Halter Ferguson Financial Inc. Makes New Investment in ODDITY Tech Ltd. $ODD

Halter Ferguson Financial Inc. purchased a new stake in shares of ODDITY Tech Ltd. (NASDAQ:ODD) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 208,439 shares of the company’s stock, valued at approximately $2,789,000. ODDITY Tech comprises about 0.6% of Halter Ferguson Financial Inc.’s portfolio, making the stock its 16th largest position.

A number of other hedge funds also recently modified their holdings of the business. Wexford Capital LP acquired a new stake in ODDITY Tech in the third quarter valued at $40,000. Legal & General Group Plc acquired a new position in ODDITY Tech during the 2nd quarter worth about $71,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in ODDITY Tech by 134.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock worth $69,000 after buying an additional 651 shares during the period. Headlands Technologies LLC bought a new stake in shares of ODDITY Tech in the 2nd quarter valued at about $108,000. Finally, Wolff Wiese Magana LLC grew its position in shares of ODDITY Tech by 2,435.3% in the 4th quarter. Wolff Wiese Magana LLC now owns 2,941 shares of the company’s stock valued at $118,000 after buying an additional 2,825 shares during the last quarter. Institutional investors and hedge funds own 35.88% of the company’s stock.

Wall Street Analysts Forecast Growth

ODD has been the subject of several recent research reports. Zacks Research cut ODDITY Tech from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Morgan Stanley reduced their target price on ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 3rd. Truist Financial decreased their target price on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, June 3rd. Barclays decreased their target price on shares of ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, June 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a report on Tuesday, June 2nd. Eight research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $25.39.

Insider Activity at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 109,602 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total transaction of $1,653,894.18. Following the completion of the sale, the chief financial officer owned 77,709 shares of the company’s stock, valued at $1,172,628.81. This trade represents a 58.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 128,805 shares of company stock worth $1,932,910.

ODDITY Tech Stock Performance

Shares of ODD opened at $17.35 on Tuesday. The company has a current ratio of 4.06, a quick ratio of 2.86 and a debt-to-equity ratio of 1.96. The firm’s fifty day simple moving average is $13.20 and its two-hundred day simple moving average is $21.13. ODDITY Tech Ltd. has a 12 month low of $9.25 and a 12 month high of $77.83. The stock has a market capitalization of $999.01 million, a P/E ratio of 21.96 and a beta of 2.37.

ODDITY Tech (NASDAQ:ODD) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The business had revenue of $197.94 million during the quarter, compared to the consensus estimate of $187.87 million. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The business’s revenue was down 26.2% on a year-over-year basis. During the same period last year, the business posted $0.69 earnings per share. As a group, analysts predict that ODDITY Tech Ltd. will post -0.46 EPS for the current year.

ODDITY Tech Company Profile

Oddity Tech Ltd. operates as a consumer tech company that builds digital-first brands for the beauty and wellness industries in the United States and internationally. It serves consumers worldwide through its AI-driven online platform, which uses data science, machine learning, and computer vision capabilities to identify consumer needs, and develop solutions in the form of beauty and wellness products. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.