Dalton Investments Inc. Boosts Stake in 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. increased its position in TaskUs, Inc. (NASDAQ:TASK - Free Report) by 10.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 750,146 shares of the company's stock after acquiring an additional 69,900 shares during the period. TaskUs makes up about 5.5% of Dalton Investments Inc.'s investment portfolio, making the stock its 7th biggest position. Dalton Investments Inc. owned approximately 0.83% of TaskUs worth $10,224,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of TaskUs by 32.3% during the 4th quarter. JPMorgan Chase & Co. now owns 103,045 shares of the company's stock worth $1,746,000 after purchasing an additional 25,173 shares during the period. Trexquant Investment LP purchased a new position in shares of TaskUs during the 4th quarter worth $301,000. Russell Investments Group Ltd. purchased a new position in shares of TaskUs during the 4th quarter worth $115,000. Renaissance Technologies LLC lifted its stake in shares of TaskUs by 7.0% during the 4th quarter. Renaissance Technologies LLC now owns 497,623 shares of the company's stock worth $8,430,000 after purchasing an additional 32,500 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of TaskUs during the 4th quarter worth $408,000. Institutional investors and hedge funds own 44.64% of the company's stock.

Wall Street Analyst Weigh In

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

TaskUs Stock Performance

TaskUs stock traded up $0.22 on Friday, reaching $17.47. 77,896 shares of the stock were exchanged, compared to its average volume of 372,231. The stock has a market cap of $1.55 billion, a PE ratio of 25.20 and a beta of 2.16. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.42. TaskUs, Inc. has a twelve month low of $10.57 and a twelve month high of $19.60. The firm has a fifty day moving average price of $16.92 and a two-hundred day moving average price of $15.41.

TaskUs Company 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.