MYT Netherlands Parent B.V. (NYSE:MYTE) Trading Down 6% – What’s Next?

MYT Netherlands Parent B.V. (NYSE:MYTE) shares were down 6% during trading on Tuesday . The company traded as low as $7.16 and last traded at $7.16. Approximately 100,011 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 149,380 shares. The stock had previously closed at $7.62.

MYT Netherlands Parent B.V. Stock Performance

The company has a fifty day moving average of $6.81 and a two-hundred day moving average of $5.24. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.26 and a current ratio of 1.95. The company has a market cap of $601.15 million, a price-to-earnings ratio of -15.67 and a beta of 1.01.

Hedge Funds Weigh In On MYT Netherlands Parent B.V.

A number of hedge funds have recently modified their holdings of MYTE. Luxor Capital Group LP increased its stake in MYT Netherlands Parent B.V. by 591.8% during the 2nd quarter. Luxor Capital Group LP now owns 236,575 shares of the company’s stock valued at $1,207,000 after purchasing an additional 202,379 shares in the last quarter. Avalon Global Asset Management LLC increased its holdings in MYT Netherlands Parent B.V. by 14.8% during the 2nd 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 in the last quarter. Finally, Portolan Capital Management LLC raised its stake in shares of MYT Netherlands Parent B.V. by 30.6% in the third quarter. Portolan Capital Management LLC now owns 1,805,758 shares of the company’s stock worth $6,880,000 after purchasing an additional 422,942 shares during the last quarter. Institutional investors and hedge funds own 10.07% of the company’s stock.

About MYT Netherlands Parent B.V.

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.