Kornitzer Capital Management Inc. KS Sells 541,999 Shares of DoubleVerify Holdings, Inc. $DV

Kornitzer Capital Management Inc. KS cut its stake in DoubleVerify Holdings, Inc. (NYSE:DV) by 56.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 419,814 shares of the company’s stock after selling 541,999 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.26% of DoubleVerify worth $5,029,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC boosted its stake in DoubleVerify by 11.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 13,561 shares of the company’s stock worth $162,000 after purchasing an additional 1,403 shares during the period. Bailard Inc. bought a new position in shares of DoubleVerify during the third quarter worth $128,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of DoubleVerify by 72.1% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 26,440 shares of the company’s stock worth $317,000 after acquiring an additional 11,078 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in DoubleVerify by 44.5% during the third quarter. Sequoia Financial Advisors LLC now owns 20,088 shares of the company’s stock valued at $241,000 after acquiring an additional 6,184 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in DoubleVerify in the 3rd quarter valued at $345,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

DoubleVerify Stock Down 2.2%

Shares of DV opened at $10.93 on Wednesday. The company has a market cap of $1.76 billion, a PE ratio of 43.70, a P/E/G ratio of 0.74 and a beta of 0.98. The business has a fifty day moving average of $10.92 and a 200 day moving average of $12.52. DoubleVerify Holdings, Inc. has a 52-week low of $7.64 and a 52-week high of $23.11. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 0.01.

DoubleVerify (NYSE:DV) last announced its quarterly earnings data on Friday, November 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.13. DoubleVerify had a return on equity of 6.59% and a net margin of 6.10%.The company had revenue of $188.62 million for the quarter, compared to analysts’ expectations of $190.43 million. During the same quarter in the prior year, the firm earned $0.10 earnings per share. DoubleVerify’s revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts expect that DoubleVerify Holdings, Inc. will post 0.36 EPS for the current year.

Wall Street Analyst Weigh In

DV has been the subject of several research reports. Scotiabank reissued an “outperform” rating on shares of DoubleVerify in a report on Monday, November 10th. The Goldman Sachs Group reissued a “neutral” rating and set a $13.50 price target on shares of DoubleVerify in a research note on Tuesday, October 14th. Wells Fargo & Company reduced their price objective on DoubleVerify from $13.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 21st. Morgan Stanley upped their price objective on DoubleVerify from $15.00 to $15.50 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Finally, Canaccord Genuity Group cut their target price on shares of DoubleVerify from $24.00 to $18.00 and set a “buy” rating for the company in a report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.41.

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.