Tower Research Capital LLC TRC Lowers Stake in ContextLogic Inc. (NASDAQ:WISH)

Tower Research Capital LLC TRC reduced its position in shares of ContextLogic Inc. (NASDAQ:WISH) by 44.6% during the 4th quarter, HoldingsChannel reports. The fund owned 7,008 shares of the company’s stock after selling 5,644 shares during the period. Tower Research Capital LLC TRC’s holdings in ContextLogic were worth $42,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC purchased a new position in ContextLogic in the 3rd quarter valued at about $45,000. Bank of New York Mellon Corp lifted its stake in ContextLogic by 9.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 84,192 shares of the company’s stock valued at $371,000 after buying an additional 7,322 shares in the last quarter. Deuterium Capital Management LLC purchased a new position in ContextLogic in the 3rd quarter valued at about $55,000. New York Life Insurance Co. purchased a new position in ContextLogic in the 3rd quarter valued at about $229,000. Finally, Cannell Capital LLC purchased a new position in ContextLogic in the 3rd quarter valued at about $3,889,000. 46.05% of the stock is owned by hedge funds and other institutional investors.

ContextLogic Stock Down 2.7 %

WISH traded down $0.15 during trading on Thursday, reaching $5.48. The company’s stock had a trading volume of 1,373,998 shares, compared to its average volume of 997,216. The firm has a fifty day simple moving average of $5.86 and a two-hundred day simple moving average of $5.32. ContextLogic Inc. has a 1 year low of $3.55 and a 1 year high of $9.90. The company has a market cap of $133.71 million, a price-to-earnings ratio of -0.41 and a beta of 2.09.

ContextLogic (NASDAQ:WISH) last released its earnings results on Monday, March 4th. The company reported ($2.82) earnings per share for the quarter. ContextLogic had a negative return on equity of 102.51% and a negative net margin of 113.62%. The business had revenue of $53.00 million during the quarter.

Insiders Place Their Bets

In other ContextLogic news, SVP Brett Just sold 7,999 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $6.31, for a total value of $50,473.69. Following the transaction, the senior vice president now directly owns 6,859 shares of the company’s stock, valued at approximately $43,280.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.20% of the company’s stock.

ContextLogic Profile

ContextLogic Inc operates as a mobile ecommerce company in Europe, North America, South America, and internationally. The company operates Wish, an ecommerce platform that connects consumers to merchants. It also provides marketplace and logistics services to merchants. ContextLogic Inc was incorporated in 2010 and is headquartered in San Francisco, California.