Pacer Advisors Inc. Takes $4 Million Position in Vimeo, Inc. (NASDAQ:VMEO)

Key Points

• Pacer Advisors Inc. has invested approximately $4 million in Vimeo, acquiring 761,047 shares, representing 0.46% ownership of the company.
• Several institutional investors, including Royce & Associates LP and Massachusetts Financial Services Co., have significantly increased their stakes in Vimeo during the first quarter.
• Vimeo reported a quarterly revenue of $103.03 million, slightly above analysts' expectations, but the company's revenue has decreased by 1.8% compared to the same quarter last year.

Pacer Advisors Inc. purchased a new stake in Vimeo, Inc. (NASDAQ:VMEO - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 761,047 shares of the company's stock, valued at approximately $4,003,000. Pacer Advisors Inc. owned about 0.46% of Vimeo as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Royce & Associates LP raised its holdings in shares of Vimeo by 36.0% during the 1st quarter. Royce & Associates LP now owns 960,897 shares of the company's stock worth $5,054,000 after acquiring an additional 254,482 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Vimeo in the first quarter worth $740,000. Allianz Asset Management GmbH increased its position in Vimeo by 10.5% in the first quarter. Allianz Asset Management GmbH now owns 58,907 shares of the company's stock worth $310,000 after purchasing an additional 5,596 shares during the last quarter. Bailard Inc. raised its stake in Vimeo by 3.5% during the first quarter. Bailard Inc. now owns 116,800 shares of the company's stock valued at $614,000 after purchasing an additional 3,900 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Vimeo by 90.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 138,761 shares of the company's stock valued at $730,000 after purchasing an additional 65,831 shares during the last quarter. Hedge funds and other institutional investors own 84.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Jefferies Financial Group dropped their price objective on shares of Vimeo from $7.00 to $5.40 and set a "hold" rating for the company in a research note on Monday, April 7th. Piper Sandler set a $8.00 price target on Vimeo and gave the stock an "overweight" rating in a research report on Tuesday, May 6th.

Vimeo Stock Performance

VMEO stock traded down $0.12 during mid-day trading on Friday, reaching $3.68. 578,488 shares of the stock traded hands, compared to its average volume of 1,582,028. Vimeo, Inc. has a one year low of $3.44 and a one year high of $7.90. The stock has a market capitalization of $605.42 million, a PE ratio of 36.75 and a beta of 2.01. The business has a 50-day moving average price of $4.15 and a two-hundred day moving average price of $5.06.

Vimeo (NASDAQ:VMEO - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. Vimeo had a return on equity of 4.26% and a net margin of 4.10%. The firm had revenue of $103.03 million during the quarter, compared to analyst estimates of $101.57 million. During the same period last year, the company earned $0.04 EPS. Vimeo's quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities analysts expect that Vimeo, Inc. will post 0.16 earnings per share for the current fiscal year.

About Vimeo

Vimeo, Inc, together with its subsidiaries, provides video software solutions worldwide. It provides the video tools through a software-as-a-service model, which enables its users to create, collaborate, and communicate with video on a single platform. The company also offers over-the-top OTT streaming and monetization services; AI-driven video creation and editing tools; and interactive and shoppable video tools.