Malaga Cove Capital LLC Acquires 33,278 Shares of FIGS, Inc. (NYSE:FIGS)

Malaga Cove Capital LLC increased its holdings in shares of FIGS, Inc. (NYSE:FIGS) by 18.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 214,122 shares of the company’s stock after buying an additional 33,278 shares during the period. Malaga Cove Capital LLC’s holdings in FIGS were worth $1,465,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FIGS. Creative Planning lifted its stake in shares of FIGS by 17.7% in the 3rd quarter. Creative Planning now owns 12,697 shares of the company’s stock valued at $87,000 after purchasing an additional 1,911 shares during the period. The Manufacturers Life Insurance Company lifted its stake in FIGS by 6.0% in the second quarter. The Manufacturers Life Insurance Company now owns 50,564 shares of the company’s stock valued at $270,000 after buying an additional 2,879 shares during the period. Janney Montgomery Scott LLC boosted its holdings in FIGS by 23.6% during the first quarter. Janney Montgomery Scott LLC now owns 16,977 shares of the company’s stock worth $85,000 after buying an additional 3,247 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in FIGS by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 63,141 shares of the company’s stock worth $316,000 after buying an additional 4,038 shares during the last quarter. Finally, Tandem Capital Management Corp ADV grew its position in shares of FIGS by 3.3% during the 2nd quarter. Tandem Capital Management Corp ADV now owns 133,330 shares of the company’s stock worth $725,000 after buying an additional 4,200 shares during the period. 92.21% of the stock is owned by institutional investors.

FIGS Stock Performance

NYSE FIGS opened at $6.41 on Thursday. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 64.10, a PEG ratio of 82.80 and a beta of 1.44. The business has a 50 day simple moving average of $6.19 and a 200 day simple moving average of $5.71. FIGS, Inc. has a 52-week low of $4.30 and a 52-week high of $7.98.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.01 EPS for the quarter. The business had revenue of $144.23 million for the quarter, compared to analyst estimates of $142.25 million. FIGS had a net margin of 3.39% and a return on equity of 4.94%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business posted $0.02 earnings per share. On average, analysts predict that FIGS, Inc. will post 0.03 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on FIGS. Telsey Advisory Group reiterated a “market perform” rating and issued a $7.00 price target on shares of FIGS in a research report on Monday. The Goldman Sachs Group increased their target price on shares of FIGS from $4.25 to $4.75 and gave the stock a “sell” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, FIGS presently has an average rating of “Hold” and a consensus price target of $5.60.

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.