Private Management Group Inc. Acquires 144,613 Shares of Veritone, Inc. (NASDAQ:VERI)

Private Management Group Inc. boosted its holdings in Veritone, Inc. (NASDAQ:VERI) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,126,535 shares of the company’s stock after buying an additional 144,613 shares during the quarter. Private Management Group Inc. owned approximately 0.06% of Veritone worth $3,849,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Banta Asset Management LP raised its holdings in Veritone by 7.4% during the 3rd quarter. Banta Asset Management LP now owns 2,513,431 shares of the company’s stock worth $6,485,000 after purchasing an additional 172,675 shares during the last quarter. Vontobel Holding Ltd. increased its stake in shares of Veritone by 32.2% in the 4th quarter. Vontobel Holding Ltd. now owns 439,130 shares of the company’s stock valued at $795,000 after acquiring an additional 106,890 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Veritone by 7.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 228,265 shares of the company’s stock valued at $589,000 after acquiring an additional 16,496 shares in the last quarter. L2 Asset Management LLC bought a new stake in shares of Veritone in the 3rd quarter valued at $31,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Veritone in the 3rd quarter valued at $27,000. Institutional investors own 39.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Roth Mkm lifted their price objective on shares of Veritone from $1.85 to $2.25 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Roth Capital raised shares of Veritone from a “sell” rating to a “neutral” rating in a research report on Thursday, February 1st.

Veritone Stock Down 7.0 %

NASDAQ VERI traded down $0.27 during mid-day trading on Wednesday, hitting $3.56. The company’s stock had a trading volume of 986,475 shares, compared to its average volume of 2,162,685. The company’s 50 day simple moving average is $3.69 and its 200 day simple moving average is $2.63. Veritone, Inc. has a twelve month low of $1.48 and a twelve month high of $7.76. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.53. The firm has a market capitalization of $132.18 million, a price-to-earnings ratio of -1.68 and a beta of 2.97.

Veritone (NASDAQ:VERI) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.05. The firm had revenue of $34.20 million for the quarter, compared to the consensus estimate of $33.67 million. Veritone had a negative net margin of 42.97% and a negative return on equity of 120.37%. Analysts anticipate that Veritone, Inc. will post -0.58 earnings per share for the current year.

Veritone Company Profile

Veritone, Inc, together with its subsidiaries, engages in the provision of artificial intelligence (AI) computing solutions and services in the United States, the United Kingdom, France, Australia, Israel, and India. It develops and operates aiWARE platform, an AI operating system, that uses machine learning algorithms or AI models designed to mimic human cognitive functions, such as perception, prediction, and problem solving and optimization, as well as enables users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights.