Federated Hermes Inc. Grows Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Key Points

• Federated Hermes Inc. increased its stake in DoubleVerify Holdings by 17,284%, acquiring an additional 1,654,250 shares and holding a total of 1,663,821 shares worth approximately $22,245,000.
• Institutional investors now own 97.29% of DoubleVerify's shares, indicating a highly concentrated ownership structure.
• Despite a revenue increase of 17.2% year-over-year, DoubleVerify missed EPS estimates, reporting $0.01 compared to expectations of $0.02.

Federated Hermes Inc. boosted its position in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 17,284.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,663,821 shares of the company's stock after acquiring an additional 1,654,250 shares during the period. Federated Hermes Inc. owned about 1.02% of DoubleVerify worth $22,245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its position in DoubleVerify by 1.6% during the 1st quarter. Mackenzie Financial Corp now owns 5,752,688 shares of the company's stock worth $76,913,000 after buying an additional 91,405 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in DoubleVerify by 37.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,502 shares of the company's stock valued at $742,000 after acquiring an additional 15,190 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in DoubleVerify by 11.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 25,926 shares of the company's stock valued at $347,000 after acquiring an additional 2,659 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of DoubleVerify during the 1st quarter worth about $195,000. Finally, South Dakota Investment Council boosted its stake in shares of DoubleVerify by 53.7% during the 1st quarter. South Dakota Investment Council now owns 110,719 shares of the company's stock worth $1,480,000 after purchasing an additional 38,700 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on DV. Canaccord Genuity Group cut their price target on shares of DoubleVerify from $26.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Needham & Company LLC restated a "buy" rating and issued a $18.00 price target on shares of DoubleVerify in a report on Thursday, June 12th. Truist Financial restated a "buy" rating and issued a $22.00 price target (up previously from $21.00) on shares of DoubleVerify in a report on Thursday, June 12th. BMO Capital Markets restated an "outperform" rating and issued a $26.00 price target (up previously from $25.00) on shares of DoubleVerify in a report on Thursday, June 12th. Finally, Wells Fargo & Company set a $13.00 price objective on shares of DoubleVerify and gave the company an "underweight" rating in a research note on Thursday, June 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.92.

DoubleVerify Stock Performance

DV stock traded up $0.10 during midday trading on Tuesday, hitting $15.55. The company's stock had a trading volume of 2,021,674 shares, compared to its average volume of 2,430,438. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 55.52, a PEG ratio of 2.30 and a beta of 1.05. The stock's 50-day moving average price is $14.90 and its 200 day moving average price is $15.66. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.01. DoubleVerify Holdings, Inc. has a 1 year low of $11.52 and a 1 year high of $23.11.

DoubleVerify (NYSE:DV - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). The business had revenue of $165.06 million during the quarter, compared to the consensus estimate of $153.07 million. DoubleVerify had a return on equity of 4.73% and a net margin of 7.55%. DoubleVerify's revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.04 earnings per share. On average, equities analysts forecast that DoubleVerify Holdings, Inc. will post 0.36 EPS for the current year.

DoubleVerify Company Profile

DoubleVerify Holdings, Inc provides a software platform for digital media measurement, and data analytics in the United States and internationally. The company provides solutions to advertisers that enable advertisers to increase the effectiveness and quality and return on their digital advertising investments.