Connor Clark & Lunn Investment Management Ltd. Makes New $3.93 Million Investment in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 176,843 shares of the company’s stock, valued at approximately $3,933,000. Connor Clark & Lunn Investment Management Ltd. owned 0.21% of Grid Dynamics at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GDYN. Global Retirement Partners LLC acquired a new position in Grid Dynamics in the fourth quarter worth $27,000. FMR LLC boosted its holdings in Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after purchasing an additional 801 shares during the period. MCF Advisors LLC boosted its holdings in shares of Grid Dynamics by 65.8% during the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock valued at $41,000 after acquiring an additional 740 shares during the period. Quarry LP boosted its holdings in shares of Grid Dynamics by 131.5% during the third quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after acquiring an additional 2,974 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Grid Dynamics during the third quarter valued at $122,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Stock Up 2.8 %

Shares of NASDAQ GDYN opened at $16.82 on Monday. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $25.50. The firm’s 50-day simple moving average is $20.84 and its 200 day simple moving average is $18.20. The stock has a market cap of $1.41 billion, a P/E ratio of 420.50 and a beta of 1.10.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The company had revenue of $100.28 million for the quarter, compared to the consensus estimate of $96.00 million. On average, sell-side analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $24.09, for a total value of $48,180.00. Following the sale, the chief financial officer now directly owns 341,012 shares in the company, valued at approximately $8,214,979.08. The trade was a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Yury Gryzlov sold 10,306 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total transaction of $192,309.96. Following the completion of the sale, the chief operating officer now owns 482,759 shares in the company, valued at approximately $9,008,282.94. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,306 shares of company stock worth $376,590 over the last ninety days. 7.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC boosted their price target on shares of Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, February 21st. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Grid Dynamics presently has a consensus rating of “Buy” and a consensus target price of $19.60.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.