26,699 Shares in TaskUs, Inc. $TASK Bought by Clearline Capital LP

Key Points

• Clearline Capital LP has acquired a new stake in TaskUs, Inc. by purchasing 26,699 shares valued at approximately $364,000.
• Multiple institutional investors, including Think Investments LP and SG Americas Securities LLC, have increased their positions in TaskUs, indicating growing institutional interest in the company.
• Analysts have mixed opinions on TaskUs, with Zacks Research upgrading the stock to a "strong-buy" while Baird R W downgraded it to a "hold," reflecting varying perspectives on its future performance.

Clearline Capital LP purchased a new stake in TaskUs, Inc. (NASDAQ:TASK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 26,699 shares of the company's stock, valued at approximately $364,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Think Investments LP increased its stake in shares of TaskUs by 12.9% during the 1st quarter. Think Investments LP now owns 3,253,358 shares of the company's stock worth $44,343,000 after purchasing an additional 371,845 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of TaskUs by 85.9% during the 1st quarter. SG Americas Securities LLC now owns 651,838 shares of the company's stock worth $8,885,000 after purchasing an additional 301,119 shares during the last quarter. Tocqueville Asset Management L.P. acquired a new position in shares of TaskUs during the 1st quarter worth about $2,576,000. Cubist Systematic Strategies LLC increased its stake in shares of TaskUs by 913.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 158,306 shares of the company's stock worth $2,158,000 after purchasing an additional 142,688 shares during the last quarter. Finally, Trexquant Investment LP increased its stake in shares of TaskUs by 697.4% during the 1st quarter. Trexquant Investment LP now owns 141,562 shares of the company's stock worth $1,929,000 after purchasing an additional 123,809 shares during the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Morgan Stanley lowered shares of TaskUs from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $21.00 to $16.50 in a research note on Tuesday. Zacks Research upgraded shares of TaskUs from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.88.

TaskUs Trading Down 2.2%

NASDAQ TASK traded down $0.39 on Wednesday, hitting $17.17. The company's stock had a trading volume of 713,755 shares, compared to its average volume of 393,674. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.42. TaskUs, Inc. has a 1-year low of $10.57 and a 1-year high of $19.60. The company's 50-day moving average is $17.22 and its 200 day moving average is $15.63. The firm has a market cap of $1.54 billion, a PE ratio of 24.88 and a beta of 2.16.

TaskUs Profile

TaskUs, Inc provides digital outsourcing services for companies in Philippines, the United States, India, and internationally. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through non-voice digital channels; and other solutions, including experience and customer care services for new product or market launches, and customer acquisition solutions.