Invenomic Capital Management LP Acquires New Stake in DoubleVerify Holdings, Inc. $DV

Invenomic Capital Management LP bought a new stake in DoubleVerify Holdings, Inc. (NYSE:DV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,808,905 shares of the company’s stock, valued at approximately $21,671,000. DoubleVerify comprises approximately 1.0% of Invenomic Capital Management LP’s investment portfolio, making the stock its 27th biggest position. Invenomic Capital Management LP owned about 1.12% of DoubleVerify as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. California State Teachers Retirement System raised its position in shares of DoubleVerify by 0.6% in the second quarter. California State Teachers Retirement System now owns 133,120 shares of the company’s stock valued at $1,993,000 after buying an additional 754 shares during the last quarter. Woodline Partners LP increased its stake 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 during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in DoubleVerify by 5.4% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,362 shares of the company’s stock worth $230,000 after buying an additional 785 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position 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 buying an additional 1,028 shares during the period. Finally, Clearstead Advisors LLC boosted its stake in DoubleVerify by 210.0% in the 3rd quarter. Clearstead Advisors LLC now owns 2,055 shares of the company’s stock worth $25,000 after buying an additional 1,392 shares during the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on DV. Barclays reaffirmed an “equal weight” rating and set a $12.00 price objective on shares of DoubleVerify in a research note on Monday, January 12th. Royal Bank Of Canada decreased their price target 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. Morgan Stanley upped their price objective on DoubleVerify from $15.00 to $15.50 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Canaccord Genuity Group lowered their price target on DoubleVerify from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DoubleVerify in a research note on Wednesday, January 21st. Eleven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, DoubleVerify presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.88.

DoubleVerify Trading Down 1.6%

NYSE:DV opened at $10.20 on Monday. The firm’s fifty day simple moving average is $10.28 and its 200 day simple moving average is $11.23. DoubleVerify Holdings, Inc. has a twelve month low of $7.64 and a twelve month high of $16.82. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 1.16 and a beta of 0.98.

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

About DoubleVerify

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.