Ritholtz Wealth Management Makes New Investment in WM Technology, Inc. (NASDAQ:MAPS)

Ritholtz Wealth Management purchased a new position in shares of WM Technology, Inc. (NASDAQ:MAPSFree Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 254,360 shares of the company’s stock, valued at approximately $287,000.

A number of other hedge funds have also recently made changes to their positions in MAPS. Bank of New York Mellon Corp grew its holdings in shares of WM Technology by 50.2% during the 4th quarter. Bank of New York Mellon Corp now owns 198,655 shares of the company’s stock valued at $274,000 after purchasing an additional 66,426 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of WM Technology during the fourth quarter valued at about $438,000. Raymond James Financial Inc. purchased a new position in shares of WM Technology in the fourth quarter worth about $52,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of WM Technology by 53.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 657,768 shares of the company’s stock worth $908,000 after buying an additional 229,949 shares during the period. Finally, Globeflex Capital L P bought a new stake in shares of WM Technology in the 4th quarter valued at about $183,000. 22.02% of the stock is currently owned by institutional investors.

WM Technology Stock Down 4.7%

Shares of WM Technology stock opened at $1.02 on Friday. The company’s fifty day simple moving average is $1.09 and its two-hundred day simple moving average is $1.24. The firm has a market cap of $157.44 million, a PE ratio of 12.75 and a beta of 1.06. WM Technology, Inc. has a 12-month low of $0.70 and a 12-month high of $1.65.

WM Technology (NASDAQ:MAPSGet Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. WM Technology had a return on equity of 6.88% and a net margin of 4.36%. The company had revenue of $44.61 million for the quarter, compared to the consensus estimate of $43.00 million.

Analyst Ratings Changes

MAPS has been the topic of several recent research reports. Wall Street Zen upgraded WM Technology from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. Westpark Capital reissued a “buy” rating and set a $2.61 price objective on shares of WM Technology in a research note on Friday, May 9th.

View Our Latest Analysis on WM Technology

Insider Activity

In other news, General Counsel Brian Camire sold 373,523 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $1.09, for a total value of $407,140.07. Following the completion of the sale, the general counsel now directly owns 2,024,323 shares of the company’s stock, valued at approximately $2,206,512.07. This trade represents a 15.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Douglas Francis sold 155,897 shares of WM Technology stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $1.11, for a total transaction of $173,045.67. Following the sale, the chief executive officer now directly owns 8,886,513 shares in the company, valued at $9,864,029.43. The trade was a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders own 23.64% of the company’s stock.

WM Technology Profile

(Free Report)

WM Technology, Inc provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States and internationally. The company offers Weedmaps marketplace that allows cannabis users to search for and browse cannabis products from retailers and brands, and reserve products from local retailers; and education and learning information to help newer consumers learn about the types of products to purchase.

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Institutional Ownership by Quarter for WM Technology (NASDAQ:MAPS)

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