The Vanguard Group, Inc. recently announced the acquisition of new stake in Momentive Global Inc. (NASDAQ:MNTV). The institutional investor has increased its shareholding in the Technology company by 6.90% to 13.18 million shares with purchase of 0.85 million shares. This fresh investment now brings its stake to 8.75% valued currently at $123.77 million. In addition, Magnetar Financial LLC raised its holdings by 7.71 million to 7.71 million shares. And Morgan Stanley & Co. LLC has lifted its position by 834.57% or 5.58 million shares – to 6.25 million shares.
With over 2.68 million Momentive Global Inc. (MNTV) shares trading Tuesday and a closing price of $9.41 on the day, the dollar volume was approximately $25.23 million. The shares have shown a positive half year performance of 21.58% and its price on 05/23/23 gained nearly 0.21%. Currently, there are 149.34M common shares owned by the public and among those 128.25M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for MNTV have a consensus price objective of $9.47. The analysts have set the share’s price value over the next 12 months at a high of $9.50 and a low of $9.46. The average price target is 0.63% above its recent price level and an upside to the estimated low will see the stock gain 0.53% over that period. But an upside of 0.95% will see the stock hit the forecast high price target while median target price for the stock is $9.46.
Insiders at the company have transacted a total of 51 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 2,421,324 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 201,304 shares.
The top 3 mutual fund holders in Momentive Global Inc. are Vanguard Explorer Fund, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. Vanguard Explorer Fund owns 7.09 million shares of the company’s stock, all valued at over $66.56 million. The company bought an additional 2.09 million shares recently to bring their total holdings to about 4.70% of the shares outstanding. Vanguard Total Stock Market ETF bought 93307.0 shares to see its total holdings expand to 3.92 million shares valued at over $36.77 million and representing 2.60% of the shares outstanding. Vanguard Small Cap Index Fund bought 39572.0 shares to bring its total holdings to over 3.34 million shares at a value of $31.33 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.21% of the shares outstanding.
However, the script later moved the day high at 9.41, up 0.21%. The company’s stock has a 5-day price change of 0.32% and 29.44% over the past three months. MNTV shares are trading 34.43% year to date (YTD), with the 12-month market performance down to -21.26% lower. It has a 12-month low price of $5.14 and touched a high of $13.48 over the same period. MNTV has an average intraday trading volume of 3.74 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.35%, 1.10%, and 21.52% respectively.
Institutional ownership of Momentive Global Inc. (NASDAQ: MNTV) shares accounts for 78.90% of the company’s 149.34M shares outstanding. Mutual fund holders own 49.88%, while other institutional holders and individual stakeholders account for 9.82% and 37.93% respectively.
It has a market capitalization of $1.42B and a beta (3y monthly) value of 1.56. The earnings-per-share (ttm) stands at -$0.51. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.21% over the week and 0.25% over the month.
Analysts forecast that Momentive Global Inc. (MNTV) will achieve an EPS of $0.08 for the current quarter, $0.11 for the next quarter and $0.48 for 2024. The lowest estimate earnings-per-share for the quarter is $0.06 while analysts give the company a high EPS estimate of $0.09. Comparatively, EPS for the current quarter was $0 a year ago. Earnings per share for the fiscal year are expected to increase by 27.80%, and 29.46% over the next financial year. EPS should grow at an annualized rate of 40.49% over the next five years, compared to -25.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Momentive Global Inc. (MNTV) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 6 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
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