VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Stake in DoubleVerify Holdings, Inc. $DV

Key Points

• Virginia Retirement Systems acquired 106,500 shares of DoubleVerify worth approximately $1.15 million, while institutional investors and hedge funds collectively own 97.29% of the company.
• DoubleVerify reported quarterly EPS of $0.22, beating estimates by $0.11, although revenue of $193.79 million fell short of expectations; revenue increased 2.5% year over year.
• Analyst sentiment is broadly neutral: several firms downgraded the stock to “Hold” or “Sector Perform,” resulting in a consensus rating of Hold and an average price target of $13.52.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 106,500 shares of the company's stock, valued at approximately $1,154,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.07% of DoubleVerify at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Diversified Investment Strategies LLC acquired a new position in DoubleVerify in the 1st quarter valued at approximately $3,246,000. Quantinno Capital Management LP boosted its stake in shares of DoubleVerify by 181.5% during the 1st quarter. Quantinno Capital Management LP now owns 426,329 shares of the company's stock valued at $4,050,000 after buying an additional 274,896 shares during the period. Empowered Funds LLC acquired a new stake in shares of DoubleVerify during the 1st quarter valued at $1,687,000. Pale Fire Capital SE purchased a new position in shares of DoubleVerify during the 1st quarter valued at $1,050,000. Finally, Russell Investments Group Ltd. increased its stake in shares of DoubleVerify by 92.0% in the second quarter. Russell Investments Group Ltd. now owns 299,346 shares of the company's stock worth $3,256,000 after acquiring an additional 143,429 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

DoubleVerify Stock Up 0.3%

DV stock opened at $13.41 on Friday. 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 Holdings, Inc. has a 1 year low of $7.64 and a 1 year high of $13.79. The company has a fifty day simple moving average of $12.42 and a 200 day simple moving average of $10.99. The firm has a market cap of $2.08 billion, a PE ratio of 37.26, a PEG ratio of 1.46 and a beta of 0.99.

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

Wall Street Analyst Weigh In

DV has been the subject of several recent research reports. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $13.60 price objective on shares of DoubleVerify in a report on Friday, August 21st. Scotiabank downgraded DoubleVerify from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $15.00 to $13.60 in a research note on Friday, August 7th. Royal Bank Of Canada downgraded DoubleVerify from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from $14.00 to $13.60 in a research note on Friday, August 7th. Canaccord Genuity Group lowered DoubleVerify from a "buy" rating to a "hold" rating and reduced their price target for the company from $16.00 to $13.60 in a report on Friday, August 7th. Finally, Truist Financial cut DoubleVerify from a "buy" rating to a "hold" rating and lowered their price target for the company from $16.00 to $13.60 in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $13.52.

DoubleVerify Company Profile

DoubleVerify Holdings, Inc provides software and data analytics that help advertisers, agencies, publishers and digital media platforms measure and improve the quality and effectiveness of digital advertising. Its technology is designed to verify whether ads are delivered in appropriate environments, viewed by real users and displayed as intended across digital channels.

The company's solutions address areas including viewability, fraud and invalid traffic, brand safety and suitability, media quality, campaign reach and performance.

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