Bank of Nova Scotia Acquires New Holdings in DoubleVerify Holdings, Inc. $DV

Bank of Nova Scotia bought a new stake in shares of DoubleVerify Holdings, Inc. (NYSE:DV) in the second quarter, Holdings Channel.com reports. The firm bought 158,065 shares of the company’s stock, valued at approximately $1,713,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in shares of DoubleVerify during the second quarter valued at approximately $27,000. Quadrant Capital Group LLC grew its holdings in DoubleVerify by 154.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,458 shares of the company’s stock worth $28,000 after buying an additional 1,492 shares in the last quarter. UMB Bank n.a. grew its holdings in DoubleVerify by 124.3% in the 4th quarter. UMB Bank n.a. now owns 2,757 shares of the company’s stock worth $32,000 after buying an additional 1,528 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in DoubleVerify in the 2nd quarter valued at approximately $36,000. Finally, Tower Research Capital LLC TRC increased its position in DoubleVerify by 253.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,709 shares of the company’s stock valued at $56,000 after acquiring an additional 2,660 shares during the period. Institutional investors own 97.29% of the company’s stock.

DoubleVerify Stock Performance

DV opened at $13.30 on Thursday. The business has a 50 day moving average price of $11.78 and a two-hundred day moving average price of $10.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.50 and a quick ratio of 4.50. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 36.94, a price-to-earnings-growth ratio of 1.45 and a beta of 0.98. DoubleVerify Holdings, Inc. has a 1-year low of $7.64 and a 1-year high of $16.44.

DoubleVerify (NYSE:DV) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.11. DoubleVerify had a return on equity of 8.77% and a net margin of 7.66%.The company had revenue of $193.79 million for the quarter, compared to analysts’ expectations of $202.23 million. During the same period last year, the firm earned $0.05 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Research analysts predict that DoubleVerify Holdings, Inc. will post 0.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. BMO Capital Markets set a $13.60 price target on DoubleVerify in a research report on Friday, August 7th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $13.60 price target on shares of DoubleVerify in a report on Friday, August 21st. Raymond James Financial cut shares of DoubleVerify from an “outperform” rating to a “market perform” rating in a research note on Friday, August 7th. Scotiabank downgraded shares of DoubleVerify from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $15.00 to $13.60 in a report on Friday, August 7th. Finally, Canaccord Genuity Group lowered shares of DoubleVerify from a “buy” rating to a “hold” rating and decreased their target price for the company from $16.00 to $13.60 in a research report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, DoubleVerify has an average rating of “Hold” and a consensus price target of $13.95.

DoubleVerify 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.