Hodges Capital Management Inc. Purchases Shares of 472,826 DoubleVerify Holdings, Inc. (NYSE:DV)

Hodges Capital Management Inc. purchased a new stake in DoubleVerify Holdings, Inc. (NYSE:DV) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 472,826 shares of the company’s stock, valued at approximately $16,625,000. DoubleVerify accounts for 1.1% of Hodges Capital Management Inc.’s portfolio, making the stock its 26th largest holding. Hodges Capital Management Inc. owned about 0.28% of DoubleVerify as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Shaker Investments LLC OH boosted its stake in DoubleVerify by 0.4% in the fourth quarter. Shaker Investments LLC OH now owns 75,927 shares of the company’s stock worth $2,793,000 after purchasing an additional 280 shares in the last quarter. Signaturefd LLC boosted its stake in DoubleVerify by 84.7% in the fourth quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock worth $40,000 after purchasing an additional 498 shares in the last quarter. 1492 Capital Management LLC boosted its stake in DoubleVerify by 1.0% in the fourth quarter. 1492 Capital Management LLC now owns 56,389 shares of the company’s stock worth $2,074,000 after purchasing an additional 553 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in DoubleVerify by 65.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock worth $55,000 after purchasing an additional 587 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in DoubleVerify by 42.0% in the fourth quarter. First Horizon Advisors Inc. now owns 2,382 shares of the company’s stock worth $88,000 after purchasing an additional 704 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on DV. Bank of America lowered DoubleVerify from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $45.00 to $18.00 in a research note on Thursday, May 9th. Needham & Company LLC cut their price target on DoubleVerify from $45.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Stifel Nicolaus cut their price target on DoubleVerify from $37.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Canaccord Genuity Group cut their price target on DoubleVerify from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, JMP Securities cut their price target on DoubleVerify from $40.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.05.

DoubleVerify Stock Performance

NYSE DV traded up $0.42 during trading hours on Friday, hitting $19.47. 4,154,649 shares of the company traded hands, compared to its average volume of 2,586,172. The business’s 50-day moving average is $21.54 and its 200-day moving average is $31.17. DoubleVerify Holdings, Inc. has a twelve month low of $17.50 and a twelve month high of $43.00. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 51.24, a P/E/G ratio of 2.93 and a beta of 0.92.

DoubleVerify (NYSE:DV) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. DoubleVerify had a return on equity of 6.46% and a net margin of 11.25%. The firm had revenue of $140.70 million during the quarter, compared to analysts’ expectations of $138.25 million. During the same period in the prior year, the firm posted $0.07 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. Analysts predict that DoubleVerify Holdings, Inc. will post 0.31 EPS for the current year.

DoubleVerify announced that its board has authorized a stock buyback program on Thursday, May 16th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at DoubleVerify

In other news, insider Julie Eddleman sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $33.05, for a total value of $29,745.00. Following the completion of the sale, the insider now directly owns 140,702 shares of the company’s stock, valued at $4,650,201.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Julie Eddleman sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $33.05, for a total value of $29,745.00. Following the completion of the sale, the insider now directly owns 140,702 shares of the company’s stock, valued at $4,650,201.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Nicola T. Allais sold 5,292 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $30.86, for a total value of $163,311.12. Following the completion of the sale, the chief financial officer now directly owns 73,030 shares of the company’s stock, valued at $2,253,705.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,951 shares of company stock valued at $984,214. Insiders own 3.00% of the company’s stock.

DoubleVerify 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.