Criteo SA (NASDAQ:CRTO) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,440,000 shares, a growth of 21.0% from the September 30th total of 1,190,000 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average daily volume of 386,900 shares, the short-interest ratio is currently 3.7 days.
A number of hedge funds have recently made changes to their positions in the business. DNB Asset Management AS increased its holdings in Criteo by 40.2% during the third quarter. DNB Asset Management AS now owns 2,863,379 shares of the information services provider’s stock valued at $53,517,000 after buying an additional 820,400 shares during the last quarter. Morgan Stanley boosted its position in shares of Criteo by 53.4% in the second quarter. Morgan Stanley now owns 2,546,000 shares of the information services provider’s stock worth $43,817,000 after purchasing an additional 886,050 shares during the period. Invesco Ltd. boosted its position in shares of Criteo by 12.8% in the second quarter. Invesco Ltd. now owns 2,340,569 shares of the information services provider’s stock worth $40,281,000 after purchasing an additional 264,952 shares during the period. Acadian Asset Management LLC boosted its position in shares of Criteo by 13.7% in the second quarter. Acadian Asset Management LLC now owns 2,192,422 shares of the information services provider’s stock worth $37,729,000 after purchasing an additional 264,113 shares during the period. Finally, Rice Hall James & Associates LLC boosted its position in shares of Criteo by 2.8% in the third quarter. Rice Hall James & Associates LLC now owns 1,400,056 shares of the information services provider’s stock worth $26,167,000 after purchasing an additional 37,474 shares during the period. 82.33% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on CRTO shares. Deutsche Bank decreased their price objective on shares of Criteo from $32.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, October 31st. ValuEngine cut shares of Criteo from a “sell” rating to a “strong sell” rating in a report on Friday, November 8th. BidaskClub raised shares of Criteo from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. cut shares of Criteo from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $24.00 to $16.00 in a report on Thursday, October 31st. Finally, Berenberg Bank reissued a “buy” rating and set a $34.00 price objective on shares of Criteo in a report on Friday, September 6th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Criteo currently has an average rating of “Hold” and an average price target of $22.62.
CRTO stock traded down $0.28 during midday trading on Thursday, reaching $16.93. 529,300 shares of the company’s stock traded hands, compared to its average volume of 501,414. Criteo has a 52-week low of $15.90 and a 52-week high of $30.85. The stock has a market cap of $1.13 billion, a P/E ratio of 10.32 and a beta of 0.74. The stock’s 50-day moving average is $18.44 and its 200 day moving average is $18.84.
Criteo (NASDAQ:CRTO) last announced its earnings results on Wednesday, October 30th. The information services provider reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.26. Criteo had a net margin of 3.80% and a return on equity of 11.08%. The business had revenue of $221.00 million during the quarter, compared to analysts’ expectations of $221.76 million. During the same period in the prior year, the company earned $0.53 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. Sell-side analysts anticipate that Criteo will post 1.94 earnings per share for the current fiscal year.
Criteo Company Profile
Criteo SA, a technology company, provides an advertising platform for the open Internet in France and internationally. The company's Criteo Shopper Graph, which collects clients' proprietary commerce data, such as transaction activity on their digital properties. Its Criteo AI Engine solutions include Lookalike finder algorithms; recommendation algorithms; predictive bidding algorithms; bidding engine that executes campaigns based on certain objectives set by its clients; dynamic creative optimization+, which assembles customized creative advertising content by optimizing each individual creative component in the advertisement; software systems and processes, which enable data synchronization, storage, and analysis of distributed computing infrastructure in various geographies; and experimentation platform, an offline/online platform to enhance the capabilities and effectiveness of prediction models.
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