Wellington Management Group LLP Buys Shares of 184,563 Liftoff Mobile, Inc. $LFTO

Wellington Management Group LLP purchased a new stake in Liftoff Mobile, Inc. (NASDAQ:LFTO) in the second quarter, HoldingsChannel reports. The firm purchased 184,563 shares of the company’s stock, valued at approximately $4,433,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE acquired a new position in Liftoff Mobile during the second quarter worth about $1,282,000. Legal & General Group Plc acquired a new stake in shares of Liftoff Mobile in the second quarter valued at approximately $486,000. Finally, WT Asset Management Ltd purchased a new position in shares of Liftoff Mobile during the 2nd quarter worth approximately $480,000.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LFTO shares. Jefferies Financial Group assumed coverage on Liftoff Mobile in a research note on Monday, June 29th. They issued a “buy” rating and a $34.00 target price on the stock. BTIG Research reissued a “buy” rating and issued a $35.00 price target on shares of Liftoff Mobile in a report on Thursday, August 13th. Tigress Financial upped their price objective on Liftoff Mobile from $39.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. Morgan Stanley started coverage on Liftoff Mobile in a research note on Monday, June 29th. They set an “equal weight” rating and a $30.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (e)” rating on shares of Liftoff Mobile in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.85.

Liftoff Mobile Stock Performance

LFTO stock opened at $18.50 on Thursday. Liftoff Mobile, Inc. has a 52-week low of $17.90 and a 52-week high of $30.10. The business’s fifty day simple moving average is $21.73.

Liftoff Mobile (NASDAQ:LFTO) last released its earnings results on Wednesday, August 12th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.49. The business had revenue of $219.51 million during the quarter. As a group, equities research analysts predict that Liftoff Mobile, Inc. will post 0.7 EPS for the current fiscal year.

Liftoff Mobile Profile

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