Saba Capital Management L.P. Has $6.11 Million Stock Position in eToro Group Ltd. $ETOR

Saba Capital Management L.P. increased its holdings in eToro Group Ltd. (NASDAQ:ETOR) by 156.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,291 shares of the company’s stock after acquiring an additional 123,952 shares during the period. Saba Capital Management L.P.’s holdings in eToro Group were worth $6,105,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ETOR. Harel Insurance Investments & Financial Services Ltd. purchased a new position in eToro Group during the 4th quarter valued at about $43,136,000. Invesco Ltd. lifted its position in shares of eToro Group by 14,120.4% in the fourth quarter. Invesco Ltd. now owns 974,243 shares of the company’s stock worth $34,225,000 after purchasing an additional 967,392 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of eToro Group by 67.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,695,702 shares of the company’s stock worth $59,571,000 after purchasing an additional 683,008 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of eToro Group during the second quarter worth approximately $43,397,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in eToro Group during the second quarter valued at approximately $33,812,000.

Insiders Place Their Bets

In related news, Director Shalev Eddy sold 100,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $41.26, for a total value of $4,126,000.00. Following the completion of the sale, the director directly owned 296,779 shares in the company, valued at approximately $12,245,101.54. This represents a 25.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Hedva Ber sold 55,160 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $41.90, for a total transaction of $2,311,204.00. Following the transaction, the chief executive officer directly owned 20,660 shares in the company, valued at $865,654. The trade was a 72.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ETOR shares. Jefferies Financial Group upped their price objective on shares of eToro Group from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, April 6th. TD Cowen lifted their target price on shares of eToro Group from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Wall Street Zen raised shares of eToro Group from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Zacks Research lowered eToro Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, Susquehanna lifted their price objective on eToro Group from $55.00 to $57.00 and gave the company a “positive” rating in a research report on Wednesday, May 13th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.80.

eToro Group Trading Up 2.8%

NASDAQ:ETOR opened at $37.81 on Tuesday. The stock’s 50 day moving average price is $39.05 and its 200 day moving average price is $34.65. eToro Group Ltd. has a 52 week low of $24.74 and a 52 week high of $65.95. The company has a market capitalization of $3.13 billion, a P/E ratio of 15.82, a P/E/G ratio of 0.80 and a beta of 1.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.92 and a current ratio of 3.92.

eToro Group (NASDAQ:ETOR) last posted its earnings results on Tuesday, May 12th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.21. The firm had revenue of $2.44 billion during the quarter. eToro Group had a net margin of 1.90% and a return on equity of 19.79%. eToro Group’s revenue was down 35.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. On average, research analysts forecast that eToro Group Ltd. will post 2.81 EPS for the current fiscal year.

About eToro Group

eToro Group Ltd. (NASDAQ: ETOR) is a global multi-asset brokerage company known for its social trading platform. The company enables individual and institutional investors to trade and invest in a broad range of financial instruments, including stocks, exchange-traded funds (ETFs), commodities, indices, forex, and cryptocurrencies. eToro’s platform integrates a user-friendly interface with advanced trading tools, catering to both novice and experienced market participants.

A distinguishing feature of eToro’s offering is its CopyTrader™ functionality, which allows users to replicate the trades of selected investors on the platform.