Ameritas Advisory Services LLC Takes Position in Strive, Inc. $ASST

Key Points

• Ameritas Advisory Services LLC acquired 47,280 Strive shares worth approximately $516,000, representing 0.06% of the bitcoin-focused company. Several other institutional investors also initiated or increased positions, though institutional ownership remains relatively low at 5.52%.
• Strive reported a quarterly loss of $3.65 per share, missing the consensus estimate of a $0.95 loss, while revenue of $2.94 million was slightly below expectations. The company posted deeply negative margins and return on equity.
• Analyst sentiment remains broadly positive, with six Buy ratings and a consensus “Moderate Buy” rating; the average price target is $28.40. The stock opened at $27.62, after trading between $7.02 and $190.36 over the past year.

Ameritas Advisory Services LLC acquired a new stake in shares of Strive, Inc. (NASDAQ:ASST - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,280 shares of the company's stock, valued at approximately $516,000. Ameritas Advisory Services LLC owned 0.06% of Strive as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its stake in Strive by 180.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,969 shares of the company's stock valued at $41,000 after buying an additional 7,057 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Strive in the 2nd quarter worth $110,000. Engineers Gate Manager LP purchased a new position in shares of Strive in the 2nd quarter worth $40,000. Two Sigma Investments LP bought a new stake in shares of Strive in the third quarter worth $27,000. Finally, Osaic Holdings Inc. bought a new stake in shares of Strive in the second quarter worth $41,000. Hedge funds and other institutional investors own 5.52% of the company's stock.

Strive Price Performance

NASDAQ:ASST opened at $27.62 on Friday. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -3.12 and a beta of 13.36. Strive, Inc. has a one year low of $7.02 and a one year high of $190.36. The business has a fifty day moving average price of $16.24 and a 200-day moving average price of $14.19.

Strive (NASDAQ:ASST - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($3.65) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($2.70). The company had revenue of $2.94 million for the quarter, compared to analysts' expectations of $3.02 million. Strive had a negative net margin of 10,957.22% and a negative return on equity of 141.47%. On average, equities research analysts expect that Strive, Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Pierre Rochard bought 15,900 shares of the firm's stock in a transaction on Friday, August 14th. The shares were bought at an average price of $12.54 per share, for a total transaction of $199,386.00. Following the purchase, the director owned 15,900 shares in the company, valued at approximately $199,386. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.71% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ASST. B. Riley Financial upped their price objective on Strive from $16.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. HC Wainwright dropped their target price on Strive from $37.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, August 11th. Benchmark restated a "buy" rating on shares of Strive in a research note on Thursday, August 20th. Weiss Ratings raised shares of Strive from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen upgraded shares of Strive from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 16th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $28.40.

About Strive

Strive, Inc, formerly known as Asset Entities, Inc, is a bitcoin-focused financial company whose common stock trades on the Nasdaq under the symbol ASST. The company's primary objective is to build and manage a bitcoin treasury while pursuing strategies intended to increase bitcoin exposure for its shareholders.

Strive's activities include acquiring bitcoin, accessing capital markets and developing financial strategies related to digital assets. The company is led by Chief Executive Officer Matt Cole and was founded by entrepreneur and investor Vivek Ramaswamy.

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