Kornitzer Capital Management Inc. KS Trims Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Kornitzer Capital Management Inc. KS trimmed its position in DoubleVerify Holdings, Inc. (NYSE:DV) by 8.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 990,963 shares of the company’s stock after selling 95,850 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in DoubleVerify were worth $16,688,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DV. Vanguard Group Inc. raised its holdings in shares of DoubleVerify by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock valued at $552,974,000 after acquiring an additional 216,370 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in DoubleVerify by 9.6% in the third quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock valued at $69,440,000 after purchasing an additional 360,445 shares in the last quarter. Van Berkom & Associates Inc. lifted its position in DoubleVerify by 25.9% during the second quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock valued at $59,310,000 after purchasing an additional 626,586 shares during the last quarter. Burgundy Asset Management Ltd. purchased a new stake in shares of DoubleVerify during the 2nd quarter valued at $54,099,000. Finally, Mackenzie Financial Corp purchased a new position in shares of DoubleVerify in the 2nd quarter worth about $53,015,000. 97.29% of the stock is currently owned by institutional investors.

DoubleVerify Price Performance

Shares of NYSE:DV traded up $0.59 during trading on Thursday, hitting $20.14. The company’s stock had a trading volume of 507,626 shares, compared to its average volume of 2,347,866. DoubleVerify Holdings, Inc. has a 12 month low of $16.11 and a 12 month high of $43.00. The company has a 50-day moving average of $17.54 and a 200-day moving average of $19.59. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 55.74, a P/E/G ratio of 2.44 and a beta of 0.90.

DoubleVerify (NYSE:DV) last posted its earnings results on Wednesday, November 6th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. The company had revenue of $169.56 million during the quarter, compared to analysts’ expectations of $168.93 million. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. As a group, research analysts anticipate that DoubleVerify Holdings, Inc. will post 0.3 earnings per share for the current year.

DoubleVerify declared that its Board of Directors has approved a share buyback program on Wednesday, November 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JMP Securities lowered their price target on DoubleVerify from $34.00 to $33.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group lowered their target price on DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Piper Sandler lowered their price objective on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Stifel Nicolaus decreased their price target on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Macquarie cut their price objective on shares of DoubleVerify from $25.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.29.

Insider Activity

In related news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $16.92, for a total value of $29,846.88. Following the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at approximately $1,380,638.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 7,056 shares of company stock worth $119,634 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

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.