Investors Buy High Volume of Liftoff Mobile Put Options (NASDAQ:LFTO)

Liftoff Mobile, Inc. (NASDAQ:LFTOGet Free Report) saw some unusual options trading on Tuesday. Stock traders acquired 2,122 put options on the stock. This is an increase of approximately 759% compared to the typical daily volume of 247 put options.

Analysts Set New Price Targets

LFTO has been the subject of several research reports. Barclays initiated coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They set an “overweight” rating and a $34.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Liftoff Mobile in a research report on Monday, June 29th. They issued a “buy” rating and a $37.00 target price for the company. Weiss Ratings initiated coverage on shares of Liftoff Mobile in a research note on Thursday, June 4th. They set a “sell (e)” rating for the company. Needham & Company LLC assumed coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They set a “buy” rating and a $42.00 price target on the stock. Finally, BTIG Research reaffirmed a “buy” rating and issued a $35.00 price target on shares of Liftoff Mobile in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.69.

Check Out Our Latest Analysis on LFTO

Insider Buying and Selling at Liftoff Mobile

In other Liftoff Mobile news, Director Atlantic Genpar L.P. General bought 1,304,347 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were bought at an average price of $23.00 per share, for a total transaction of $29,999,981.00. Following the acquisition, the director directly owned 25,315,646 shares of the company’s stock, valued at approximately $582,259,858. This trade represents a 5.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Liftoff Mobile

Hedge funds and other institutional investors have recently bought and sold shares of the business. Readystate Asset Management LP bought a new position in shares of Liftoff Mobile in the second quarter valued at about $1,677,000. Alyeska Investment Group L.P. bought a new stake in Liftoff Mobile during the 2nd quarter worth about $14,412,000. Wellington Management Group LLP acquired a new stake in Liftoff Mobile in the 2nd quarter valued at about $4,433,000. Bank of America Corp DE acquired a new stake in Liftoff Mobile in the 2nd quarter valued at about $1,282,000. Finally, Legal & General Group Plc acquired a new stake in Liftoff Mobile in the 2nd quarter valued at about $486,000.

Liftoff Mobile Stock Performance

Shares of NASDAQ LFTO traded down $0.08 during trading hours on Tuesday, hitting $18.50. 256,129 shares of the company’s stock were exchanged, compared to its average volume of 862,765. The firm has a 50-day moving average of $22.72. Liftoff Mobile has a 1-year low of $17.90 and a 1-year high of $30.10.

Liftoff Mobile (NASDAQ:LFTOGet Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.49. The company had revenue of $219.51 million for the quarter. As a group, equities research analysts forecast that Liftoff Mobile will post 0.7 EPS for the current fiscal year.

Liftoff Mobile Company Profile

(Get Free Report)

Liftoff Mobile Inc provides marketing and monetization solutions for the mobile app economy. Liftoff Mobile Inc is based in REDWOOD CITY, Calif.

Further Reading

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