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

Shares of MYT Netherlands Parent B.V. (NYSE:MYTE) dropped 6% on Tuesday . The stock traded as low as $7.16 and last traded at $7.16. Approximately 100,011 shares changed hands during 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. Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.95 and a quick ratio of 0.26. The stock has a market cap of $650.58 million, a PE ratio of -16.38 and a beta of 1.01. The stock’s fifty day moving average is $6.83 and its 200-day moving average is $5.19.

Institutional Investors Weigh In On MYT Netherlands Parent B.V.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Luxor Capital Group LP increased its position in shares of MYT Netherlands Parent B.V. by 591.8% during the second quarter. Luxor Capital Group LP now owns 236,575 shares of the company’s stock valued at $1,207,000 after acquiring an additional 202,379 shares during the last quarter. Avalon Global Asset Management LLC lifted its holdings in shares of MYT Netherlands Parent B.V. by 14.8% in the 2nd quarter. Avalon Global Asset Management LLC now owns 700,000 shares of the company’s stock worth $3,570,000 after acquiring an additional 90,000 shares during the last quarter. Finally, Portolan Capital Management LLC boosted its position in shares of 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 purchasing an additional 422,942 shares during the period. 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.