Pacer Advisors Inc. Lowers Stock Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in DoubleVerify Holdings, Inc. by 97.3%, owning only 5,081 shares worth $68,000 after selling 183,944 shares in the first quarter.
• Analysts have mixed opinions on DoubleVerify, with a consensus rating of "Moderate Buy" and target prices ranging from $15.50 to $20.00.
• The company's recent quarterly earnings showed a 17.2% increase in revenue to $165.06 million, although earnings per share missed estimates at $0.01.

Pacer Advisors Inc. cut its position in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 97.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,081 shares of the company's stock after selling 183,944 shares during the period. Pacer Advisors Inc.'s holdings in DoubleVerify were worth $68,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Signaturefd LLC raised its position in DoubleVerify by 582.9% during the first quarter. Signaturefd LLC now owns 2,322 shares of the company's stock worth $31,000 after acquiring an additional 1,982 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in DoubleVerify by 171.6% in the fourth quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company's stock valued at $39,000 after purchasing an additional 1,285 shares during the period. Versant Capital Management Inc acquired a new position in shares of DoubleVerify in the 1st quarter valued at $40,000. Aster Capital Management DIFC Ltd increased its holdings in shares of DoubleVerify by 50.8% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 3,912 shares of the company's stock worth $75,000 after buying an additional 1,317 shares during the last quarter. Finally, Redwood Investments LLC acquired a new position in DoubleVerify in the fourth quarter valued at $94,000. Hedge funds and other institutional investors own 97.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays upped their target price on DoubleVerify from $16.00 to $18.00 and gave the stock an "overweight" rating in a research report on Wednesday. BMO Capital Markets reiterated an "outperform" rating and issued a $27.00 price target (up previously from $26.00) on shares of DoubleVerify in a research note on Wednesday. Craig Hallum restated a "buy" rating and set a $20.00 price objective on shares of DoubleVerify in a report on Monday, July 7th. Needham & Company LLC reiterated a "buy" rating and set a $18.00 target price on shares of DoubleVerify in a research note on Thursday, June 12th. Finally, Canaccord Genuity Group dropped their price target on shares of DoubleVerify from $26.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.13.

DoubleVerify Trading Up 2.7%

NYSE DV traded up $0.42 during trading on Wednesday, reaching $15.90. 3,336,014 shares of the stock traded hands, compared to its average volume of 2,453,151. 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 fifty-two week low of $11.52 and a fifty-two week high of $23.11. The stock's 50-day moving average price is $14.95 and its 200 day moving average price is $15.66. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 57.13, a price-to-earnings-growth ratio of 2.34 and a beta of 1.05.

DoubleVerify (NYSE:DV - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $189.02 million during the quarter, compared to analyst estimates of $171.14 million. DoubleVerify had a net margin of 7.55% and a return on equity of 4.73%. The company's revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the company posted $0.04 earnings per share. Analysts predict 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.