Putnam Investments LLC Has $1.78 Million Stake in a.k.a. Brands Holding Corp. (NYSE:AKA)

Putnam Investments LLC raised its stake in a.k.a. Brands Holding Corp. (NYSE:AKA – Get Rating) by 7.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,230,850 shares of the company’s stock after buying an additional 80,695 shares during the quarter. Putnam Investments LLC owned 0.96% of a.k.a. Brands worth $1,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AKA. Goldman Sachs Group Inc. raised its position in shares of a.k.a. Brands by 2,671.2% during the first quarter. Goldman Sachs Group Inc. now owns 388,437 shares of the company’s stock worth $1,717,000 after purchasing an additional 374,420 shares during the period. BlackRock Inc. grew its holdings in shares of a.k.a. Brands by 1.7% during the first quarter. BlackRock Inc. now owns 362,482 shares of the company’s stock worth $1,602,000 after buying an additional 6,231 shares in the last quarter. State Street Corp grew its holdings in shares of a.k.a. Brands by 31.0% during the first quarter. State Street Corp now owns 113,368 shares of the company’s stock worth $501,000 after buying an additional 26,815 shares in the last quarter. Shellback Capital LP grew its holdings in shares of a.k.a. Brands by 82.7% during the first quarter. Shellback Capital LP now owns 112,900 shares of the company’s stock worth $499,000 after buying an additional 51,100 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of a.k.a. Brands by 9.7% during the second quarter. Northern Trust Corp now owns 70,621 shares of the company’s stock worth $195,000 after buying an additional 6,273 shares in the last quarter. Institutional investors and hedge funds own 59.89% of the company’s stock.

Analysts Set New Price Targets

AKA has been the subject of a number of analyst reports. Piper Sandler downgraded a.k.a. Brands from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $3.00 to $2.00 in a research note on Friday. Telsey Advisory Group cut a.k.a. Brands from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $4.00 to $2.00 in a research report on Friday. Credit Suisse Group cut their price objective on a.k.a. Brands to $3.50 in a research report on Wednesday, November 16th. Jefferies Financial Group cut a.k.a. Brands from a “buy” rating to a “hold” rating and cut their price objective for the company from $4.00 to $1.70 in a research report on Wednesday, February 15th. Finally, Truist Financial cut their price objective on a.k.a. Brands to $4.00 in a research report on Wednesday, November 16th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $2.58.

a.k.a. Brands Trading Down 36.1 %

Shares of AKA opened at $0.85 on Monday. a.k.a. Brands Holding Corp. has a 52-week low of $0.85 and a 52-week high of $4.92. The business’s fifty day moving average is $1.46 and its 200-day moving average is $1.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.58 and a current ratio of 1.84. The firm has a market cap of $109.51 million, a price-to-earnings ratio of -0.62, a PEG ratio of 22.02 and a beta of 1.43.

About a.k.a. Brands

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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.