Short Interest in DoubleVerify Holdings, Inc. (NYSE:DV) Grows By 258.2%

DoubleVerify Holdings, Inc. (NYSE:DV) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,570,000 shares, a growth of 258.2% from the September 15th total of 438,300 shares. Based on an average trading volume of 305,900 shares, the days-to-cover ratio is presently 5.1 days. Approximately 3.7% of the company’s shares are sold short.

A number of hedge funds have recently bought and sold shares of DV. Royal Bank of Canada purchased a new position in DoubleVerify during the 2nd quarter valued at about $28,000. Citigroup Inc. bought a new stake in DoubleVerify in the 2nd quarter worth approximately $41,000. Metropolitan Life Insurance Co NY purchased a new position in DoubleVerify in the 2nd quarter worth approximately $45,000. Legal & General Group Plc purchased a new position in DoubleVerify in the 2nd quarter worth approximately $93,000. Finally, CNH Partners LLC purchased a new position in shares of DoubleVerify during the second quarter valued at approximately $203,000. 80.99% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on DV. Zacks Investment Research downgraded shares of DoubleVerify from a “hold” rating to a “sell” rating in a report on Tuesday, September 28th. William Blair reissued a “buy” rating on shares of DoubleVerify in a report on Friday, July 30th. Needham & Company LLC initiated coverage on shares of DoubleVerify in a report on Thursday, September 16th. They issued a “buy” rating and a $41.00 target price for the company. Finally, JMP Securities reaffirmed a “buy” rating and issued a $41.00 price objective on shares of DoubleVerify in a research note on Tuesday, August 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, DoubleVerify presently has an average rating of “Buy” and an average price target of $38.64.

Shares of DV traded up $0.17 during trading hours on Thursday, reaching $31.48. The stock had a trading volume of 629 shares, compared to its average volume of 398,092. The company has a quick ratio of 11.91, a current ratio of 11.91 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average is $34.14. DoubleVerify has a 12 month low of $27.16 and a 12 month high of $48.42.

DoubleVerify (NYSE:DV) last announced its earnings results on Thursday, July 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.09). The firm had revenue of $76.52 million during the quarter, compared to analysts’ expectations of $73.20 million. On average, analysts expect that DoubleVerify will post 0.26 EPS for the current year.

About DoubleVerify

DoubleVerify Holdings, Inc offers a software platform for digital media measurement, data, and analytics. The company offers DV Authentic Ad, a metric of digital media quality that evaluates the existence of fraud, brand safety, viewability, and geography for each digital ad; DV Authentic Attention solution that provides exposure and engagement predictive analytics to drive campaign performance; and Custom Contextual solution, which allows advertisers to match their ads to relevant content to maximize user engagement and drive campaign performance.

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