Actua Corporation (NASDAQ:ACTA) Raised to “Hold” at Zacks Investment Research
Actua Corporation (NASDAQ:ACTA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, July 4th.
According to Zacks, “Actua Corporation is a multi-vertical cloud company. The Company brings the power of the cloud to vertical markets and processes, including insurance, public sector communications and compliance. It operates in two business segments: the core reporting segment and the venture reporting segment. The Company’s core reporting segment includes those companies in which its management provides strategic direction and management assistance. Its venture reporting segment includes companies to which it generally devote less capital than it does to its core companies and, therefore, in which it holds relatively smaller ownership stakes than it does in the core companies. Actua Corporation, formerly known as ICG Group Inc Common Stock, is based in Radnor, Pennsylvania. “
Separately, Barrington Research reissued an “outperform” rating and issued a $17.00 price objective (up previously from $16.00) on shares of Actua Corporation in a research note on Friday, March 10th.
Actua Corporation (NASDAQ ACTA) traded down 0.77% during trading on Tuesday, hitting $12.90. The stock had a trading volume of 49,254 shares. The company has a 50 day moving average of $13.96 and a 200-day moving average of $14.01. The company has a market cap of $410.36 million, a P/E ratio of 6.11 and a beta of 1.62. Actua Corporation has a 12-month low of $9.42 and a 12-month high of $15.27.
Actua Corporation (NASDAQ:ACTA) last announced its quarterly earnings results on Thursday, May 4th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.01. The company had revenue of $30.50 million for the quarter, compared to analyst estimates of $29.43 million. Actua Corporation had a negative return on equity of 6.45% and a net margin of 60.05%. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.11) earnings per share. On average, equities analysts predict that Actua Corporation will post ($0.12) EPS for the current year.
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Several institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its position in Actua Corporation by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 127,085 shares of the software maker’s stock worth $1,786,000 after buying an additional 703 shares during the period. Trexquant Investment LP bought a new position in Actua Corporation during the second quarter worth about $149,000. Strs Ohio acquired a new stake in Actua Corporation during the second quarter worth $217,000. Aperio Group LLC acquired a new stake in Actua Corporation during the second quarter worth $193,000. Finally, Credit Suisse AG raised its stake in Actua Corporation by 71.7% in the first quarter. Credit Suisse AG now owns 122,794 shares of the software maker’s stock worth $1,725,000 after buying an additional 51,298 shares in the last quarter. 73.91% of the stock is currently owned by institutional investors.
Actua Corporation Company Profile
Actua Corporation, formerly ICG Group, Inc, is a multi-vertical cloud technology company. The Company operates through two segments, which include the vertical cloud segment and the vertical cloud (venture) segment. The Company’s vertical cloud-based businesses include Bolt Solutions Inc (Bolt), Folio Dynamics Holdings Inc (FolioDynamix), GovDelivery Holdings, Inc (GovDelivery) and VelocityEHS Holdings, Inc (VelocityEHS), which operate in the commercial and personal property and casualty insurance, wealth management, government communications and environmental, health and safety (EH&S) markets, respectively.
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