Bamco Inc. NY Purchases 1,302,823 Shares of FIGS, Inc. $FIGS

Bamco Inc. NY increased its position in FIGS, Inc. (NYSE:FIGS) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,974,407 shares of the company’s stock after purchasing an additional 1,302,823 shares during the quarter. FIGS makes up 0.9% of Bamco Inc. NY’s portfolio, making the stock its 21st biggest position. Bamco Inc. NY owned 36.90% of FIGS worth $338,256,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in FIGS. US Bancorp DE acquired a new stake in shares of FIGS during the 1st quarter worth approximately $70,000. Charles Schwab Investment Management Inc. boosted its stake in FIGS by 11.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,043,970 shares of the company’s stock valued at $4,792,000 after acquiring an additional 108,788 shares during the last quarter. Invesco Ltd. grew its holdings in FIGS by 16.5% during the 1st quarter. Invesco Ltd. now owns 169,755 shares of the company’s stock worth $779,000 after acquiring an additional 24,021 shares during the period. Nuveen LLC acquired a new stake in FIGS during the 1st quarter worth $958,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of FIGS during the 1st quarter valued at $334,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

FIGS Price Performance

NYSE FIGS opened at $11.91 on Friday. FIGS, Inc. has a one year low of $3.57 and a one year high of $12.20. The firm has a market cap of $1.96 billion, a P/E ratio of 119.12 and a beta of 1.31. The stock’s 50-day moving average is $8.93 and its 200-day moving average is $7.16.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The business had revenue of $151.66 million during the quarter, compared to analyst estimates of $142.39 million. FIGS had a return on equity of 4.50% and a net margin of 3.03%.FIGS’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) EPS. Equities analysts anticipate that FIGS, Inc. will post 0.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wall Street Zen lowered FIGS from a “strong-buy” rating to a “buy” rating in a research report on Saturday. BTIG Research raised their target price on FIGS from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $9.00 price target (up from $7.00) on shares of FIGS in a research note on Monday, November 3rd. Zacks Research upgraded shares of FIGS from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Finally, Wolfe Research upgraded shares of FIGS to a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, FIGS presently has a consensus rating of “Hold” and an average target price of $9.20.

Insider Transactions at FIGS

In related news, CEO Catherine Eva Spear sold 62,213 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $6.88, for a total transaction of $428,025.44. Following the sale, the chief executive officer directly owned 1,907,033 shares in the company, valued at $13,120,387.04. This trade represents a 3.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sarah Oughtred sold 22,745 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $7.39, for a total transaction of $168,085.55. Following the completion of the sale, the chief financial officer directly owned 845,345 shares in the company, valued at $6,247,099.55. This represents a 2.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 118,282 shares of company stock valued at $842,076 over the last quarter. Corporate insiders own 29.44% of the company’s stock.

About FIGS

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. It designs and sells healthcare apparel and scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.