Zacks Investment Research Upgrades Actua Corporation (ACTA) to Hold
Actua Corporation (NASDAQ:ACTA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Actua Corporation is a multi-vertical cloud company. The Company brings the power of the cloud to vertical markets and processes, including insurance, public sector communications and compliance. It operates in two business segments: the core reporting segment and the venture reporting segment. The Company’s core reporting segment includes those companies in which its management provides strategic direction and management assistance. Its venture reporting segment includes companies to which it generally devote less capital than it does to its core companies and, therefore, in which it holds relatively smaller ownership stakes than it does in the core companies. Actua Corporation, formerly known as ICG Group Inc Common Stock, is based in Radnor, Pennsylvania. “
Several other equities research analysts also recently issued reports on the stock. ValuEngine downgraded shares of Actua Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, September 13th. BidaskClub upgraded shares of Actua Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Finally, Barrington Research downgraded shares of Actua Corporation from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $17.00.
Shares of Actua Corporation (NASDAQ ACTA) traded up 0.97% during mid-day trading on Tuesday, hitting $15.65. The company’s stock had a trading volume of 347,150 shares. Actua Corporation has a 1-year low of $11.20 and a 1-year high of $15.75. The company has a 50-day moving average price of $13.37 and a 200-day moving average price of $13.73. The stock has a market cap of $484.56 million, a PE ratio of 6.60 and a beta of 1.63.
Actua Corporation (NASDAQ:ACTA) last posted its quarterly earnings data on Wednesday, August 9th. The software maker reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.01. Actua Corporation had a net margin of 67.78% and a negative return on equity of 5.42%. The company had revenue of $31.19 million during the quarter, compared to the consensus estimate of $31.57 million. During the same period in the prior year, the business posted ($0.35) EPS. The company’s quarterly revenue was up 16.1% on a year-over-year basis. Analysts predict that Actua Corporation will post ($0.12) EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Actua Corporation during the first quarter worth approximately $112,000. Trexquant Investment LP acquired a new stake in Actua Corporation during the second quarter worth approximately $149,000. Tudor Investment Corp ET AL acquired a new stake in Actua Corporation during the second quarter worth approximately $162,000. Bank of America Corp DE lifted its position in Actua Corporation by 14.2% during the first quarter. Bank of America Corp DE now owns 11,671 shares of the software maker’s stock worth $164,000 after acquiring an additional 1,455 shares during the last quarter. Finally, Numeric Investors LLC acquired a new stake in Actua Corporation during the second quarter worth approximately $191,000. Hedge funds and other institutional investors own 73.12% of the company’s stock.
About Actua Corporation
Actua Corporation, formerly ICG Group, Inc, is a multi-vertical cloud technology company. The Company operates through two segments, which include the vertical cloud segment and the vertical cloud (venture) segment. The Company’s vertical cloud-based businesses include Bolt Solutions Inc (Bolt), Folio Dynamics Holdings Inc (FolioDynamix), GovDelivery Holdings, Inc (GovDelivery) and VelocityEHS Holdings, Inc (VelocityEHS), which operate in the commercial and personal property and casualty insurance, wealth management, government communications and environmental, health and safety (EH&S) markets, respectively.
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