Bridgefront Capital LLC Raises Position in DoubleVerify Holdings, Inc. $DV

Bridgefront Capital LLC boosted its holdings in DoubleVerify Holdings, Inc. (NYSE:DV) by 179.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,280 shares of the company’s stock after purchasing an additional 54,737 shares during the period. Bridgefront Capital LLC’s holdings in DoubleVerify were worth $1,022,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DV. Bank of America Corp DE increased its holdings in shares of DoubleVerify by 31.5% in the third quarter. Bank of America Corp DE now owns 1,687,109 shares of the company’s stock worth $20,212,000 after buying an additional 404,035 shares during the period. Boothbay Fund Management LLC boosted its holdings in DoubleVerify by 11.4% during the 3rd quarter. Boothbay Fund Management LLC now owns 128,599 shares of the company’s stock valued at $1,541,000 after acquiring an additional 13,114 shares during the period. Algert Global LLC boosted its holdings in DoubleVerify by 71.3% during the 3rd quarter. Algert Global LLC now owns 1,119,179 shares of the company’s stock valued at $13,408,000 after acquiring an additional 465,913 shares during the period. Creative Planning grew its position in DoubleVerify by 56.3% during the 3rd quarter. Creative Planning now owns 40,366 shares of the company’s stock worth $484,000 after acquiring an additional 14,539 shares during the last quarter. Finally, Amundi grew its position in DoubleVerify by 48.9% during the 3rd quarter. Amundi now owns 2,321,192 shares of the company’s stock worth $26,253,000 after acquiring an additional 762,394 shares during the last quarter. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

DoubleVerify Price Performance

Shares of DV opened at $10.20 on Friday. The company has a 50-day simple moving average of $10.28 and a two-hundred day simple moving average of $11.27. The firm has a market capitalization of $1.65 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 1.16 and a beta of 0.98. DoubleVerify Holdings, Inc. has a one year low of $7.64 and a one year high of $16.82.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Zacks Research downgraded DoubleVerify from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Royal Bank Of Canada cut their target price on shares of DoubleVerify from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of DoubleVerify in a report on Wednesday, January 21st. Wells Fargo & Company increased their price target on shares of DoubleVerify from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, March 2nd. Finally, Barclays reissued an “equal weight” rating and issued a $12.00 price target on shares of DoubleVerify in a report on Monday, January 12th. Eleven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, DoubleVerify has a consensus rating of “Moderate Buy” and an average target price of $15.88.

DoubleVerify Company 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.