Why Vacasa (VCSA) Shares Hit A New 52-Week Low Today

Vacasa Inc VCSA shares are trading lower by 28.99% to $0.93 Wednesday morning after the company reported fourth-quarter financial results.

What Happened: Vacasa reported fourth-quarter EPS of 34 cents which beat the analyst consensus estimate of a loss of 38 cents.

The company reported sales of $218.16 million which beat the analyst consensus estimate of $206.23 million.

What Else: The company says, while the overall travel industry remains strong, there is uncertainty within the company's vertical, whole homes in U.S. leisure markets, following two record years of travel demand.

Vacasa also says the reduction in the size of the company's sales force and adjustments to the sales strategy will affect home growth moving forward.

Following earnings, Oppenheimer analyst Jed Kelly downgraded Vacasa from Outperform to Perform. Needham analyst Bernie McTernan maintained Vacasa with a Buy, but lowered its price target from $5 to $1.5.

According to data from Benzinga Pro, VCSA has a 52-week high of $9.38 and a 52-week low of $0.88.