Natuzzi (NYSE:NTZ) Issues Quarterly Earnings Results

by · The Cerbat Gem

Natuzzi (NYSE:NTZ – Get Free Report) released its quarterly earnings results on Friday. The company reported ($1.55) earnings per share for the quarter, reports. Natuzzi had a negative return on equity of 38.57% and a negative net margin of 6.12%.The firm had revenue of $90.93 million for the quarter.

Natuzzi Stock Up 0.7%

Natuzzi stock traded up $0.02 during midday trading on Friday, hitting $2.76. 2,132 shares of the stock were exchanged, compared to its average volume of 2,858. Natuzzi has a 52-week low of $2.15 and a 52-week high of $4.46. The business’s 50-day moving average price is $2.99 and its 200-day moving average price is $2.89.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTZ. Kanen Wealth Management LLC boosted its holdings in Natuzzi by 5.8% during the first quarter. Kanen Wealth Management LLC now owns 1,763,136 shares of the company’s stock worth $8,657,000 after purchasing an additional 96,890 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Natuzzi in the first quarter valued at about $1,817,000. Benjamin Edwards Inc. boosted its stake in Natuzzi by 27.5% in the second quarter. Benjamin Edwards Inc. now owns 178,000 shares of the company’s stock valued at $648,000 after acquiring an additional 38,350 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new position in Natuzzi in the third quarter valued at about $36,000. 6.07% of the stock is currently owned by hedge funds and other institutional investors.

About Natuzzi

(Get Free Report)

Natuzzi S.p.A. is a global design and manufacturing company specializing in high-quality upholstered furniture. The company’s product portfolio includes leather and fabric sofas, armchairs, recliners, sectional systems and complementary home furnishings such as coffee tables, beds and accessories. Natuzzi markets its offerings under two primary brands—Natuzzi Italia, which focuses on contemporary Italian design, and Natuzzi Editions, which provides a broader range of styles at accessible price points.

Founded in 1959 by Pasquale Natuzzi in Santeramo in Colle, Italy, the company began as a small artisan workshop and has grown into the world’s largest producer of leather upholstered furniture.

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