Zacks Investment Research upgraded shares of Gaia (NASDAQ:GAIA) from a hold rating to a buy rating in a report published on Friday, Zacks.com reports. Zacks Investment Research currently has $8.50 price target on the stock.
According to Zacks, “Gaia, Inc. provides digital video subscription service. Its video content is available through online digital streaming on virtually any Internet-connected device on a commercial-free basis. The Company’s subscribers access to a library of films, personal growth-related content, documentaries, interviews, yoga classes and fitness. It created a fitness and yoga-focused version of its video service. Gaia, Inc., formerly known as Gaiam Inc., is based in Louisville, United States. “
Other equities research analysts have also issued research reports about the stock. Lake Street Capital dropped their price target on shares of Gaia from $20.00 to $15.00 and set a buy rating on the stock in a research note on Tuesday, August 6th. ValuEngine lowered shares of Gaia from a buy rating to a hold rating in a research note on Friday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $15.83.
Gaia (NASDAQ:GAIA) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.06. Gaia had a negative net margin of 66.00% and a negative return on equity of 39.97%. The company had revenue of $13.16 million for the quarter, compared to analyst estimates of $13.09 million. Analysts predict that Gaia will post -1.1 EPS for the current year.
In related news, Director Paul Howard Sutherland acquired 15,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $6.28 per share, for a total transaction of $94,200.00. Following the completion of the purchase, the director now directly owns 89,057 shares of the company’s stock, valued at $559,277.96. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Corina S. Granado acquired 100,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were bought at an average price of $12.00 per share, for a total transaction of $1,200,000.00. Insiders acquired 278,379 shares of company stock worth $2,369,126 in the last 90 days. 34.83% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC increased its stake in shares of Gaia by 24.4% during the second quarter. Parametric Portfolio Associates LLC now owns 14,812 shares of the company’s stock valued at $112,000 after acquiring an additional 2,901 shares during the period. Marshall Wace North America L.P. increased its stake in shares of Gaia by 76.1% during the first quarter. Marshall Wace North America L.P. now owns 7,498 shares of the company’s stock valued at $69,000 after acquiring an additional 3,240 shares during the period. Northern Trust Corp increased its stake in shares of Gaia by 2.7% during the second quarter. Northern Trust Corp now owns 128,042 shares of the company’s stock valued at $971,000 after acquiring an additional 3,335 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Gaia by 12.1% during the second quarter. Bank of New York Mellon Corp now owns 41,972 shares of the company’s stock valued at $317,000 after acquiring an additional 4,524 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Gaia by 146.0% during the fourth quarter. Bank of America Corp DE now owns 9,896 shares of the company’s stock valued at $102,000 after acquiring an additional 5,873 shares during the period. Institutional investors and hedge funds own 47.81% of the company’s stock.
Gaia Company Profile
Gaia, Inc operates a digital video subscription service and online community that caters underserved subscriber base worldwide. The company has a digital content library of approximately 8,000 titles available to its subscribers on Internet-connected devices. Its subscribers have access to a library of films, documentaries, interviews, yoga classes, transformation related content, and others for digital streaming.
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