Alyeska Investment Group L.P. Buys New Shares in Liftoff Mobile, Inc. $LFTO

Key Points

• Alyeska Investment Group purchased 600,000 Liftoff Mobile shares worth approximately $14.4 million, while several other institutional investors also initiated positions during the second quarter.
• Director Atlantic Genpar L.P. General bought 1.3 million shares for roughly $30 million, increasing its Liftoff Mobile ownership by 5.43%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $35.69 price target, despite shares opening at $18.58 and recently falling 1.7%. Liftoff also beat quarterly EPS expectations, reporting a loss of $0.03 per share versus the consensus loss estimate of $0.52.

Alyeska Investment Group L.P. purchased a new stake in shares of Liftoff Mobile, Inc. (NASDAQ:LFTO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 600,000 shares of the company's stock, valued at approximately $14,412,000. Alyeska Investment Group L.P. owned approximately 0.35% of Liftoff Mobile as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in LFTO. WT Asset Management Ltd purchased a new position in shares of Liftoff Mobile in the 2nd quarter worth about $480,000. Legal & General Group Plc bought a new position in shares of Liftoff Mobile during the 2nd quarter valued at about $486,000. Bank of America Corp DE purchased a new position in shares of Liftoff Mobile during the 2nd quarter valued at about $1,282,000. Finally, Wellington Management Group LLP purchased a new position in shares of Liftoff Mobile during the 2nd quarter valued at about $4,433,000.

Insider Activity

In other Liftoff Mobile news, Director Atlantic Genpar L.P. General bought 1,304,347 shares of Liftoff Mobile stock in a transaction dated Friday, June 5th. The shares were purchased at an average cost of $23.00 per share, with a total value of $29,999,981.00. Following the completion of the purchase, the director owned 25,315,646 shares of the company's stock, valued at approximately $582,259,858. This represents a 5.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Analysts Set New Price Targets

Several research firms have commented on LFTO. Raymond James Financial reissued an "outperform" rating and set a $33.00 price target on shares of Liftoff Mobile in a research note on Thursday, August 13th. Jefferies Financial Group initiated coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They set a "buy" rating and a $34.00 target price on the stock. UBS Group lifted their target price on shares of Liftoff Mobile from $38.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Needham & Company LLC initiated coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They issued a "buy" rating and a $42.00 price target for the company. Finally, Barclays started coverage on shares of Liftoff Mobile in a research report on Monday, June 29th. They set an "overweight" rating and a $34.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $35.69.

Liftoff Mobile Stock Down 1.7%

Shares of NASDAQ:LFTO opened at $18.58 on Tuesday. The company's 50-day moving average price is $22.72. Liftoff Mobile, Inc. has a 12 month low of $18.11 and a 12 month high of $30.10.

Liftoff Mobile (NASDAQ:LFTO - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.49. The business had revenue of $219.51 million during the quarter. On average, equities analysts anticipate that Liftoff Mobile, Inc. will post 0.7 earnings per share for the current year.

Liftoff Mobile Company Profile

Liftoff Mobile Inc provides marketing and monetization solutions for the mobile app economy. Liftoff Mobile Inc is based in REDWOOD CITY, Calif.

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