Connor Clark & Lunn Investment Management Ltd. Acquires New Holdings in DoubleVerify Holdings, Inc. (NYSE:DV)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) during the third quarter, Holdings Channel reports. The fund bought 126,342 shares of the company’s stock, valued at approximately $2,128,000.

A number of other institutional investors have also recently added to or reduced their stakes in DV. Assenagon Asset Management S.A. bought a new stake in shares of DoubleVerify in the 2nd quarter valued at $73,268,000. Burgundy Asset Management Ltd. acquired a new position in shares of DoubleVerify during the second quarter worth approximately $54,099,000. Mackenzie Financial Corp bought a new position in shares of DoubleVerify in the second quarter valued at $53,015,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of DoubleVerify in the 2nd quarter worth about $13,000,000. Finally, Dimensional Fund Advisors LP lifted its position in DoubleVerify by 36.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,422,061 shares of the company’s stock valued at $47,154,000 after acquiring an additional 643,679 shares in the last quarter. 97.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on DV. Needham & Company LLC reiterated a “buy” rating and set a $33.00 price target on shares of DoubleVerify in a report on Tuesday, September 17th. Wells Fargo & Company started coverage on shares of DoubleVerify in a research note on Monday, October 28th. They set an “underweight” rating and a $14.00 price target for the company. Stifel Nicolaus decreased their price objective on DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 14th. Morgan Stanley reduced their price objective on shares of DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, JMP Securities decreased their price target on DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, DoubleVerify presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.47.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $16.92, for a total value of $29,846.88. Following the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at $1,380,638.16. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 8,820 shares of company stock worth $155,444 over the last three months. Company insiders own 3.00% of the company’s stock.

DoubleVerify Price Performance

Shares of NYSE DV opened at $20.63 on Tuesday. DoubleVerify Holdings, Inc. has a one year low of $16.11 and a one year high of $43.00. The firm’s 50 day simple moving average is $17.88 and its two-hundred day simple moving average is $18.72. The stock has a market capitalization of $3.49 billion, a P/E ratio of 55.76, a PEG ratio of 3.18 and a beta of 0.90.

DoubleVerify announced that its Board of Directors has authorized a share buyback program on Wednesday, November 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

DoubleVerify Profile

DoubleVerify Holdings, Inc provides a software platform for digital media measurement, and data analytics in the United States and internationally. The company provides solutions to advertisers that enable advertisers to increase the effectiveness and quality and return on their digital advertising investments.