Tdm Asset Management Pty Ltd
recently stated that they own 11.2% of DAVIDsTEA Inc. (NASDAQ:DTEA) in a Form 13G/A disclosure that was filed with the SEC on Wednesday, August 9th. The investor owns 2,895,530 shares of the stock valued at $15,201,533. The disclosure is available through EDGAR at this hyperlink.
Tdm Asset Management Pty Ltd
provided the following explanation of their ownership:
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Several other hedge funds have also recently bought and sold shares of the company. PEAK6 Investments L.P. purchased a new stake in DAVIDsTEA during the first quarter worth approximately $207,000. FMR LLC boosted its stake in DAVIDsTEA by 3.0% in the first quarter. FMR LLC now owns 3,101,945 shares of the company’s stock worth $22,800,000 after buying an additional 89,917 shares during the period. Finally, Vivaldi Capital Management LLC bought a new position in DAVIDsTEA during the first quarter worth about $5,631,217,000. Institutional investors and hedge funds own 19.82% of the company’s stock.
Shares of DAVIDsTEA Inc. (NASDAQ DTEA) traded down 0.94% during midday trading on Friday, reaching $5.25. The company’s stock had a trading volume of 2,070 shares. The stock has a 50 day moving average of $5.52 and a 200-day moving average of $6.35. DAVIDsTEA Inc. has a 1-year low of $4.90 and a 1-year high of $13.85.
DAVIDsTEA (NASDAQ:DTEA) last released its quarterly earnings data on Wednesday, June 7th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. The company had revenue of $48.70 million during the quarter, compared to the consensus estimate of $46.11 million. DAVIDsTEA had a negative net margin of 2.57% and a positive return on equity of 2.69%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $0.06 EPS. Analysts anticipate that DAVIDsTEA Inc. will post $0.06 EPS for the current fiscal year.
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A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered DAVIDsTEA from a “buy” rating to a “hold” rating in a report on Friday, July 14th. BMO Capital Markets reissued a “market perform” rating and set a $5.50 price target on shares of DAVIDsTEA in a report on Friday, June 9th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $6.42.
DAVIDsTEA Company Profile
DAVIDsTEA Inc is engaged in the retail and online sale of tea, tea accessories, and food and beverages in Canada and in the United States. The Company’s segments include Canada and the U.S. The Company is a branded retailer of specialty tea, offering approximately 150 loose-leaf teas, pre-packaged teas, tea sachets and tea-related gifts, accessories, and food and beverages primarily through approximately 190 DAVIDsTEA stores, which are operated by the Company, and its Website, davidstea.com.
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