Vimeo, Inc. (NASDAQ:VMEO) Sees Significant Decline in Short Interest

Vimeo, Inc. (NASDAQ:VMEO) was the recipient of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 3,620,000 shares, a decline of 16.8% from the July 31st total of 4,350,000 shares. Based on an average trading volume of 1,530,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 2.5% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on VMEO shares. Piper Sandler boosted their price objective on Vimeo from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Truist Financial boosted their price target on shares of Vimeo from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th.

Vimeo Stock Performance

NASDAQ:VMEO opened at $5.35 on Friday. The business’s fifty day moving average is $4.21 and its 200 day moving average is $4.14. The firm has a market cap of $887.03 million, a price-to-earnings ratio of 31.47 and a beta of 2.03. Vimeo has a 52-week low of $3.02 and a 52-week high of $5.77.

Vimeo (NASDAQ:VMEO) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. Vimeo had a return on equity of 8.59% and a net margin of 7.85%. The firm had revenue of $104.38 million for the quarter, compared to analysts’ expectations of $99.45 million. During the same period in the prior year, the business posted $0.03 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. Equities analysts predict that Vimeo will post 0.06 EPS for the current fiscal year.

Insider Buying and Selling at Vimeo

In related news, CEO Philip D. Moyer purchased 32,051 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $4.67 per share, for a total transaction of $149,678.17. Following the purchase, the chief executive officer now directly owns 1,712,490 shares in the company, valued at approximately $7,997,328.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.30% of the company’s stock.

Institutional Trading of Vimeo

Institutional investors and hedge funds have recently bought and sold shares of the company. Aristides Capital LLC purchased a new position in shares of Vimeo during the 2nd quarter valued at $670,000. Susquehanna Fundamental Investments LLC grew its position in Vimeo by 4.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 286,749 shares of the company’s stock worth $1,070,000 after buying an additional 11,326 shares in the last quarter. Lynrock Lake LP grew its position in Vimeo by 124.9% during the second quarter. Lynrock Lake LP now owns 15,731,386 shares of the company’s stock worth $58,678,000 after buying an additional 8,735,044 shares in the last quarter. Mackenzie Financial Corp increased its stake in Vimeo by 171.4% in the 2nd quarter. Mackenzie Financial Corp now owns 200,627 shares of the company’s stock worth $748,000 after acquiring an additional 126,706 shares during the last quarter. Finally, Divisar Capital Management LLC boosted its position in shares of Vimeo by 10.5% during the 2nd quarter. Divisar Capital Management LLC now owns 8,388,993 shares of the company’s stock valued at $31,291,000 after acquiring an additional 800,000 shares during the last quarter. 84.97% of the stock is currently owned by hedge funds and other institutional investors.

About Vimeo

Vimeo, Inc, together with its subsidiaries, provides video software solutions worldwide. It provides the video tools through a software-as-a-service model, which enables its users to create, collaborate, and communicate with video on a single platform. The company also offers over-the-top OTT streaming and monetization services; AI-driven video creation and editing tools; and interactive and shoppable video tools.