M&T Bank Corp Purchases New Position in DoubleVerify Holdings, Inc. (NYSE:DV)

M&T Bank Corp acquired 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 SEC. The institutional investor acquired 22,790 shares of the company’s stock, valued at approximately $384,000.

A number of other hedge funds have also recently added to or reduced their stakes in DV. CWM LLC raised its position in DoubleVerify by 212.5% in the second quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after purchasing an additional 1,900 shares during the last quarter. Fifth Third Bancorp boosted its position in DoubleVerify by 72.3% during the 2nd quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after buying an additional 1,742 shares during the period. Louisiana State Employees Retirement System boosted its position in DoubleVerify by 2.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 70,900 shares of the company’s stock worth $1,380,000 after buying an additional 1,900 shares during the period. Townsend Asset Management Corp NC ADV grew its holdings in DoubleVerify by 174.2% during the 2nd quarter. Townsend Asset Management Corp NC ADV now owns 30,465 shares of the company’s stock worth $593,000 after acquiring an additional 19,355 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in DoubleVerify by 29.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,572 shares of the company’s stock valued at $712,000 after acquiring an additional 8,335 shares during the period. Institutional investors and hedge funds own 97.29% of the company’s stock.

DoubleVerify Trading Down 0.5 %

Shares of NYSE DV opened at $19.85 on Thursday. The firm’s 50-day moving average price is $19.02 and its 200-day moving average price is $18.90. The firm has a market capitalization of $3.36 billion, a P/E ratio of 53.65, a P/E/G ratio of 3.29 and a beta of 0.97. DoubleVerify Holdings, Inc. has a 1-year low of $16.11 and a 1-year high of $43.00.

DoubleVerify declared that its Board of Directors has initiated a share repurchase plan on Wednesday, November 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

DV has been the topic of a number of recent research reports. Macquarie reiterated an “outperform” rating and set a $19.00 price target on shares of DoubleVerify in a report on Thursday, November 7th. Morgan Stanley cut their target price on DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Wells Fargo & Company started coverage on DoubleVerify in a research note on Monday, October 28th. They issued an “underweight” rating and a $14.00 price target for the company. JMP Securities cut their price objective on DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Scotiabank initiated coverage on shares of DoubleVerify in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.11.

Insider Buying and Selling

In related news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $20.30, for a total value of $35,809.20. Following the completion of the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at approximately $1,656,439.40. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 8,820 shares of company stock valued at $155,444. 3.00% of the stock is owned by company insiders.

About DoubleVerify

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.