Magnetar Financial LLC Buys New Stake in DoubleVerify Holdings, Inc. $DV

Magnetar Financial LLC purchased a new position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 179,557 shares of the company’s stock, valued at approximately $2,151,000. Magnetar Financial LLC owned about 0.11% of DoubleVerify at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DV. California State Teachers Retirement System raised its position in shares of DoubleVerify by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 133,120 shares of the company’s stock worth $1,993,000 after acquiring an additional 754 shares in the last quarter. Woodline Partners LP boosted its holdings in DoubleVerify by 2.5% in the first quarter. Woodline Partners LP now owns 30,825 shares of the company’s stock valued at $412,000 after purchasing an additional 762 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in DoubleVerify by 5.4% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,362 shares of the company’s stock valued at $230,000 after purchasing an additional 785 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in DoubleVerify by 3.1% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,628 shares of the company’s stock worth $518,000 after purchasing an additional 1,028 shares in the last quarter. Finally, Clearstead Advisors LLC raised its holdings in DoubleVerify by 210.0% during the third quarter. Clearstead Advisors LLC now owns 2,055 shares of the company’s stock worth $25,000 after purchasing an additional 1,392 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of DoubleVerify from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, March 2nd. Morgan Stanley boosted their price target on shares of DoubleVerify from $15.00 to $15.50 and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Zacks Research downgraded shares of DoubleVerify from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DoubleVerify in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada reduced their target price on DoubleVerify from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.88.

DoubleVerify Price Performance

Shares of NYSE:DV opened at $10.34 on Friday. DoubleVerify Holdings, Inc. has a 1-year low of $7.64 and a 1-year high of $16.82. The stock has a market cap of $1.67 billion, a P/E ratio of 34.47, a P/E/G ratio of 1.20 and a beta of 0.98. The firm has a fifty day moving average price of $10.30 and a 200 day moving average price of $11.34.

DoubleVerify (NYSE:DV) last announced its earnings results on Thursday, February 26th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). DoubleVerify had a net margin of 6.77% and a return on equity of 7.50%. The business had revenue of $205.59 million during the quarter, compared to analysts’ expectations of $208.77 million. During the same period in the previous year, the company posted $0.13 earnings per share. DoubleVerify’s quarterly revenue was up 7.9% on a year-over-year basis. Sell-side analysts expect that DoubleVerify Holdings, Inc. will post 0.36 EPS for the current fiscal year.

DoubleVerify Profile

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.