The Vanguard Group, Inc. recently announced the acquisition of new stake in System1 Inc. (NYSE:SST). The institutional investor has increased its shareholding in the Industrials company by 323.90% to 1.01 million shares with purchase of 0.77 million shares. This fresh investment now brings its stake to 1.10% valued currently at $4.72 million. In addition, CaaS Capital Management LP raised its holdings by 0.42 million to 0.42 million shares. And Jane Street Capital LLC has lifted its position by 571.81% or 0.29 million shares – to 0.34 million shares.
With over 0.1 million System1 Inc. (SST) shares trading Monday and a closing price of $5.43 on the day, the dollar volume was approximately $0.56 million. The shares have shown a negative half year performance of -30.03% and its price on 01/23/23 gained nearly 12.42%. Currently, there are 91.00M common shares owned by the public and among those 47.68M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for SST have a consensus price objective of $7.25. The analysts have set the share’s price value over the next 12 months at a high of $10.00 and a low of $4.00. The average price target is 25.1% above its recent price level and a downside to the estimated low will see the stock lose -35.75% over that period. But an upside of 45.7% will see the stock hit the forecast high price target while median target price for the stock is $7.50.
Insiders at the company have transacted a total of 98 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 55 of these insider trades were purchases, accounting for 63,995,206 shares. Insider sales of the common stock occurred on 43 occasions, with total insider shares sold totaling 49,895,309 shares.
The top 3 mutual fund holders in System1 Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Lyxor Newcits IRL Plc – Tiedemann. Vanguard Total Stock Market Index owns 0.73 million shares of the company’s stock, all valued at over $3.41 million. Vanguard Extended Market Index Fu bought 426.0 shares to see its total holdings expand to 0.24 million shares valued at over $1.13 million and representing 0.26% of the shares outstanding. Lyxor Newcits IRL Plc – Tiedemann sold 2138.0 shares to bring its total holdings to over 0.13 million shares at a value of $0.61 million. Lyxor Newcits IRL Plc – Tiedemann now owns shares totaling to 0.14% of the shares outstanding.
Shares of System1 Inc. (NYSE: SST) opened at $4.90, up $0.07 from a prior closing price of $4.83. However, the script later moved the day high at 5.58, up 12.42%. The company’s stock has a 5-day price change of 10.37% and -3.72% over the past three months. SST shares are trading 15.78% year to date (YTD), with the 12-month market performance down to -32.88% lower. It has a 12-month low price of $3.45 and touched a high of $37.10 over the same period. SST has an average intraday trading volume of 85.07K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 16.82%, 14.18%, and -35.86% respectively.
Institutional ownership of System1 Inc. (NYSE: SST) shares accounts for 32.70% of the company’s 91.00M shares outstanding. Mutual fund holders own 1.88%, while other institutional holders and individual stakeholders account for 71.37% and 1.80% respectively.
It has a market capitalization of $487.34M. The earnings-per-share (ttm) stands at -$1.42. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.80% over the week and 7.97% over the month.
Analysts forecast that System1 Inc. (SST) will achieve an EPS of -$0.21 for the current quarter, -$0.17 for the next quarter and -$0.68 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.21 while analysts give the company a high EPS estimate of -$0.21. Earnings per share for the fiscal year are expected to increase by 93.50%, and 8.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate System1 Inc. (SST) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 1 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SST, a number of firms have released research notes about the stock. BofA Securities stated their Underperform rating for the stock in a research note on November 08, 2022, with the firm’s price target at $12-$4. BofA Securities coverage for the System1 Inc. (SST) stock in a research note released on July 11, 2022 offered a Buy rating with a price target of $12.