Man Group plc Takes $1.35 Million Position in Weave Communications, Inc. $WEAV

Man Group plc purchased a new position in shares of Weave Communications, Inc. (NYSE:WEAV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 225,108 shares of the company’s stock, valued at approximately $1,348,000.

Several other institutional investors and hedge funds have also made changes to their positions in WEAV. Hilton Head Capital Partners LLC acquired a new stake in Weave Communications in the 4th quarter valued at about $26,000. Amundi raised its position in Weave Communications by 27.1% during the first quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after acquiring an additional 1,130 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Weave Communications in the second quarter valued at about $38,000. Optiver Holding B.V. lifted its holdings in shares of Weave Communications by 1,201.2% in the first quarter. Optiver Holding B.V. now owns 7,339 shares of the company’s stock valued at $34,000 after purchasing an additional 6,775 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Weave Communications by 119.7% in the second quarter. Tower Research Capital LLC TRC now owns 8,683 shares of the company’s stock valued at $72,000 after purchasing an additional 4,731 shares in the last quarter. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Weave Communications Stock Up 0.1%

Shares of NYSE:WEAV opened at $7.30 on Thursday. The stock’s 50-day moving average price is $6.62 and its two-hundred day moving average price is $5.74. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a 12-month low of $4.24 and a 12-month high of $8.00. The firm has a market cap of $584.40 million, a price-to-earnings ratio of -29.22 and a beta of 1.69.

Weave Communications (NYSE:WEAV) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The company had revenue of $67.54 million during the quarter, compared to the consensus estimate of $67.88 million. Weave Communications had a negative net margin of 7.97% and a negative return on equity of 21.14%. On average, research analysts forecast that Weave Communications, Inc. will post -0.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on WEAV shares. Raymond James Financial cut shares of Weave Communications from an “outperform” rating to a “market perform” rating in a research note on Monday, August 24th. Wall Street Zen lowered Weave Communications from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Weave Communications in a report on Wednesday, July 8th. B. Riley Financial downgraded Weave Communications from a “buy” rating to a “hold” rating and dropped their price target for the stock from $8.25 to $7.40 in a research report on Wednesday, August 19th. Finally, Piper Sandler cut Weave Communications from an “overweight” rating to a “hold” rating and cut their price target for the stock from $8.00 to $7.40 in a report on Tuesday, August 18th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Weave Communications currently has a consensus rating of “Hold” and an average price target of $7.84.

Weave Communications Company Profile

Weave Communications is a technology company that provides integrated communications and customer management solutions tailored for small- to medium-sized local businesses. Headquartered in Lehi, Utah, the company developed a cloud-based platform that unifies voice calling, business texting, appointment reminders and payment processing within a single interface.

The platform’s core offerings include a unified business phone system, two-way texting, automated appointment and recall reminders, secure payment acceptance and a basic customer relationship management module.