eToro Group Ltd. $ETOR Stock Position Boosted by Saba Capital Management L.P.

Key Points

• Saba Capital Management increased its eToro stake by 156.2% in the first quarter, owning 203,291 shares worth approximately $6.1 million, or 0.25% of the company.
• eToro reported quarterly EPS of $0.91, surpassing the $0.70 analyst consensus, while revenue reached $2.44 billion. However, revenue declined 35% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $55.80, despite recent insider sales by the CEO and a director.

Saba Capital Management L.P. raised its stake in shares of eToro Group Ltd. (NASDAQ:ETOR - Free Report) by 156.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 203,291 shares of the company's stock after buying an additional 123,952 shares during the period. Saba Capital Management L.P. owned approximately 0.25% of eToro Group worth $6,105,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETOR. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of eToro Group in the fourth quarter valued at approximately $43,136,000. Invesco Ltd. raised its holdings in eToro Group by 14,120.4% during the fourth quarter. Invesco Ltd. now owns 974,243 shares of the company's stock worth $34,225,000 after purchasing an additional 967,392 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in eToro Group by 67.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,695,702 shares of the company's stock worth $59,571,000 after purchasing an additional 683,008 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in eToro Group in the second quarter worth approximately $43,397,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in eToro Group in the second quarter worth approximately $33,812,000.

eToro Group Price Performance

NASDAQ ETOR opened at $37.81 on Tuesday. The stock has a market capitalization of $3.13 billion, a P/E ratio of 15.82, a P/E/G ratio of 0.80 and a beta of 1.64. eToro Group Ltd. has a 1 year low of $24.74 and a 1 year high of $65.95. The business's fifty day moving average is $39.05 and its two-hundred day moving average is $34.65. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.92 and a current ratio of 3.92.

eToro Group (NASDAQ:ETOR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.21. The company had revenue of $2.44 billion during the quarter. eToro Group had a return on equity of 19.79% and a net margin of 1.90%.eToro Group's revenue was down 35.0% on a year-over-year basis. During the same quarter last year, the company posted $0.69 EPS. On average, research analysts forecast that eToro Group Ltd. will post 2.81 earnings per share for the current fiscal year.

Insider Buying and Selling at eToro Group

In related news, Director Shalev Eddy sold 100,000 shares of eToro Group stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $41.26, for a total value of $4,126,000.00. Following the transaction, the director owned 296,779 shares of the company's stock, valued at approximately $12,245,101.54. This trade represents a 25.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hedva Ber sold 55,160 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $41.90, for a total value of $2,311,204.00. Following the sale, the chief executive officer owned 20,660 shares in the company, valued at approximately $865,654. The trade was a 72.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ETOR. Keefe, Bruyette & Woods lifted their price target on eToro Group from $35.00 to $38.00 and gave the company a "market perform" rating in a research report on Wednesday, May 13th. Canaccord Genuity Group restated a "buy" rating and issued a $65.00 price objective on shares of eToro Group in a report on Tuesday, June 9th. Jefferies Financial Group raised their target price on eToro Group from $48.00 to $51.00 and gave the company a "buy" rating in a research note on Monday, April 6th. Zacks Research lowered eToro Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Finally, Susquehanna boosted their price target on shares of eToro Group from $55.00 to $57.00 and gave the stock a "positive" rating in a research report on Wednesday, May 13th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.80.

About eToro Group

eToro Group Ltd. NASDAQ: ETOR is a global multi-asset brokerage company known for its social trading platform. The company enables individual and institutional investors to trade and invest in a broad range of financial instruments, including stocks, exchange-traded funds (ETFs), commodities, indices, forex, and cryptocurrencies. eToro’s platform integrates a user-friendly interface with advanced trading tools, catering to both novice and experienced market participants.

A distinguishing feature of eToro’s offering is its CopyTrader™ functionality, which allows users to replicate the trades of selected investors on the platform.

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