Mill Creek Capital Advisors LLC Purchases New Position in eToro Group Ltd. $ETOR

Key Points

• Mill Creek Capital Advisors disclosed a new fourth-quarter position in eToro Group, buying 123,644 shares valued at about $4.34 million and taking a 0.15% stake.
• Other institutional investors also added to or established positions, while insider selling was notable: CEO Hedva Ber and Director Shalev Eddy both sold large blocks of shares in recent transactions.
• eToro posted better-than-expected earnings of $0.91 per share on $2.44 billion in revenue, even though revenue fell 35% year over year; analysts currently rate the stock a Moderate Buy with an average price target of $55.80.

Mill Creek Capital Advisors LLC acquired a new position in eToro Group Ltd. (NASDAQ:ETOR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 123,644 shares of the company's stock, valued at approximately $4,344,000. Mill Creek Capital Advisors LLC owned 0.15% of eToro Group at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. bought a new position in eToro Group in the 4th quarter worth approximately $43,136,000. Capital World Investors boosted its holdings in eToro Group by 2.6% in the 4th quarter. Capital World Investors now owns 900,903 shares of the company's stock worth $31,649,000 after buying an additional 22,934 shares during the period. Balyasny Asset Management L.P. bought a new position in eToro Group in the 2nd quarter worth approximately $43,397,000. Marshall Wace LLP boosted its holdings in eToro Group by 56.4% in the 4th quarter. Marshall Wace LLP now owns 635,672 shares of the company's stock worth $22,331,000 after buying an additional 229,319 shares during the period. Finally, Marex Group plc boosted its holdings in eToro Group by 291.3% in the 4th quarter. Marex Group plc now owns 605,205 shares of the company's stock worth $21,261,000 after buying an additional 450,540 shares during the period.

eToro Group Price Performance

Shares of NASDAQ:ETOR opened at $38.52 on Monday. The company has a 50 day moving average of $37.49 and a 200 day moving average of $34.57. The stock has a market cap of $3.19 billion and a P/E ratio of 16.12. eToro Group Ltd. has a 12 month low of $24.74 and a 12 month high of $68.66. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.02.

eToro Group (NASDAQ:ETOR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.70 by $0.21. The company had revenue of $2.44 billion during the quarter. eToro Group had a net margin of 1.90% and a return on equity of 19.79%. eToro Group's revenue was down 35.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 EPS. As a group, sell-side analysts forecast that eToro Group Ltd. will post 2.76 EPS for the current fiscal year.

Insider Activity at eToro Group

In related news, CEO Hedva Ber sold 55,160 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $41.90, for a total transaction of $2,311,204.00. Following the completion of the transaction, the chief executive officer owned 20,660 shares of the company's stock, valued at approximately $865,654. The trade was a 72.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shalev Eddy sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $41.26, for a total transaction of $4,126,000.00. Following the completion of the transaction, the director directly owned 296,779 shares of the company's stock, valued at approximately $12,245,101.54. This represents a 25.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Analyst Ratings Changes

Several research analysts recently commented on the stock. TD Cowen raised their price objective on shares of eToro Group from $44.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, May 14th. Susquehanna raised their price objective on shares of eToro Group from $55.00 to $57.00 and gave the stock a "positive" rating in a report on Wednesday, May 13th. Zacks Research raised shares of eToro Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 9th. Needham & Company LLC raised their price objective on shares of eToro Group from $58.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $65.00 price objective on shares of eToro Group in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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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