Parsifal Capital Management LP recently announced the acquisition of new stake in Rover Group Inc (NASDAQ:ROVR). The institutional investor has increased its shareholding in the Communication Services company by 0.24% to 8.21 million shares with purchase of 19590.0 shares. This fresh investment now brings its stake to 4.55% valued currently at $89.32 million. In addition, BlackRock Fund Advisors raised its holdings by 0.49 million to 6.48 million shares. And The Vanguard Group, Inc. has lifted its position by 5.72% or 0.33 million shares – to 6.12 million shares.
With over 0.47 million Rover Group Inc (ROVR) shares trading Friday and a closing price of $10.92 on the day, the dollar volume was approximately $5.18 million. The shares have shown a positive half year performance of 119.72% and its price on 01/12/24 gained nearly 0.09%. Currently, there are 184.53M common shares owned by the public and among those 107.88M shares have been available to trade.
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Insiders at the company have transacted a total of 86 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 40 of these insider trades were purchases, accounting for 1,961,105 shares. Insider sales of the common stock occurred on 46 occasions, with total insider shares sold totaling 3,733,475 shares.
The top 3 mutual fund holders in Rover Group Inc are Fidelity Small Cap Growth Fund, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. Fidelity Small Cap Growth Fund owns 3.84 million shares of the company’s stock, all valued at over $41.78 million. The company sold 4662.0 shares recently to bring their total holdings to about 2.13% of the shares outstanding. iShares Russell 2000 ETF sold 6480.0 shares to bring its total holdings to over 2.45 million shares at a value of $26.64 million. iShares Russell 2000 ETF now owns shares totaling to 1.36% of the shares outstanding.
Shares of Rover Group Inc (NASDAQ: ROVR) opened at $10.92, up $0.01 from a prior closing price of $10.91. However, the script later moved the day high at 10.92, up 0.09%. The company’s stock has a 5-day price change of 0.28% and 62.74% over the past three months. ROVR shares are trading 0.37% year to date (YTD), with the 12-month market performance up to 180.00% higher. It has a 12-month low price of $3.39 and touched a high of $11.10 over the same period. ROVR has an average intraday trading volume of 2.94 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 0.22%, 13.22%, and 68.34% respectively.
Institutional ownership of Rover Group Inc (NASDAQ: ROVR) shares accounts for 42.35% of the company’s 184.53M shares outstanding. Mutual fund holders own 25.22%, while other institutional holders and individual stakeholders account for 37.05% and 17.15% respectively.
It has a market capitalization of $1.97B and a beta (3y monthly) value of 1.94. The stock’s trailing 12-month PE ratio is 204.49, while the earnings-per-share (ttm) stands at $0.05. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.23% over the week and 0.33% over the month.
Analysts forecast that Rover Group Inc (ROVR) will achieve an EPS of $0.06 for the current quarter, -$0.02 for the next quarter and $0.16 for 2024. The lowest estimate earnings-per-share for the quarter is $0.04 while analysts give the company a high EPS estimate of $0.07. Comparatively, EPS for the current quarter was $0.03 a year ago. Earnings per share for the fiscal year are expected to increase by 180.45%, and 66.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Rover Group Inc (ROVR) as a “Moderate Buy” at a consensus score of 2.71. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 6 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ROVR, a number of firms have released research notes about the stock. Gordon Haskett stated their Hold rating for the stock in a research note on August 09, 2022, with the firm’s price target at $5.50-$3.50.
