Engine Capital Management LP Boosts Holdings in Fiverr International $FVRR

Key Points

• Engine Capital Management increased its Fiverr International stake by 78.4% during the first quarter, adding 588,220 shares to own 1.34 million shares worth approximately $13.4 million, or 3.72% of the company.
• Institutional investors own 59% of Fiverr’s shares, while analyst sentiment remains mixed: three analysts rate it Buy, eight Hold, and one Sell, producing an overall “Hold” rating and a $19.30 average price target.
• Fiverr shares opened at $11.06, near the lower end of their 52-week range. The company reported $0.62 in quarterly EPS on $105.49 million in revenue, and analysts expect full-year EPS of $1.24.

Engine Capital Management LP boosted its holdings in shares of Fiverr International (NYSE:FVRR - Free Report) by 78.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,338,644 shares of the company's stock after buying an additional 588,220 shares during the quarter. Fiverr International makes up about 1.6% of Engine Capital Management LP's investment portfolio, making the stock its 16th largest holding. Engine Capital Management LP owned approximately 3.72% of Fiverr International worth $13,413,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FVRR. Russell Investments Group Ltd. purchased a new position in shares of Fiverr International during the 4th quarter worth $32,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Fiverr International in the 4th quarter worth $43,000. Clearstead Trust LLC bought a new position in Fiverr International in the 4th quarter worth $46,000. Caitong International Asset Management Co. Ltd raised its holdings in Fiverr International by 586.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,493 shares of the company's stock worth $49,000 after purchasing an additional 2,130 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Fiverr International by 4,392.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,055 shares of the company's stock valued at $90,000 after purchasing an additional 2,987 shares in the last quarter. 59.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FVRR shares. Wall Street Zen raised Fiverr International from a "hold" rating to a "buy" rating in a report on Saturday, June 6th. Weiss Ratings raised Fiverr International from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, July 9th. Finally, Zacks Research raised Fiverr International from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $19.30.

Fiverr International Stock Up 5.7%

Shares of FVRR stock opened at $11.06 on Tuesday. The company has a market capitalization of $397.50 million, a price-to-earnings ratio of 14.18 and a beta of 1.39. Fiverr International has a one year low of $9.58 and a one year high of $28.00. The company's fifty day moving average price is $10.68 and its 200-day moving average price is $11.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.85 and a quick ratio of 1.85.

Fiverr International (NYSE:FVRR - Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported $0.62 earnings per share for the quarter. The company had revenue of $105.49 million for the quarter. Fiverr International had a net margin of 6.70% and a return on equity of 17.22%. Sell-side analysts expect that Fiverr International will post 1.24 EPS for the current fiscal year.

About Fiverr International

Fiverr International Ltd. operates an online marketplace that connects businesses and individuals with freelance talent across a wide range of professional services. Through its platform, Fiverr enables clients to procure work such as graphic design, digital marketing, writing and translation, video and animation, programming and tech, and business services. By offering a streamlined interface for ordering and delivering gig-based work, the company seeks to simplify the procurement of specialized skills on a project-by-project basis.

Founded in 2010 and headquartered in Tel Aviv, Israel, Fiverr serves clients and freelancers around the globe, with a particularly strong presence in North America and Europe.

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