Invenomic Capital Management LP Buys Shares of 1,808,905 DoubleVerify Holdings, Inc. $DV

Invenomic Capital Management LP purchased a new position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 1,808,905 shares of the company’s stock, valued at approximately $21,671,000. DoubleVerify makes up approximately 1.0% of Invenomic Capital Management LP’s holdings, making the stock its 27th biggest position.

A number of other large investors have also recently added to or reduced their stakes in DV. Holocene Advisors LP increased its position in shares of DoubleVerify by 38.9% in the 3rd quarter. Holocene Advisors LP now owns 218,093 shares of the company’s stock worth $2,613,000 after purchasing an additional 61,069 shares during the last quarter. Fred Alger Management LLC grew its stake in DoubleVerify by 8.4% in the third quarter. Fred Alger Management LLC now owns 18,086 shares of the company’s stock worth $217,000 after purchasing an additional 1,400 shares in the last quarter. Focus Partners Wealth increased its holdings in DoubleVerify by 28.9% in the third quarter. Focus Partners Wealth now owns 17,122 shares of the company’s stock valued at $206,000 after buying an additional 3,838 shares during the last quarter. Fortress Investment Group LLC bought a new stake in DoubleVerify in the third quarter valued at about $5,668,000. Finally, Bridgefront Capital LLC raised its stake in DoubleVerify by 179.2% during the third quarter. Bridgefront Capital LLC now owns 85,280 shares of the company’s stock valued at $1,022,000 after buying an additional 54,737 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

DoubleVerify Stock Down 1.6%

DoubleVerify stock opened at $10.20 on Monday. DoubleVerify Holdings, Inc. has a 52-week low of $7.64 and a 52-week high of $16.82. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 1.16 and a beta of 0.98. The firm has a 50-day moving average price of $10.28 and a two-hundred day moving average price of $11.23.

DoubleVerify (NYSE:DV) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.02). The firm had revenue of $205.59 million during the quarter, compared to analyst estimates of $208.77 million. DoubleVerify had a net margin of 6.77% and a return on equity of 7.50%. DoubleVerify’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 EPS. Research analysts expect that DoubleVerify Holdings, Inc. will post 0.36 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on DV shares. Morgan Stanley lifted their target price on DoubleVerify from $15.00 to $15.50 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Barclays reissued an “equal weight” rating and set a $12.00 target price on shares of DoubleVerify in a report on Monday, January 12th. Zacks Research lowered shares of DoubleVerify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DoubleVerify in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada cut their target price on shares of DoubleVerify from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Eleven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $15.88.

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.