Halter Ferguson Financial Inc. Takes $2.79 Million Position in ODDITY Tech Ltd. $ODD

Key Points

• Halter Ferguson Financial opened a new position in ODDITY Tech during the first quarter, buying 208,439 shares worth about $2.79 million. The stake represents roughly 0.6% of its portfolio and makes ODDITY its 16th-largest holding.
• Insider selling has been notable, with CFO Mann Lindsay Drucker selling 109,602 shares in a Rule 10b5-1 transaction to cover tax withholding obligations. Over the last 90 days, insiders have sold 128,805 shares valued at about $1.93 million.
• ODDITY Tech recently missed earnings expectations, reporting a loss of $0.17 per share versus an expected loss of $0.04, even though revenue came in above estimates at $197.94 million. Analysts remain cautious, with an average rating of “Reduce” and several firms cutting price targets.

Halter Ferguson Financial Inc. bought a new position in shares of ODDITY Tech Ltd. (NASDAQ:ODD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 208,439 shares of the company's stock, valued at approximately $2,789,000. ODDITY Tech makes up about 0.6% of Halter Ferguson Financial Inc.'s investment portfolio, making the stock its 16th biggest position. Halter Ferguson Financial Inc. owned 0.36% of ODDITY Tech as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ODD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in ODDITY Tech by 16.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,117 shares of the company's stock worth $3,293,000 after purchasing an additional 10,582 shares during the period. Geode Capital Management LLC increased its holdings in ODDITY Tech by 12.9% in the 2nd quarter. Geode Capital Management LLC now owns 75,063 shares of the company's stock valued at $5,660,000 after buying an additional 8,561 shares during the period. Legal & General Group Plc bought a new stake in shares of ODDITY Tech during the 2nd quarter worth approximately $71,000. American Century Companies Inc. boosted its position in shares of ODDITY Tech by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 14,300 shares of the company's stock worth $1,079,000 after acquiring an additional 2,105 shares in the last quarter. Finally, Invesco Ltd. acquired a new stake in shares of ODDITY Tech during the 2nd quarter worth approximately $327,000. Institutional investors own 35.88% of the company's stock.

Insider Transactions at ODDITY Tech

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 109,602 shares of the company's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total value of $1,653,894.18. Following the completion of the transaction, the chief financial officer owned 77,709 shares of the company's stock, valued at $1,172,628.81. This represents a 58.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 128,805 shares of company stock valued at $1,932,910.

ODDITY Tech Stock Performance

NASDAQ ODD opened at $17.35 on Tuesday. The firm's fifty day moving average price is $13.20 and its two-hundred day moving average price is $21.13. The stock has a market cap of $999.01 million, a PE ratio of 21.96 and a beta of 2.37. ODDITY Tech Ltd. has a fifty-two week low of $9.25 and a fifty-two week high of $77.83. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.13). ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The company had revenue of $197.94 million for the quarter, compared to analyst estimates of $187.87 million. During the same quarter last year, the company posted $0.69 earnings per share. The firm's quarterly revenue was down 26.2% on a year-over-year basis. On average, equities analysts expect that ODDITY Tech Ltd. will post -0.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Needham & Company LLC restated a "hold" rating on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Morgan Stanley decreased their price target on ODDITY Tech from $16.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 3rd. Barclays dropped their price objective on ODDITY Tech from $13.00 to $8.00 and set an "underweight" rating for the company in a research report on Wednesday, June 3rd. Truist Financial decreased their target price on ODDITY Tech from $18.00 to $12.00 and set a "hold" rating on the stock in a research report on Wednesday, June 3rd. Finally, KeyCorp reissued a "sector weight" rating on shares of ODDITY Tech in a research note on Wednesday, June 3rd. Eight equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $25.39.

ODDITY Tech Profile

Oddity Tech Ltd. operates as a consumer tech company that builds digital-first brands for the beauty and wellness industries in the United States and internationally. It serves consumers worldwide through its AI-driven online platform, which uses data science, machine learning, and computer vision capabilities to identify consumer needs, and develop solutions in the form of beauty and wellness products. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.

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