Investors Buy High Volume of Liftoff Mobile Put Options (NASDAQ:LFTO)

Liftoff Mobile, Inc. (NASDAQ:LFTO) saw unusually large options trading on Tuesday. Traders bought 2,122 put options on the company. This is an increase of approximately 759% compared to the typical daily volume of 247 put options.

Insider Buying and Selling at Liftoff Mobile

In other news, Director Atlantic Genpar L.P. General acquired 1,304,347 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was acquired at an average price of $23.00 per share, for a total transaction of $29,999,981.00. Following the completion of the acquisition, the director directly owned 25,315,646 shares in the company, valued at $582,259,858. This represents a 5.43% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Institutional Trading of Liftoff Mobile

A number of hedge funds have recently modified their holdings of the business. Alyeska Investment Group L.P. acquired a new stake in shares of Liftoff Mobile in the second quarter worth $14,412,000. WT Asset Management Ltd acquired a new position in Liftoff Mobile during the second quarter valued at $480,000. Bank of America Corp DE acquired a new position in Liftoff Mobile during the second quarter valued at $1,282,000. Wellington Management Group LLP purchased a new stake in Liftoff Mobile in the 2nd quarter worth about $4,433,000. Finally, Legal & General Group Plc purchased a new stake in Liftoff Mobile in the 2nd quarter worth about $486,000.

Liftoff Mobile Trading Down 0.4%

LFTO traded down $0.08 during trading on Tuesday, reaching $18.50. The company had a trading volume of 256,129 shares, compared to its average volume of 862,765. The company has a 50-day moving average of $22.72. Liftoff Mobile has a 12-month low of $17.90 and a 12-month high of $30.10.

Liftoff Mobile (NASDAQ:LFTO) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.49. The firm had revenue of $219.51 million for the quarter. On average, research analysts predict that Liftoff Mobile will post 0.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on LFTO. Tigress Financial began coverage on Liftoff Mobile in a report on Monday, July 13th. They set a “buy” rating and a $39.00 target price on the stock. Raymond James Financial restated an “outperform” rating and set a $33.00 price objective on shares of Liftoff Mobile in a research report on Thursday, August 13th. Zacks Research raised shares of Liftoff Mobile to a “hold” rating in a research note on Tuesday, June 30th. UBS Group boosted their target price on shares of Liftoff Mobile from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Finally, Barclays assumed coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They set an “overweight” rating and a $34.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.69.

About Liftoff Mobile

Liftoff Mobile Inc provides marketing and monetization solutions for the mobile app economy. Liftoff Mobile Inc is based in REDWOOD CITY, Calif.