MYT Netherlands Parent B.V. (NYSE:MYTE) Stock Price Down 6.1% – Here’s Why

MYT Netherlands Parent B.V. (NYSE:MYTE) shares were down 6.1% during trading on Friday . The stock traded as low as $7.02 and last traded at $7.02. Approximately 970 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 40,259 shares. The stock had previously closed at $7.48.

MYT Netherlands Parent B.V. Stock Down 3.2 %

The firm’s 50-day moving average is $6.76 and its 200 day moving average is $5.36. The firm has a market capitalization of $617.33 million, a P/E ratio of -16.09 and a beta of 1.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.26 and a current ratio of 1.95.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MYTE. Portolan Capital Management LLC boosted its position in MYT Netherlands Parent B.V. by 30.6% during the 3rd quarter. Portolan Capital Management LLC now owns 1,805,758 shares of the company’s stock worth $6,880,000 after acquiring an additional 422,942 shares during the last quarter. Avalon Global Asset Management LLC boosted its holdings in MYT Netherlands Parent B.V. by 14.8% during the second quarter. Avalon Global Asset Management LLC now owns 700,000 shares of the company’s stock worth $3,570,000 after purchasing an additional 90,000 shares during the last quarter. Finally, Luxor Capital Group LP grew its position in MYT Netherlands Parent B.V. by 94.3% in the third quarter. Luxor Capital Group LP now owns 459,588 shares of the company’s stock valued at $1,751,000 after purchasing an additional 223,013 shares in the last quarter. 10.07% of the stock is currently owned by institutional investors.

MYT Netherlands Parent B.V. Company Profile

MYT Netherlands Parent B.V., through its subsidiary, Mytheresa Group GmbH, operates a luxury e-commerce platform for fashion consumers in Germany, the United States, rest of Europe, and internationally. It offers womenswear, menswear, kids wear, and lifestyle products. The company sells clothes, bags, shoes, accessories, and fine jewelry through online and retail stores.