BlackRock Fund Advisors has recently announced that it has increased stake in Outbrain Inc. (NASDAQ:OB) by 11.86%. After grabbing 2.08 million shares, the institutional investor is now in possession of 0.22 million shares of the Communication Services Company. The new investment brought the stake of investor firm to 3.97% having worth around $7.54 million. Moreover, Excellence Investments Ltd. increased its share by 0.17 million to have a control over 1.97 million shares. And The Vanguard Group, Inc. raised its holdings to 0.62 million shares by acquiring 1.69 million shares or 3.22% of the stake.
Outbrain Inc. (OB) concluded trading on 01/19/23 at a closing price of $4.16, with 0.27 million shares of worth about $1.12 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -23.95% during that period and on Thursday the price saw a gain of about 0.24%. Currently the company’s common shares owned by public are about 55.23M shares, out of which, 41.84M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the OB stock and their offered price forecasts bring an average price target of $5.92. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $9.00 and could fall to a lowest price of $4.00. The stock’s current price level is 29.73% above of average price target set by the analysts, while a rise to estimated low would result in loss of -4.0% for the stock. However, touching the estimated high of $9.00 would mean a gain of 53.78% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 43 times over the past 12 months. They bought 331,390 shares in 8 of the transactions. In 35 selling transactions, insiders dumped 3,238,826 shares.
Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Outbrain Inc. Vanguard Total Stock Market Index is currently holding 1.0 million shares of worth totaling $3.61 million. The company recently came buying 0.0 shares which brought its stake up to 1.90% of the company’s outstanding shares. iShares Russell 2000 ETF sold 8723.0 shares, after which its hold over company’s outstanding shares shrunk to 1.59%, leaving 0.84 million shares with the mutual fund that have a worth of about $3.03 million. Vanguard Extended Market Index Fu, after buying 0.48 million shares, have now control over 0.92% of the stake in the company. It holds 0.0 shares of worth $1.75 million.
Outbrain Inc. (NASDAQ: OB) started trading at $4.11, below -$0.04 from concluding price of the previous day. However, the stock later moved at a day high price of 4.2200, or with a gain of 0.24%. Stock saw a price change of -1.89% in past 5 days and over the past one month there was a price change of 4.79%. Year-to-date (YTD), OB shares are showing a performance of 14.92% which decreased to -70.72% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.33 but also hit the highest price of $15.70 during that period. The average intraday trading volume for Outbrain Inc. shares is 230.90K. The stock is currently trading 6.86% above its 20-day simple moving average (SMA20), while that difference is up 7.25% for SMA50 and it goes to -22.22% lower than SMA200.
BlackRock Fund Advisors acquired 2.08 million shares of Outbrain Inc. having value of about $7.54 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.22 million shares in the company valued at close to $919264.32, or have control over 11.86% stake in the company. Outbrain Inc. (NASDAQ: OB) currently have 55.23M outstanding shares and institutions hold larger chunk of about 64.10% of that. Holding of mutual funds in the company is about 24.05% while other institutional holders and individual stake holders have control over 9.87% and 16.60% of the stake respectively.
The stock has a current market capitalization of $212.53M. PE ratio of stock for trailing 12 months is 11.89, while it has posted earnings per share of $0.35 in the same period. It has Quick Ratio of 1.80 while making debt-to-equity ratio of 1.06. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for OB, volatility over the week remained 5.01% while standing at 5.68% over the month.
Analysts are in expectations that Outbrain Inc. (OB) stock would likely to be making an EPS of -$0.15 in the current quarter, while forecast for next quarter EPS is -$0.09 and it is -$0.08 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.22 which is -$0.07 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.14 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 525.70% while it is estimated to increase by 43.80% in next year.
Analysts at 6 brokerage firms have issued recommendations for the Outbrain Inc. (OB)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.30. Out of those 6 Wall Street analysts, 1 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Needham on December 16, 2022 offering a Buy rating for the stock and assigned a target price range of between $7 and $4.50 to it. Coverage by Citigroup stated Outbrain Inc. (OB) stock as a Neutral in their note to investors on December 13, 2022, suggesting a price target of $4 for the stock. On November 11, 2022, Jefferies Downgrade their recommendations, while on May 13, 2022, Evercore ISI Downgrade their ratings for the stock with a price target of $9. Stock get a Buy rating from Jefferies on May 06, 2022.