FourWorld Capital Management LLC Buys Shares of 100,000 TaskUs, Inc. $TASK

FourWorld Capital Management LLC purchased a new position in shares of TaskUs, Inc. (NASDAQ:TASK) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 100,000 shares of the company’s stock, valued at approximately $1,676,000. TaskUs makes up approximately 1.1% of FourWorld Capital Management LLC’s portfolio, making the stock its 11th biggest position. FourWorld Capital Management LLC owned about 0.11% of TaskUs as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd acquired a new stake in shares of TaskUs in the second quarter valued at about $16,325,000. Calamos Advisors LLC acquired a new position in shares of TaskUs in the 2nd quarter worth approximately $8,212,000. Think Investments LP lifted its holdings in shares of TaskUs by 14.8% during the second quarter. Think Investments LP now owns 3,734,665 shares of the company’s stock valued at $62,593,000 after acquiring an additional 481,307 shares during the period. Alpine Associates Management Inc. bought a new stake in TaskUs during the second quarter worth about $4,370,000. Finally, Tocqueville Asset Management L.P. acquired a new position in TaskUs in the first quarter worth $2,576,000. 44.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TASK shares. Robert W. Baird boosted their price objective on shares of TaskUs from $16.50 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Weiss Ratings reissued a “hold (c)” rating on shares of TaskUs in a research note on Wednesday, October 8th. Morgan Stanley cut TaskUs from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $21.00 to $16.50 in a report on Tuesday, September 9th. The Goldman Sachs Group raised TaskUs to a “strong sell” rating in a research note on Monday, November 10th. Finally, Zacks Research downgraded shares of TaskUs from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.17.

TaskUs Trading Down 2.3%

NASDAQ:TASK opened at $12.22 on Friday. The business’s 50-day simple moving average is $12.75 and its 200-day simple moving average is $15.62. TaskUs, Inc. has a fifty-two week low of $10.68 and a fifty-two week high of $18.60. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.89 and a quick ratio of 2.89. The stock has a market capitalization of $1.10 billion, a PE ratio of 13.73 and a beta of 2.12.

TaskUs (NASDAQ:TASK) last issued its quarterly earnings data on Friday, November 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The company had revenue of $298.71 million during the quarter, compared to the consensus estimate of $286.71 million. TaskUs had a net margin of 7.11% and a return on equity of 21.27%. Sell-side analysts expect that TaskUs, Inc. will post 0.9 earnings per share for the current fiscal year.

About TaskUs

TaskUs, Inc provides digital outsourcing services for companies in Philippines, the United States, India, and internationally. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through non-voice digital channels; and other solutions, including experience and customer care services for new product or market launches, and customer acquisition solutions.