System1, Inc. $SST Position Trimmed by Cannae Holdings Inc.

Key Points

• Cannae Holdings Inc. has reduced its stake in System1, Inc. by 90%, selling 24,311,515 shares in the second quarter, leaving them with 2,701,279 shares, which is approximately 1.8% of their portfolio.
• Deutsche Bank AG significantly increased its position in System1 by 383.2%, now holding 146,110 shares valued at approximately $131,000.
• Wall Street analysts have a consensus buy rating for System1, with a target price raised from $5.00 to $10.00 based on recent research reports.

Cannae Holdings Inc. reduced its position in System1, Inc. (NYSE:SST - Free Report) by 90.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,701,279 shares of the company's stock after selling 24,311,515 shares during the quarter. System1 accounts for about 1.8% of Cannae Holdings Inc.'s holdings, making the stock its 4th largest holding. Cannae Holdings Inc. owned approximately 27.34% of System1 worth $14,938,000 at the end of the most recent reporting period.

Separately, Deutsche Bank AG grew its position in shares of System1 by 383.2% in the 4th quarter. Deutsche Bank AG now owns 146,110 shares of the company's stock worth $131,000 after buying an additional 115,870 shares during the last quarter. 87.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SST. Wall Street Zen upgraded System1 to a "hold" rating in a research report on Saturday, July 26th. Benchmark boosted their price objective on shares of System1 from $5.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, System1 presently has a consensus rating of "Buy" and a consensus target price of $10.00.

Insider Activity

In other news, major shareholder Cee Holdings Trust purchased 12,584 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average cost of $6.25 per share, for a total transaction of $78,650.00. Following the purchase, the insider directly owned 895,956 shares in the company, valued at approximately $5,599,725. This represents a 1.42% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders acquired 30,166 shares of company stock valued at $200,783. Company insiders own 13.20% of the company's stock.

System1 Stock Up 0.5%

Shares of System1 stock traded up $0.04 on Monday, reaching $8.45. The company's stock had a trading volume of 17,174 shares, compared to its average volume of 76,345. The company has a market capitalization of $83.82 million, a price-to-earnings ratio of -0.88 and a beta of 1.39. The firm's fifty day simple moving average is $6.97 and its two-hundred day simple moving average is $5.41. System1, Inc. has a 52 week low of $2.90 and a 52 week high of $15.00. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 4.52.

System1 (NYSE:SST - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($2.23) EPS for the quarter. The business had revenue of $78.11 million during the quarter. System1 had a negative return on equity of 92.07% and a negative net margin of 22.43%.

System1 Profile

System1, Inc provides omnichannel customer acquisition platform services through its proprietary responsive acquisition marketing platform in the United States, the United Kingdom, Canada, the Netherlands, and internationally. It operates through two segments: Owned and Operated Advertising, and Partner Network.