Dalton Investments Inc. Buys 69,900 Shares of TaskUs, Inc. (NASDAQ:TASK)

Key Points

• Dalton Investments Inc. increased its position in TaskUs, Inc. by 10.3%, now holding 750,146 shares, which represent about 5.5% of its investment portfolio.
• Several hedge funds, including Think Investments LP and SG Americas Securities LLC, also boosted their stakes in TaskUs, with institutional investors currently owning 44.64% of the stock.
• Analysts have recently downgraded TaskUs, with Royal Bank of Canada lowering its target price from $20.00 to $16.50 and assigning a "sector perform" rating.

Dalton Investments Inc. raised its stake in TaskUs, Inc. (NASDAQ:TASK - Free Report) by 10.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 750,146 shares of the company's stock after buying an additional 69,900 shares during the quarter. TaskUs comprises approximately 5.5% of Dalton Investments Inc.'s investment portfolio, making the stock its 7th biggest holding. Dalton Investments Inc. owned 0.83% of TaskUs worth $10,224,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Think Investments LP lifted its position in shares of TaskUs by 14.5% in the fourth quarter. Think Investments LP now owns 2,881,513 shares of the company's stock worth $48,813,000 after purchasing an additional 364,608 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of TaskUs by 85.9% in the first 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 in the last quarter. Ameriprise Financial Inc. lifted its position in shares of TaskUs by 7.9% in the fourth quarter. Ameriprise Financial Inc. now owns 957,653 shares of the company's stock worth $16,223,000 after purchasing an additional 69,704 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of TaskUs by 25.5% in the fourth quarter. Two Sigma Investments LP now owns 281,864 shares of the company's stock worth $4,775,000 after purchasing an additional 57,248 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of TaskUs by 26.8% in the fourth quarter. Two Sigma Advisers LP now owns 264,800 shares of the company's stock worth $4,486,000 after purchasing an additional 55,900 shares in the last quarter. Institutional investors own 44.64% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on TASK shares. Robert W. Baird lowered shares of TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 price objective on the stock. in a research report on Monday, May 12th. William Blair lowered shares of TaskUs from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Baird R W lowered shares of TaskUs from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. Finally, Royal Bank Of Canada dropped their price target on shares of TaskUs from $20.00 to $16.50 and set a "sector perform" rating on the stock in a research report on Monday, May 12th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $17.40.

TaskUs Stock Performance

NASDAQ TASK traded up $0.15 on Wednesday, hitting $17.18. 300,230 shares of the stock were exchanged, compared to its average volume of 195,522. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.84 and a quick ratio of 2.84. The business's fifty day moving average is $16.91 and its 200 day moving average is $15.40. TaskUs, Inc. has a 52 week low of $10.57 and a 52 week high of $19.60. The company has a market capitalization of $1.53 billion, a PE ratio of 24.90 and a beta of 2.16.

About TaskUs

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.