Short Interest in Criteo SA (NASDAQ:CRTO) Expands By 21.0%

Criteo SA (NASDAQ:CRTO) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 1,440,000 shares, an increase of 21.0% from the September 30th total of 1,190,000 shares. Approximately 2.3% of the company’s shares are short sold. Based on an average trading volume of 386,900 shares, the days-to-cover ratio is currently 3.7 days.

Hedge funds have recently bought and sold shares of the stock. TD Asset Management Inc. increased its stake in Criteo by 21.9% in the 2nd quarter. TD Asset Management Inc. now owns 12,404 shares of the information services provider’s stock worth $279,000 after buying an additional 2,232 shares during the period. First Mercantile Trust Co. increased its stake in Criteo by 23.7% in the 2nd quarter. First Mercantile Trust Co. now owns 7,295 shares of the information services provider’s stock worth $126,000 after buying an additional 1,400 shares during the period. Acadian Asset Management LLC increased its stake in Criteo by 13.7% in the 2nd quarter. Acadian Asset Management LLC now owns 2,192,422 shares of the information services provider’s stock worth $37,729,000 after buying an additional 264,113 shares during the period. Atria Investments LLC purchased a new position in Criteo in the 2nd quarter worth about $2,645,000. Finally, DNB Asset Management AS increased its stake in Criteo by 40.2% in the 3rd quarter. DNB Asset Management AS now owns 2,863,379 shares of the information services provider’s stock worth $53,517,000 after buying an additional 820,400 shares during the period. 82.33% of the stock is currently owned by institutional investors.

CRTO has been the topic of several recent analyst reports. Deutsche Bank reduced their target price on shares of Criteo from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. ValuEngine downgraded shares of Criteo from a “sell” rating to a “strong sell” rating in a research note on Friday, November 8th. Zacks Investment Research raised shares of Criteo from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. downgraded shares of Criteo from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $24.00 to $16.00 in a research note on Thursday, October 31st. Finally, BidaskClub raised shares of Criteo from a “hold” rating to a “buy” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $22.62.

CRTO stock traded down $0.28 during trading on Thursday, hitting $16.93. The company had a trading volume of 529,300 shares, compared to its average volume of 501,414. The firm has a market capitalization of $1.13 billion, a P/E ratio of 10.32 and a beta of 0.74. Criteo has a 52-week low of $15.90 and a 52-week high of $30.85. The company has a 50 day simple moving average of $18.44 and a 200-day simple moving average of $18.84.

Criteo (NASDAQ:CRTO) last posted its quarterly earnings results on Wednesday, October 30th. The information services provider reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.26. The company had revenue of $221.00 million for the quarter, compared to the consensus estimate of $221.76 million. Criteo had a net margin of 3.80% and a return on equity of 11.08%. The firm’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 EPS. As a group, analysts anticipate that Criteo will post 1.94 earnings per share for the current year.

Criteo Company Profile

Criteo SA, a technology company, provides an advertising platform for the open Internet in France and internationally. The company's Criteo Shopper Graph, which collects clients' proprietary commerce data, such as transaction activity on their digital properties. Its Criteo AI Engine solutions include Lookalike finder algorithms; recommendation algorithms; predictive bidding algorithms; bidding engine that executes campaigns based on certain objectives set by its clients; dynamic creative optimization+, which assembles customized creative advertising content by optimizing each individual creative component in the advertisement; software systems and processes, which enable data synchronization, storage, and analysis of distributed computing infrastructure in various geographies; and experimentation platform, an offline/online platform to enhance the capabilities and effectiveness of prediction models.

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