Criteo S.A. $CRTO Stake Lessened by VELA Investment Management LLC

VELA Investment Management LLC cut its holdings in shares of Criteo S.A. (NASDAQ:CRTO) by 5.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 761,210 shares of the information services provider’s stock after selling 44,799 shares during the period. Criteo makes up about 3.0% of VELA Investment Management LLC’s portfolio, making the stock its 2nd largest holding. VELA Investment Management LLC owned 1.55% of Criteo worth $13,915,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its position 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 purchasing an additional 1,314 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Criteo by 357.9% during the 1st quarter. Parallel Advisors LLC now owns 4,126 shares of the information services provider’s stock worth $74,000 after buying an additional 3,225 shares during the period. Janus Henderson Group PLC raised its stake in shares of Criteo by 4.6% during 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 buying an additional 77,145 shares during the period. Amundi raised 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 buying an additional 13,623 shares during the period. Finally, Senvest Management LLC lifted its position 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 valued at $82,430,000 after buying an additional 200,000 shares in the last quarter. Hedge funds and other institutional investors own 94.27% of the company’s stock.

Criteo Price Performance

NASDAQ CRTO opened at $17.62 on Monday. The stock’s 50 day simple moving average is $19.74 and its 200-day simple moving average is $18.54. The company has a market cap of $863.38 million, a PE ratio of 8.94 and a beta of 0.27. Criteo S.A. has a 1-year low of $15.57 and a 1-year high of $25.29.

Criteo (NASDAQ:CRTO) last issued its quarterly earnings results 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 return on equity of 14.33% and a net margin of 5.60%.The firm had revenue of $428.02 million during the quarter, compared to analysts’ expectations of $263.40 million. During the same period in the previous year, the business earned $0.92 earnings per share. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. On average, equities research analysts anticipate that Criteo S.A. will post 2.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ryan Damon sold 6,178 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $17.23, for a total value of $106,446.94. Following the transaction, the insider directly owned 167,765 shares of the company’s stock, valued at approximately $2,890,590.95. This trade represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $17.28, for a total transaction of $28,615.68. Following the transaction, the chief executive officer owned 343,891 shares in the company, valued at $5,942,436.48. The trade was a 0.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 30,725 shares of company stock valued at $529,527 in the last 90 days. 1.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CRTO shares. Sanford C. Bernstein cut shares of Criteo from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $35.00 to $20.50 in a research note on Thursday, August 6th. Citigroup restated a “buy” rating on shares of Criteo in a research report on Friday, August 14th. DA Davidson reaffirmed a “buy” rating and set a $24.00 price objective on shares of Criteo in a report on Tuesday, July 7th. Huber Research lowered shares of Criteo from an “overweight” rating to an “underweight” rating in a research report on Monday, August 24th. Finally, Benchmark cut their target price on shares of Criteo from $25.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.