809,704 DoubleVerify Holdings, Inc. $DV Shares Sold by Private Management Group Inc.

Key Points

• Private Management Group cut its DoubleVerify stake by 45.7% in the third quarter, selling 809,704 shares and retaining 960,426 shares valued at about $13.0 million.
• Other major investors increased their holdings, including BlackRock and State Street; institutional investors collectively own 97.29% of the company’s shares.
• Analyst sentiment is largely neutral: 14 analysts rate the stock “Hold,” with an average price target of $13.52.

Private Management Group Inc. lessened its holdings in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 45.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 960,426 shares of the company's stock after selling 809,704 shares during the period. Private Management Group Inc. owned about 0.61% of DoubleVerify worth $12,956,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of DoubleVerify by 19.6% in the second quarter. BlackRock Inc. now owns 23,152,508 shares of the company's stock worth $250,973,000 after purchasing an additional 3,799,956 shares during the last quarter. State Street Corp lifted its holdings in shares of DoubleVerify by 23.3% in the second quarter. State Street Corp now owns 5,375,150 shares of the company's stock valued at $58,267,000 after purchasing an additional 1,014,027 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of DoubleVerify by 9.1% during the first quarter. Dimensional Fund Advisors LP now owns 4,333,555 shares of the company's stock valued at $41,169,000 after buying an additional 363,005 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of DoubleVerify during the second quarter valued at approximately $31,333,000. Finally, First Eagle Investment Management LLC boosted its position in shares of DoubleVerify by 82.7% during the second quarter. First Eagle Investment Management LLC now owns 1,160,000 shares of the company's stock valued at $12,574,000 after buying an additional 525,000 shares during the last quarter. Institutional investors own 97.29% of the company's stock.

Analyst Ratings Changes

DV has been the subject of a number of analyst reports. Truist Financial lowered DoubleVerify from a "buy" rating to a "hold" rating and lowered their price target for the company from $16.00 to $13.60 in a research report on Friday, August 7th. Nomura set a $13.60 price objective on shares of DoubleVerify in a report on Friday, August 7th. Wells Fargo & Company raised shares of DoubleVerify from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $8.00 to $13.60 in a report on Friday, August 7th. JPMorgan Chase & Co. downgraded shares of DoubleVerify from an "overweight" rating to a "neutral" rating and set a $13.60 target price for the company. in a report on Friday, August 21st. Finally, Scotiabank lowered shares of DoubleVerify from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from $15.00 to $13.60 in a research report on Friday, August 7th. Fourteen analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, DoubleVerify currently has an average rating of "Hold" and an average price target of $13.52.

DoubleVerify Price Performance

Shares of NYSE DV opened at $13.55 on Tuesday. The company has a market capitalization of $2.12 billion, a PE ratio of 33.89, a PEG ratio of 1.46 and a beta of 0.93. The company has a quick ratio of 4.50, a current ratio of 4.69 and a debt-to-equity ratio of 0.01. The stock's 50 day moving average price is $13.48 and its 200-day moving average price is $11.41. DoubleVerify Holdings, Inc. has a twelve month low of $8.60 and a twelve month high of $13.65.

About DoubleVerify

DoubleVerify Holdings, Inc provides digital media measurement, analytics and optimization services for advertisers, agencies and publishers. Its technology helps clients assess whether digital ads are viewable, free from fraudulent activity and delivered in brand-safe environments across channels such as websites, mobile apps, social media and connected TV.

The company's offerings include verification and performance measurement tools, as well as products designed to help advertisers evaluate and optimize media campaigns.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.