Wescott Financial Advisory Group LLC acquired a new position in shares of Metromile, Inc. (NASDAQ:MILE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 39,999 shares of the company’s stock, valued at approximately $301,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in Metromile during the 2nd quarter worth $26,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Metromile during the 2nd quarter worth $36,000. Quantbot Technologies LP purchased a new position in Metromile during the 1st quarter worth $38,000. Cypress Capital Management LLC WY purchased a new position in Metromile during the 1st quarter worth $50,000. Finally, IFP Advisors Inc purchased a new position in Metromile during the 1st quarter worth $65,000. Institutional investors own 43.19% of the company’s stock.
MILE has been the topic of several research reports. Piper Sandler downgraded Metromile from an “overweight” rating to a “neutral” rating and set a $6.00 price objective on the stock. in a report on Tuesday, August 10th. Cantor Fitzgerald downgraded Metromile from an “overweight” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a report on Tuesday, August 10th.
Metromile (NASDAQ:MILE) last announced its quarterly earnings results on Monday, August 9th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.75) by ($0.25). The firm had revenue of $7.72 million during the quarter, compared to analyst estimates of $11.60 million. Research analysts predict that Metromile, Inc. will post -1.54 EPS for the current year.
Metromile Company Profile
Metromile, Inc provides pay-per-mile car insurance services in the United States and internationally. The company also licenses artificial intelligence claims platform to automate claims, reduce losses associated with fraud, and unlock the productivity of insurance carriers' employees. In addition, it offers The Pulse, a device that plugs into the diagnostic port of its customer's car and transmits data over wireless cellular networks.
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