First Eagle Investment Management LLC Buys 525,000 Shares of DoubleVerify Holdings, Inc. $DV

Key Points

• First Eagle Investment Management increased its DoubleVerify stake by 82.7% in the second quarter, purchasing 525,000 additional shares for a total of 1.16 million shares valued at approximately $12.6 million.
• Institutional ownership remains very high at 97.29%, with BlackRock, AQR Capital Management and Bank of Montreal among other major investors adding shares.
• Analysts have a consensus “Hold” rating and an average price target of $13.52. DoubleVerify beat quarterly EPS estimates, reporting $0.22 versus the expected $0.11, although revenue of $193.79 million fell short of forecasts.

First Eagle Investment Management LLC increased its stake in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 82.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,160,000 shares of the company's stock after purchasing an additional 525,000 shares during the period. First Eagle Investment Management LLC owned approximately 0.75% of DoubleVerify worth $12,574,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in DoubleVerify by 19.6% in the second quarter. BlackRock Inc. now owns 23,152,508 shares of the company's stock valued at $250,973,000 after buying an additional 3,799,956 shares during the period. Bank of Montreal Can boosted its stake in shares of DoubleVerify by 2,028.9% during the 4th quarter. Bank of Montreal Can now owns 3,649,995 shares of the company's stock worth $41,756,000 after acquiring an additional 3,478,542 shares during the period. AQR Capital Management LLC boosted its stake in shares of DoubleVerify by 123.4% during the 4th quarter. AQR Capital Management LLC now owns 5,254,565 shares of the company's stock worth $60,112,000 after acquiring an additional 2,902,169 shares during the period. Bank of America Corp DE acquired a new position in shares of DoubleVerify during the 2nd quarter worth approximately $31,333,000. Finally, SG Capital Management LLC increased its holdings in shares of DoubleVerify by 202.1% during the 4th quarter. SG Capital Management LLC now owns 1,020,892 shares of the company's stock worth $11,679,000 after acquiring an additional 2,020,892 shares during the last quarter. Institutional investors own 97.29% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DV. Wells Fargo & Company upgraded DoubleVerify from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $8.00 to $13.60 in a research note on Friday, August 7th. Weiss Ratings raised shares of DoubleVerify from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday. Nomura set a $13.60 price objective on shares of DoubleVerify in a report on Friday, August 7th. Royal Bank Of Canada lowered shares of DoubleVerify from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from $14.00 to $13.60 in a research report on Friday, August 7th. Finally, BMO Capital Markets set a $13.60 target price on shares of DoubleVerify in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $13.52.

DoubleVerify Stock Performance

NYSE:DV opened at $13.36 on Monday. The stock has a 50 day simple moving average of $12.20 and a 200 day simple moving average of $10.87. The stock has a market cap of $2.07 billion, a P/E ratio of 37.11, a PEG ratio of 1.45 and a beta of 0.99. DoubleVerify Holdings, Inc. has a 1-year low of $7.64 and a 1-year high of $15.56. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 0.01.

DoubleVerify (NYSE:DV - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.11. DoubleVerify had a return on equity of 8.77% and a net margin of 7.66%.The firm had revenue of $193.79 million for the quarter, compared to analyst estimates of $202.23 million. During the same period in the prior year, the firm posted $0.05 EPS. The company's revenue for the quarter was up 2.5% on a year-over-year basis. Research analysts anticipate that DoubleVerify Holdings, Inc. will post 0.59 earnings per share for the current year.

DoubleVerify Company Profile

DoubleVerify, Inc is a leading digital media measurement and analytics company that helps advertisers, publishers and platforms ensure their digital advertising campaigns are viewable, fraud-free and brand-safe. The company's platform integrates data science, machine learning and proprietary analytics to authenticate the quality of media across display, video, mobile, CTV and social channels. By delivering real-time insights into ad viewability, fraud detection and contextual relevance, DoubleVerify empowers marketers to optimize campaign performance and drive better return on ad spend.

At the core of DoubleVerify's offering are solutions for viewability measurement, invalid traffic (IVT) detection, brand safety and suitability, contextual targeting and campaign performance analytics.

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