.71 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $4.20. a.k.a. Brands has a 52 week low of $3.13 and a 52 week high of $15.23.

AKA has been the subject of a number of research reports. KeyCorp cut their price objective on shares of a.k.a. Brands from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, January 20th. Zacks Investment Research downgraded a.k.a. Brands from a “hold” rating to a “sell” rating in a report on Monday, April 18th. Credit Suisse Group dropped their target price on a.k.a. Brands from $11.70 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, March 2nd. Finally, Piper Sandler lowered their price target on shares of a.k.a. Brands from $17.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $13.20.

In other news, CEO Jill Elizabeth Ramsey purchased 12,000 shares of the stock in a transaction dated Monday, March 7th. The shares were acquired at an average cost of $4.31 per share, for a total transaction of $51,720.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Myles B. Mccormick purchased 15,305 shares of the firm’s stock in a transaction on Monday, March 7th. The stock was acquired at an average price of $4.00 per share, with a total value of $61,220.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 37,305 shares of company stock worth $155,740.

Several institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. raised its stake in shares of a.k.a. Brands by 252.4% during the 4th quarter. Citigroup Inc. now owns 2,904 shares of the company’s stock valued at $27,000 after buying an additional 2,080 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in a.k.a. Brands in the 4th quarter valued at about $34,000. California State Teachers Retirement System acquired a new stake in a.k.a. Brands in the 4th quarter worth about $48,000. Wells Fargo & Company MN purchased a new stake in a.k.a. Brands during the 4th quarter worth approximately $52,000. Finally, Deutsche Bank AG acquired a new position in shares of a.k.a. Brands during the fourth quarter valued at approximately $54,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

About a.k.a. Brands (Get Rating)

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.

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