Invenomic Capital Management LP Decreases Stock Position in Rover Group, Inc. (NASDAQ:ROVR)
Invenomic Capital Management LP cut its position in Rover Group, Inc. (NASDAQ:ROVR – Free Report) by 47.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,321,728 shares of the company’s stock after selling 1,177,464 shares during the quarter. Invenomic Capital Management LP owned 0.72% of Rover Group worth $6,490,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in ROVR. Tower Research Capital LLC TRC boosted its stake in shares of Rover Group by 75.7% in the second quarter. Tower Research Capital LLC TRC now owns 6,138 shares of the company’s stock valued at $30,000 after purchasing an additional 2,645 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Rover Group in the second quarter valued at $34,000. Neuberger Berman Group LLC acquired a new stake in Rover Group in the third quarter valued at $37,000. Verition Fund Management LLC acquired a new stake in Rover Group in the second quarter valued at $38,000. Finally, Victory Capital Management Inc. acquired a new stake in Rover Group in the fourth quarter valued at $38,000. 79.52% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently issued reports on ROVR shares. Morgan Stanley upped their price target on shares of Rover Group from $7.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, November 30th. The Goldman Sachs Group upped their price target on shares of Rover Group from $6.00 to $6.75 and gave the company a “neutral” rating in a report on Tuesday, November 7th. JMP Securities reaffirmed a “market perform” rating on shares of Rover Group in a report on Wednesday, November 29th. William Blair cut shares of Rover Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Rover Group from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Tuesday, November 7th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.38.
Read Our Latest Analysis on ROVR
Rover Group Price Performance
Shares of ROVR stock traded down $0.01 during trading hours on Friday, reaching $10.86. The stock had a trading volume of 2,891,900 shares, compared to its average volume of 4,493,015. The firm has a market capitalization of $1.95 billion, a PE ratio of 217.20 and a beta of 1.99. The firm has a 50-day simple moving average of $7.78 and a 200-day simple moving average of $6.35. Rover Group, Inc. has a twelve month low of $3.38 and a twelve month high of $11.10.
Rover Group (NASDAQ:ROVR – Get Free Report) last announced its quarterly earnings results on Monday, November 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. Rover Group had a return on equity of 5.44% and a net margin of 4.99%. The company had revenue of $66.20 million for the quarter, compared to the consensus estimate of $62.23 million. During the same quarter last year, the company posted ($0.08) earnings per share. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. On average, equities analysts anticipate that Rover Group, Inc. will post 0.11 earnings per share for the current year.
Insider Buying and Selling at Rover Group
In other Rover Group news, CFO Charles Wickers sold 6,668 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $6.51, for a total transaction of $43,408.68. Following the transaction, the chief financial officer now owns 114,589 shares in the company, valued at $745,974.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder Group Next L.P. Foundry sold 170,135 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $6.45, for a total value of $1,097,370.75. Following the sale, the insider now owns 12,780,175 shares in the company, valued at $82,432,128.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Charles Wickers sold 6,668 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $6.51, for a total transaction of $43,408.68. Following the completion of the sale, the chief financial officer now owns 114,589 shares in the company, valued at approximately $745,974.39. The disclosure for this sale can be found here. Insiders have sold a total of 857,938 shares of company stock worth $7,439,912 over the last 90 days. Insiders own 36.40% of the company’s stock.
Rover Group Profile (Free Report)
Rover Group, Inc operates an online marketplace for pet care worldwide. It connects pet parents with pet providers who offer overnight services, including boarding and in-home pet sitting, as well as daytime services, such as doggy daycare, dog walking, drop-in visits, grooming, and training. The company was founded in 2011 and is headquartered in Seattle, Washington.
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