Kornitzer Capital Management Inc. KS Sells 541,999 Shares of DoubleVerify Holdings, Inc. $DV

Kornitzer Capital Management Inc. KS reduced its stake in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 56.4% in the third quarter, HoldingsChannel reports. The firm owned 419,814 shares of the company’s stock after selling 541,999 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in DoubleVerify were worth $5,029,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. TradeLink Capital LLC acquired a new stake in DoubleVerify in the 2nd quarter worth approximately $607,000. Gagnon Securities LLC lifted its stake in shares of DoubleVerify by 280.9% in the 2nd quarter. Gagnon Securities LLC now owns 365,000 shares of the company’s stock valued at $5,464,000 after purchasing an additional 269,170 shares during the period. JPMorgan Chase & Co. grew its position in DoubleVerify by 18.0% during the second quarter. JPMorgan Chase & Co. now owns 768,230 shares of the company’s stock valued at $11,500,000 after buying an additional 117,161 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in DoubleVerify by 58.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 136,978 shares of the company’s stock valued at $2,051,000 after buying an additional 50,306 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in DoubleVerify by 11,171.7% in the third quarter. Pacer Advisors Inc. now owns 532,024 shares of the company’s stock valued at $6,374,000 after purchasing an additional 527,304 shares during the period. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on DV shares. Truist Financial cut their price objective on shares of DoubleVerify from $22.00 to $17.00 and set a “buy” rating for the company in a report on Monday, November 10th. The Goldman Sachs Group reiterated a “neutral” rating and set a $13.50 price target on shares of DoubleVerify in a report on Tuesday, October 14th. Scotiabank reissued an “outperform” rating on shares of DoubleVerify in a report on Monday, November 10th. JPMorgan Chase & Co. reduced their target price on shares of DoubleVerify from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Finally, Barclays reissued an “equal weight” rating and issued a $12.00 price target on shares of DoubleVerify in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.41.

DoubleVerify Price Performance

Shares of DV opened at $10.93 on Wednesday. The firm has a 50-day simple moving average of $10.92 and a two-hundred day simple moving average of $12.52. The stock has a market cap of $1.76 billion, a PE ratio of 43.70, a P/E/G ratio of 0.74 and a beta of 0.98. DoubleVerify Holdings, Inc. has a 1-year low of $7.64 and a 1-year high of $23.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.98 and a quick ratio of 3.98.

DoubleVerify (NYSE:DV) last posted its quarterly earnings data on Friday, November 7th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.13. DoubleVerify had a net margin of 6.10% and a return on equity of 6.59%. The firm had revenue of $188.62 million during the quarter, compared to analysts’ expectations of $190.43 million. During the same quarter last year, the company posted $0.10 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, analysts forecast that DoubleVerify Holdings, Inc. will post 0.36 EPS for the current year.

About DoubleVerify

DoubleVerify, Inc is a leading digital media measurement and analytics company that helps advertisers, publishers and platforms ensure their digital advertising campaigns are viewable, fraud-free and brand-safe. The company’s platform integrates data science, machine learning and proprietary analytics to authenticate the quality of media across display, video, mobile, CTV and social channels. By delivering real-time insights into ad viewability, fraud detection and contextual relevance, DoubleVerify empowers marketers to optimize campaign performance and drive better return on ad spend.

At the core of DoubleVerify’s offering are solutions for viewability measurement, invalid traffic (IVT) detection, brand safety and suitability, contextual targeting and campaign performance analytics.