VELA Investment Management LLC Reduces Stake in Criteo S.A. $CRTO

VELA Investment Management LLC trimmed its holdings in shares of Criteo S.A. (NASDAQ:CRTO) by 5.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 777,671 shares of the information services provider’s stock after selling 44,799 shares during the quarter. Criteo makes up approximately 3.0% of VELA Investment Management LLC’s investment portfolio, making the stock its 2nd biggest holding. VELA Investment Management LLC owned about 1.59% of Criteo worth $14,216,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Criteo by 61.1% during the second quarter. GAMMA Investing LLC now owns 3,465 shares of the information services provider’s stock worth $63,000 after buying an additional 1,314 shares during the period. Parallel Advisors LLC increased its holdings in shares of Criteo by 357.9% in the 1st quarter. Parallel Advisors LLC now owns 4,126 shares of the information services provider’s stock valued at $74,000 after acquiring an additional 3,225 shares during the period. Janus Henderson Group PLC raised its position in shares of Criteo by 4.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,769,644 shares of the information services provider’s stock worth $31,774,000 after acquiring an additional 77,145 shares in the last quarter. Amundi lifted its stake in shares of Criteo by 24.2% during the 1st quarter. Amundi now owns 69,835 shares of the information services provider’s stock worth $1,252,000 after purchasing an additional 13,623 shares during the last quarter. Finally, Senvest Management LLC lifted its stake in shares of Criteo by 4.5% during the 1st quarter. Senvest Management LLC now owns 4,597,322 shares of the information services provider’s stock worth $82,430,000 after purchasing an additional 200,000 shares during the last quarter. Institutional investors own 94.27% of the company’s stock.

Criteo Stock Performance

Shares of Criteo stock opened at $17.62 on Monday. The firm’s 50 day simple moving average is $19.74 and its two-hundred day simple moving average is $18.54. The firm has a market capitalization of $863.38 million, a price-to-earnings ratio of 8.94 and a beta of 0.27. Criteo S.A. has a 12-month low of $15.57 and a 12-month high of $25.29.

Criteo (NASDAQ:CRTO) last posted its quarterly earnings data on Wednesday, August 5th. The information services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.71 by $0.09. Criteo had a net margin of 5.60% and a return on equity of 14.33%. The business had revenue of $428.02 million during the quarter, compared to the consensus estimate of $263.40 million. During the same period in the previous year, the firm posted $0.92 earnings per share. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. On average, sell-side analysts predict that Criteo S.A. will post 2.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Sarah Glickman sold 6,285 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $17.23, for a total value of $108,290.55. Following the transaction, the chief financial officer directly owned 424,612 shares of the company’s stock, valued at approximately $7,316,064.76. This represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael Komasinski sold 1,656 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $17.28, for a total value of $28,615.68. Following the completion of the transaction, the chief executive officer owned 343,891 shares of the company’s stock, valued at approximately $5,942,436.48. The trade was a 0.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 30,725 shares of company stock valued at $529,527. 1.52% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CRTO has been the topic of several analyst reports. Sanford C. Bernstein lowered Criteo from an “outperform” rating to a “market perform” rating and cut their target price for the company from $35.00 to $20.50 in a research note on Thursday, August 6th. Huber Research lowered shares of Criteo from an “overweight” rating to an “underweight” rating in a research report on Monday, August 24th. Zacks Research cut shares of Criteo from a “hold” rating to a “strong sell” rating in a report on Monday, August 24th. Morgan Stanley reduced their price objective on shares of Criteo from $29.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, August 6th. Finally, Benchmark decreased their target price on shares of Criteo from $25.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.65.

Criteo Company Profile

Criteo is a global technology company specializing in digital performance advertising and commerce media solutions. The company provides a range of AI-driven ad products designed to help brands, retailers, and agencies deliver personalized promotional messages to consumers across web, mobile, and connected TV environments. By leveraging large-scale data analytics and machine learning algorithms, Criteo’s platform optimizes the timing, placement, and creative of ads to drive engagement and conversions.

At the core of Criteo’s offering is its dynamic retargeting solution, which enables advertisers to automatically generate and display personalized product recommendations based on user behavior.