3,512,150 Shares in TaskUs, Inc. $TASK Purchased by Brooklands Fund Management Ltd

Key Points

• Brooklands Fund Management purchased 3.51 million TaskUs shares worth approximately $27.5 million, giving it a 3.83% stake and making TaskUs its ninth-largest portfolio holding.
• Institutional investors own 44.64% of TaskUs, while other funds—including Saba Capital and Bank of America—also recently increased or initiated positions.
• TaskUs reported quarterly revenue of $308.86 million and adjusted EPS of $0.33, both exceeding analyst estimates. Despite mixed ratings, analysts have an average “Hold” recommendation and a $9.60 price target versus the stock’s recent $8.11 price.

Brooklands Fund Management Ltd bought a new position in TaskUs, Inc. (NASDAQ:TASK - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,512,150 shares of the company's stock, valued at approximately $27,500,000. TaskUs makes up about 4.0% of Brooklands Fund Management Ltd's portfolio, making the stock its 9th largest holding. Brooklands Fund Management Ltd owned 3.83% of TaskUs as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Squarepoint Ops LLC bought a new position in shares of TaskUs during the 2nd quarter valued at $148,000. Alamar Capital Management LLC acquired a new stake in shares of TaskUs in the second quarter worth about $80,000. Bank of America Corp DE lifted its position in shares of TaskUs by 2,573.2% in the first quarter. Bank of America Corp DE now owns 106,475 shares of the company's stock worth $714,000 after buying an additional 102,492 shares during the last quarter. Saba Capital Management L.P. bought a new stake in shares of TaskUs during the 1st quarter worth about $14,016,000. Finally, Renaissance Technologies LLC bought a new stake in shares of TaskUs during the 1st quarter worth about $242,000. Institutional investors and hedge funds own 44.64% of the company's stock.

TaskUs Trading Down 0.7%

Shares of TASK stock opened at $8.11 on Friday. The firm has a market capitalization of $743.61 million, a P/E ratio of 6.99 and a beta of 1.83. TaskUs, Inc. has a 1 year low of $4.47 and a 1 year high of $13.73. The firm's fifty day simple moving average is $8.14 and its 200 day simple moving average is $7.81. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 1.56.

TaskUs (NASDAQ:TASK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. TaskUs had a net margin of 8.75% and a return on equity of 27.02%. The company had revenue of $308.86 million for the quarter, compared to the consensus estimate of $297.58 million. As a group, sell-side analysts predict that TaskUs, Inc. will post 1.10 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wedbush reduced their target price on TaskUs from $12.00 to $9.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. Wall Street Zen upgraded TaskUs from a "hold" rating to a "buy" rating in a report on Saturday, October 24th. Robert W. Baird set a $12.00 price target on shares of TaskUs in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of TaskUs from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, October 19th. Finally, Morgan Stanley boosted their price objective on shares of TaskUs from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $9.60.

About TaskUs

TaskUs, Inc NASDAQ: TASK is a provider of digital outsourcing and customer experience services for technology companies and other high-growth businesses. The company helps clients manage customer interactions, back-office operations and other business processes through a combination of trained personnel, technology and data-driven workflows.

Its services include customer care, technical support, content moderation, trust and safety, fraud prevention, artificial intelligence operations and back-office support.

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