a.k.a. Brands Holding Corp. (NYSE:AKA) Sees Significant Decline in Short Interest

a.k.a. Brands Holding Corp. (NYSE:AKA – Get Rating) saw a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 656,200 shares, a drop of 29.6% from the April 15th total of 932,400 shares. Approximately 5.9% of the shares of the company are short sold. Based on an average daily trading volume, of 296,700 shares, the days-to-cover ratio is presently 2.2 days.

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

In related news, CEO Jill Elizabeth Ramsey acquired 12,000 shares of the firm’s stock in a transaction dated Monday, March 7th. The stock was acquired at an average price of $4.31 per share, with a total value of $51,720.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Myles B. Mccormick bought 15,305 shares of the company’s stock in a transaction that occurred on Monday, March 7th. The shares were bought at an average cost of $4.00 per share, for a total transaction of $61,220.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 37,305 shares of company stock valued at $155,740 over the last three months.

A number of hedge funds have recently made changes to their positions in the business. Citigroup Inc. grew its stake in 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 acquiring an additional 2,080 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of a.k.a. Brands by 2.0% in the fourth quarter. Squarepoint Ops LLC now owns 127,455 shares of the company’s stock valued at $1,179,000 after purchasing an additional 2,455 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of a.k.a. Brands in the fourth quarter valued at approximately $34,000. Bank of New York Mellon Corp lifted its position in a.k.a. Brands by 24.2% during the first quarter. Bank of New York Mellon Corp now owns 23,254 shares of the company’s stock worth $103,000 after buying an additional 4,538 shares in the last quarter. Finally, California State Teachers Retirement System acquired a new position in a.k.a. Brands during the fourth quarter worth $48,000. Institutional investors own 63.46% of the company’s stock.

AKA opened at $3.70 on Friday. a.k.a. Brands has a twelve month low of $3.05 and a twelve month high of $15.23. The company has a 50-day moving average price of $4.14 and a 200 day moving average price of $7.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.63 and a current ratio of 2.19.

a.k.a. Brands (NYSE:AKA – Get Rating) last announced its earnings results on Tuesday, May 10th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $148.32 million for the quarter, compared to analyst estimates of $143.37 million. a.k.a. Brands’s revenue was up 115.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 EPS. As a group, equities analysts forecast that a.k.a. Brands will post 0.31 EPS for the current fiscal year.

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.

Further Reading