Gaia (NASDAQ:GAIA) Cut to Hold at Zacks Investment Research

Gaia (NASDAQ:GAIA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Gaia, Inc. provides digital video subscription service. Its video content is available through online digital streaming on virtually any Internet-connected device on a commercial-free basis. The Company’s subscribers access to a library of films, personal growth-related content, documentaries, interviews, yoga classes and fitness. It created a fitness and yoga-focused version of its video service. Gaia, Inc., formerly known as Gaiam Inc., is based in Louisville, United States. “

GAIA has been the topic of a number of other research reports. ValuEngine raised Gaia from a “hold” rating to a “buy” rating in a research report on Wednesday. Lake Street Capital cut their target price on Gaia from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $15.50.

Gaia stock traded up $0.52 during mid-day trading on Wednesday, reaching $8.21. 131,777 shares of the company were exchanged, compared to its average volume of 106,664. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market cap of $128.50 million, a P/E ratio of -4.19 and a beta of 1.10. The business has a fifty day moving average of $6.80 and a 200 day moving average of $8.11. Gaia has a 12-month low of $5.68 and a 12-month high of $17.20.

Gaia (NASDAQ:GAIA) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.06. The business had revenue of $13.16 million for the quarter, compared to the consensus estimate of $13.09 million. Gaia had a negative return on equity of 39.97% and a negative net margin of 66.00%. Sell-side analysts predict that Gaia will post -1.1 EPS for the current year.

In other Gaia news, Director Paul Howard Sutherland acquired 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $6.28 per share, for a total transaction of $94,200.00. Following the acquisition, the director now owns 89,057 shares in the company, valued at approximately $559,277.96. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Jirka Rysavy acquired 105,879 shares of the stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $7.14 per share, with a total value of $755,976.06. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 278,379 shares of company stock worth $2,369,126. Insiders own 34.83% of the company’s stock.

A number of hedge funds have recently made changes to their positions in GAIA. Parametric Portfolio Associates LLC increased its position in Gaia by 24.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 14,812 shares of the company’s stock valued at $112,000 after buying an additional 2,901 shares in the last quarter. Marshall Wace North America L.P. boosted its holdings in Gaia by 76.1% in the first quarter. Marshall Wace North America L.P. now owns 7,498 shares of the company’s stock worth $69,000 after acquiring an additional 3,240 shares in the last quarter. Northern Trust Corp boosted its holdings in Gaia by 2.7% in the second quarter. Northern Trust Corp now owns 128,042 shares of the company’s stock worth $971,000 after acquiring an additional 3,335 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Gaia by 12.1% in the second quarter. Bank of New York Mellon Corp now owns 41,972 shares of the company’s stock worth $317,000 after acquiring an additional 4,524 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Gaia by 146.0% during the fourth quarter. Bank of America Corp DE now owns 9,896 shares of the company’s stock worth $102,000 after acquiring an additional 5,873 shares during the last quarter. Hedge funds and other institutional investors own 47.81% of the company’s stock.

About Gaia

Gaia, Inc operates a digital video subscription service and online community that caters underserved subscriber base worldwide. The company has a digital content library of approximately 8,000 titles available to its subscribers on Internet-connected devices. Its subscribers have access to a library of films, documentaries, interviews, yoga classes, transformation related content, and others for digital streaming.

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