Calamos Advisors LLC Purchases New Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Calamos Advisors LLC acquired a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,505 shares of the company’s stock, valued at approximately $233,000.

Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Grid Dynamics by 147.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,246 shares of the company’s stock worth $203,000 after buying an additional 9,081 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of Grid Dynamics by 41.1% during the fourth quarter. Mutual of America Capital Management LLC now owns 209,208 shares of the company’s stock worth $2,789,000 after buying an additional 60,906 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Grid Dynamics during the fourth quarter worth $26,000. Arizona State Retirement System increased its holdings in Grid Dynamics by 5.3% in the fourth quarter. Arizona State Retirement System now owns 16,849 shares of the company’s stock valued at $225,000 after purchasing an additional 855 shares during the period. Finally, Trust Point Inc. acquired a new stake in Grid Dynamics in the fourth quarter valued at $317,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Grid Dynamics

In other news, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $13.06, for a total transaction of $195,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,275,442 shares in the company, valued at approximately $29,717,272.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $13.06, for a total value of $195,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,275,442 shares in the company, valued at $29,717,272.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anil Doradla sold 4,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $13.26, for a total transaction of $53,040.00. Following the completion of the sale, the chief financial officer now directly owns 395,568 shares of the company’s stock, valued at $5,245,231.68. The disclosure for this sale can be found here. Insiders have sold 90,884 shares of company stock valued at $1,159,755 in the last 90 days. 7.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citigroup decreased their price target on Grid Dynamics from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday. Cantor Fitzgerald raised their target price on Grid Dynamics from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. Finally, JPMorgan Chase & Co. raised their target price on Grid Dynamics from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Four analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $15.75.

Grid Dynamics Stock Up 0.2 %

Grid Dynamics stock opened at $10.38 on Tuesday. Grid Dynamics Holdings, Inc. has a 52 week low of $8.00 and a 52 week high of $14.70. The company’s 50 day moving average price is $12.41 and its two-hundred day moving average price is $12.49. The stock has a market cap of $788.57 million, a P/E ratio of -345.88 and a beta of 0.94.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Grid Dynamics had a positive return on equity of 6.77% and a negative net margin of 0.56%. The company had revenue of $78.07 million during the quarter, compared to the consensus estimate of $76.64 million. During the same period last year, the firm posted $0.14 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.07 EPS for the current year.

About Grid Dynamics

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.