TCW Group Inc. Lowers Position in DoubleVerify Holdings, Inc. (NYSE:DV)

TCW Group Inc. decreased its stake in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,051 shares of the company’s stock after selling 3,508 shares during the period. TCW Group Inc.’s holdings in DoubleVerify were worth $1,510,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of DoubleVerify by 15.1% during the 3rd quarter. Vanguard Group Inc. now owns 13,493,302 shares of the company’s stock worth $377,138,000 after buying an additional 1,768,064 shares during the last quarter. Wellington Management Group LLP increased its stake in DoubleVerify by 19.2% during the third quarter. Wellington Management Group LLP now owns 2,734,735 shares of the company’s stock worth $76,436,000 after acquiring an additional 441,278 shares during the last quarter. Invesco Ltd. raised its holdings in shares of DoubleVerify by 18.1% in the 3rd quarter. Invesco Ltd. now owns 2,651,003 shares of the company’s stock worth $74,096,000 after purchasing an additional 406,444 shares during the period. Van Berkom & Associates Inc. raised its holdings in shares of DoubleVerify by 34.7% in the 3rd quarter. Van Berkom & Associates Inc. now owns 2,643,235 shares of the company’s stock worth $73,878,000 after purchasing an additional 681,396 shares during the period. Finally, Riverbridge Partners LLC lifted its stake in shares of DoubleVerify by 70.5% in the 4th quarter. Riverbridge Partners LLC now owns 2,319,975 shares of the company’s stock valued at $85,329,000 after purchasing an additional 959,514 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

DoubleVerify Stock Up 0.6 %

Shares of DV traded up $0.11 during midday trading on Friday, hitting $18.76. The company had a trading volume of 3,311,952 shares, compared to its average volume of 4,303,793. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 49.37, a PEG ratio of 2.71 and a beta of 1.11. The company’s 50 day moving average price is $28.60 and its 200 day moving average price is $33.49. DoubleVerify Holdings, Inc. has a 52 week low of $17.74 and a 52 week high of $43.00.

DoubleVerify (NYSE:DV) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. DoubleVerify had a return on equity of 6.46% and a net margin of 11.25%. The firm had revenue of $140.70 million during the quarter, compared to analyst estimates of $138.25 million. During the same period in the previous year, the company earned $0.07 earnings per share. DoubleVerify’s quarterly revenue was up 14.8% on a year-over-year basis. Equities analysts anticipate that DoubleVerify Holdings, Inc. will post 0.33 EPS for the current fiscal year.

DoubleVerify announced that its board has authorized a share repurchase program on Thursday, May 16th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Robert W. Baird dropped their target price on shares of DoubleVerify from $42.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. JPMorgan Chase & Co. dropped their price objective on shares of DoubleVerify from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. KeyCorp lowered shares of DoubleVerify from an “overweight” rating to a “sector weight” rating in a report on Wednesday, May 8th. Barclays lowered their price target on DoubleVerify from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Finally, JMP Securities reduced their price objective on DoubleVerify from $40.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, DoubleVerify has a consensus rating of “Moderate Buy” and an average target price of $35.05.

Insider Buying and Selling

In other DoubleVerify news, insider Andrew E. Grimmig sold 50,924 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $33.51, for a total value of $1,706,463.24. Following the sale, the insider now directly owns 39,468 shares of the company’s stock, valued at $1,322,572.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Andrew E. Grimmig sold 16,667 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $33.80, for a total value of $563,344.60. Following the completion of the transaction, the insider now owns 39,468 shares in the company, valued at approximately $1,334,018.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew E. Grimmig sold 50,924 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $33.51, for a total transaction of $1,706,463.24. Following the transaction, the insider now directly owns 39,468 shares in the company, valued at approximately $1,322,572.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,431 shares of company stock valued at $3,070,904. Insiders own 3.00% of the company’s stock.

DoubleVerify Profile

DoubleVerify Holdings, Inc provides a software platform for digital media measurement, and data analytics in the United States and internationally. The company provides solutions to advertisers that enable advertisers to increase the effectiveness and quality and return on their digital advertising investments.